Campbell & CO Investment Adviser LLC Sells 11,247 Shares of Danaos Corporation $DAC

Campbell & CO Investment Adviser LLC decreased its stake in shares of Danaos Corporation (NYSE:DAC) by 79.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,857 shares of the shipping company’s stock after selling 11,247 shares during the quarter. Campbell & CO Investment Adviser LLC’s holdings in Danaos were worth $257,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in DAC. Morgan Dempsey Capital Management LLC increased its stake in Danaos by 41.7% during the second quarter. Morgan Dempsey Capital Management LLC now owns 4,564 shares of the shipping company’s stock valued at $394,000 after acquiring an additional 1,343 shares during the period. Aristides Capital LLC acquired a new stake in shares of Danaos during the 2nd quarter worth approximately $246,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Danaos during the second quarter valued at approximately $264,000. Bastion Asset Management Inc. raised its stake in shares of Danaos by 50.6% in the second quarter. Bastion Asset Management Inc. now owns 37,514 shares of the shipping company’s stock valued at $3,217,000 after purchasing an additional 12,606 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in shares of Danaos in the second quarter valued at $1,129,000. Institutional investors own 19.01% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b)” rating on shares of Danaos in a research note on Wednesday. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $105.00.

Danaos Stock Performance

Shares of NYSE:DAC opened at $100.76 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.62 and a quick ratio of 4.51. The business’s fifty day moving average price is $96.53 and its two-hundred day moving average price is $93.12. Danaos Corporation has a fifty-two week low of $65.40 and a fifty-two week high of $102.23. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 4.02 and a beta of 1.03.

Danaos (NYSE:DAC) last issued its earnings results on Monday, November 17th. The shipping company reported $6.75 EPS for the quarter, missing the consensus estimate of $7.17 by ($0.42). Danaos had a net margin of 45.16% and a return on equity of 13.49%. The firm had revenue of $260.73 million during the quarter, compared to analyst estimates of $257.63 million. During the same quarter in the prior year, the firm posted $6.50 EPS. As a group, analysts predict that Danaos Corporation will post 29.21 EPS for the current fiscal year.

Danaos Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Tuesday, December 2nd were given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.6%. This is a boost from Danaos’s previous quarterly dividend of $0.85. The ex-dividend date was Tuesday, December 2nd. Danaos’s dividend payout ratio (DPR) is presently 14.37%.

About Danaos

Danaos Corporation is a leading independent owner and manager of containerships, specializing in long-term charters of modern vessels to major liner companies worldwide. The company’s core services include vessel acquisition and sale, technical and crew management, and commercial chartering, all aimed at supporting global containerized trade. Danaos leverages its in-house expertise in operations, maintenance and regulatory compliance to ensure reliable and efficient fleet performance.

Founded in 1972 by Dr.