U S Global Investors Inc. Sells 1,891 Shares of Danaos Co. (NYSE:DAC)

U S Global Investors Inc. decreased its position in shares of Danaos Co. (NYSE:DAC) by 55.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,525 shares of the shipping company’s stock after selling 1,891 shares during the period. U S Global Investors Inc.’s holdings in Danaos were worth $122,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its position in shares of Danaos by 2.9% in the third quarter. Janney Montgomery Scott LLC now owns 26,908 shares of the shipping company’s stock valued at $2,334,000 after acquiring an additional 766 shares in the last quarter. State Street Corp raised its stake in Danaos by 2.3% during the 3rd quarter. State Street Corp now owns 24,098 shares of the shipping company’s stock valued at $2,090,000 after purchasing an additional 547 shares during the period. DGS Capital Management LLC lifted its holdings in Danaos by 71.6% in the 4th quarter. DGS Capital Management LLC now owns 23,945 shares of the shipping company’s stock worth $1,917,000 after purchasing an additional 9,994 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Danaos in the 3rd quarter worth approximately $935,000. Finally, Redhawk Wealth Advisors Inc. boosted its stake in Danaos by 5.5% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,258 shares of the shipping company’s stock worth $741,000 after purchasing an additional 485 shares during the period. Institutional investors own 19.01% of the company’s stock.

Danaos Price Performance

NYSE:DAC opened at $79.54 on Friday. The business’s 50-day moving average is $80.15 and its 200 day moving average is $81.53. Danaos Co. has a 12 month low of $69.33 and a 12 month high of $98.25. The company has a market capitalization of $1.54 billion, a P/E ratio of 3.07 and a beta of 1.42. The company has a current ratio of 3.93, a quick ratio of 3.78 and a debt-to-equity ratio of 0.19.

Danaos (NYSE:DAC) last issued its quarterly earnings data on Monday, February 10th. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.52 by ($0.02). Danaos had a return on equity of 16.03% and a net margin of 49.81%. On average, equities research analysts forecast that Danaos Co. will post 29.21 earnings per share for the current fiscal year.

Danaos Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a $0.85 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.27%. Danaos’s payout ratio is currently 13.12%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DAC shares. StockNews.com cut shares of Danaos from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $105.00 price target on shares of Danaos in a report on Tuesday, February 11th.

Danaos Profile

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.