DGS Capital Management LLC Buys 4,084 Shares of Danaos Corporation $DAC

DGS Capital Management LLC raised its position in Danaos Corporation (NYSE:DAC) by 15.5% during the first quarter, Holdings Channel reports. The firm owned 30,394 shares of the shipping company’s stock after purchasing an additional 4,084 shares during the period. Danaos comprises 0.6% of DGS Capital Management LLC’s portfolio, making the stock its 26th largest holding. DGS Capital Management LLC’s holdings in Danaos were worth $3,424,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Ion Asset Management Ltd. boosted its position in Danaos by 15.5% during the second quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company’s stock valued at $56,428,000 after acquiring an additional 87,614 shares during the last quarter. ION Fund Management Ltd bought a new stake in shares of Danaos during the 4th quarter valued at about $39,538,000. Millennium Management LLC grew its stake in Danaos by 161.8% during the third quarter. Millennium Management LLC now owns 133,401 shares of the shipping company’s stock worth $11,981,000 after purchasing an additional 82,450 shares during the period. JPMorgan Chase & Co. grew its stake in Danaos by 13.8% during the fourth quarter. JPMorgan Chase & Co. now owns 111,750 shares of the shipping company’s stock worth $10,525,000 after purchasing an additional 13,571 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in Danaos by 58.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 106,089 shares of the shipping company’s stock worth $9,991,000 after purchasing an additional 38,958 shares in the last quarter. 19.01% of the stock is owned by institutional investors.

Danaos Price Performance

DAC stock opened at $123.39 on Monday. The stock has a market capitalization of $2.25 billion, a PE ratio of 4.35 and a beta of 0.89. The company’s 50-day moving average is $127.54 and its 200-day moving average is $113.97. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.66 and a quick ratio of 8.40. Danaos Corporation has a 1 year low of $83.56 and a 1 year high of $135.21.

Danaos (NYSE:DAC) last issued its earnings results on Monday, May 11th. The shipping company reported $6.72 EPS for the quarter, beating analysts’ consensus estimates of $5.86 by $0.86. Danaos had a return on equity of 13.18% and a net margin of 49.85%.The business had revenue of $253.70 million during the quarter, compared to analyst estimates of $242.20 million.

Danaos Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, May 26th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, May 26th. Danaos’s dividend payout ratio (DPR) is 12.70%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Weiss Ratings lowered Danaos from a “buy (b+)” rating to a “buy (b)” rating in a research note on Monday, June 29th. Freedom Capital upgraded shares of Danaos to a “hold” rating in a research note on Tuesday, March 10th. Finally, Fearnley Fonds upgraded shares of Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $105.00.

Danaos Company Profile

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.