Chesapeake Capital Corp IL Has $491,000 Holdings in Danaos Co. (NYSE:DAC)

Chesapeake Capital Corp IL lifted its holdings in shares of Danaos Co. (NYSE:DAC) by 27.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,712 shares of the shipping company’s stock after purchasing an additional 1,246 shares during the period. Chesapeake Capital Corp IL’s holdings in Danaos were worth $491,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of DAC. Acadian Asset Management LLC lifted its holdings in shares of Danaos by 33.5% during the second quarter. Acadian Asset Management LLC now owns 788,905 shares of the shipping company’s stock worth $72,823,000 after purchasing an additional 197,904 shares during the period. Gordian Capital Singapore Pte Ltd lifted its holdings in shares of Danaos by 17,600,000.0% during the second quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock worth $16,255,000 after purchasing an additional 176,000 shares during the period. Sei Investments Co. acquired a new position in shares of Danaos during the first quarter worth $1,484,000. TrueMark Investments LLC acquired a new position in shares of Danaos during the second quarter worth $1,734,000. Finally, Marshall Wace LLP acquired a new position in Danaos in the second quarter valued at $1,250,000. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Price Performance

DAC stock opened at $85.76 on Friday. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 2.97 and a beta of 1.47. The company has a quick ratio of 4.04, a current ratio of 3.93 and a debt-to-equity ratio of 0.19. Danaos Co. has a 12-month low of $66.45 and a 12-month high of $98.25. The company’s fifty day simple moving average is $83.16 and its 200 day simple moving average is $85.20.

Danaos (NYSE:DAC) last released its earnings results on Tuesday, November 12th. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.86 by ($0.36). Danaos had a net margin of 56.16% and a return on equity of 16.68%. The firm had revenue of $256.18 million during the quarter, compared to analyst estimates of $251.16 million. During the same quarter in the previous year, the firm earned $7.26 EPS. On average, analysts expect that Danaos Co. will post 27.56 earnings per share for the current year.

Danaos Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th will be paid a $0.85 dividend. This is an increase from Danaos’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Monday, November 25th. Danaos’s payout ratio is 11.07%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DAC. StockNews.com lowered shares of Danaos from a “buy” rating to a “hold” rating in a report on Tuesday, November 12th. Jefferies Financial Group restated a “buy” rating and issued a $105.00 target price on shares of Danaos in a report on Tuesday, November 12th.

About Danaos

Danaos Corporation, together with its subsidiaries, provides container and drybulk vessels services in Australia, Asia, and Europe. The company offers seaborne transportation services by operating vessels in the containership and drybulk sectors of the shipping industry. As of April 03, 2024, it had a fleet of 68 containerships aggregating 421,293 twenty-foot equivalent units in capacity.