Danaos Corporation $DAC Shares Acquired by Morgan Dempsey Capital Management LLC

Morgan Dempsey Capital Management LLC increased its stake in Danaos Corporation (NYSE:DAC) by 41.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,564 shares of the shipping company’s stock after acquiring an additional 1,343 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Danaos were worth $394,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Danaos by 7,700.0% in the first quarter. GAMMA Investing LLC now owns 390 shares of the shipping company’s stock worth $30,000 after acquiring an additional 385 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Danaos during the second quarter valued at approximately $222,000. Cubist Systematic Strategies LLC acquired a new position in Danaos during the first quarter valued at approximately $223,000. National Bank of Canada FI lifted its position in Danaos by 3.2% during the first quarter. National Bank of Canada FI now owns 3,914 shares of the shipping company’s stock valued at $305,000 after buying an additional 120 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Danaos during the first quarter valued at approximately $335,000. 19.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DAC shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $105.00 price target on shares of Danaos in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Danaos in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Danaos presently has an average rating of “Buy” and an average price target of $105.00.

Danaos Trading Up 0.7%

DAC opened at $86.69 on Friday. The firm has a market capitalization of $1.65 billion, a P/E ratio of 3.57 and a beta of 1.45. The firm’s 50 day moving average is $91.54 and its 200-day moving average is $86.95. Danaos Corporation has a 52-week low of $65.40 and a 52-week high of $96.47. The company has a quick ratio of 5.21, a current ratio of 5.36 and a debt-to-equity ratio of 0.20.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Monday, August 4th. The shipping company reported $6.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.52 by ($0.16). The firm had revenue of $262.15 million for the quarter, compared to analysts’ expectations of $247.26 million. Danaos had a net margin of 44.62% and a return on equity of 13.88%. Analysts expect that Danaos Corporation will post 29.21 EPS for the current fiscal year.

Danaos Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Tuesday, August 19th were paid a dividend of $0.85 per share. The ex-dividend date was Tuesday, August 19th. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.9%. Danaos’s dividend payout ratio (DPR) is currently 14.02%.

Danaos Company 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.