Marnell Management LLC Acquires Shares of 7,119 Danaos Corporation $DAC

Marnell Management LLC acquired a new stake in Danaos Corporation (NYSE:DAC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,119 shares of the shipping company’s stock, valued at approximately $670,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aigen Investment Management LP grew its holdings in Danaos by 38.9% in the 4th quarter. Aigen Investment Management LP now owns 4,584 shares of the shipping company’s stock valued at $432,000 after buying an additional 1,283 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Danaos in the fourth quarter valued at approximately $43,000. Advisory Research Inc. boosted its stake in shares of Danaos by 2.4% in the fourth quarter. Advisory Research Inc. now owns 39,648 shares of the shipping company’s stock valued at $3,734,000 after buying an additional 921 shares during the period. Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Danaos in the fourth quarter valued at approximately $384,000. Finally, State Street Corp boosted its stake in shares of Danaos by 2.4% in the fourth quarter. State Street Corp now owns 15,761 shares of the shipping company’s stock valued at $1,484,000 after buying an additional 372 shares during the period. 19.01% of the stock is owned by institutional investors and hedge funds.

Danaos Trading Up 0.3%

Shares of DAC stock opened at $131.64 on Monday. The company has a current ratio of 8.66, a quick ratio of 8.40 and a debt-to-equity ratio of 0.26. The stock has a market cap of $2.40 billion, a P/E ratio of 4.64 and a beta of 0.91. The stock has a 50 day simple moving average of $124.90 and a 200 day simple moving average of $110.91. Danaos Corporation has a 1 year low of $83.56 and a 1 year high of $135.21.

Danaos (NYSE:DAC) last issued its quarterly earnings results on Monday, May 11th. The shipping company reported $6.72 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $242.20 million.

Danaos Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, May 26th were paid a dividend of $0.90 per share. The ex-dividend date was Tuesday, May 26th. This represents a $3.60 annualized dividend and a yield of 2.7%. Danaos’s dividend payout ratio is presently 12.70%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Fearnley Fonds upgraded Danaos from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, May 6th. Finally, Freedom Capital upgraded Danaos to a “hold” rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average 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.