UBS Group AG Has $4.70 Million Stock Position in Danaos Corporation $DAC

UBS Group AG lowered its holdings in shares of Danaos Corporation (NYSE:DAC) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,854 shares of the shipping company’s stock after selling 4,598 shares during the period. UBS Group AG owned approximately 0.26% of Danaos worth $4,695,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in DAC. Ion Asset Management Ltd. grew its stake in Danaos by 15.5% in 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 period. Millennium Management LLC grew its stake in Danaos by 161.8% in the third quarter. Millennium Management LLC now owns 133,401 shares of the shipping company’s stock valued at $11,981,000 after acquiring an additional 82,450 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Danaos by 18.5% in the third quarter. JPMorgan Chase & Co. now owns 98,179 shares of the shipping company’s stock valued at $8,817,000 after purchasing an additional 15,345 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Danaos by 20.3% during the third quarter. Bank of America Corp DE now owns 69,270 shares of the shipping company’s stock valued at $6,221,000 after buying an additional 11,672 shares during the last quarter. Finally, Hi Line Capital Management LLC boosted its position in shares of Danaos by 98.6% during the third quarter. Hi Line Capital Management LLC now owns 57,133 shares of the shipping company’s stock valued at $5,131,000 after buying an additional 28,365 shares during the last quarter. Institutional investors and hedge funds own 19.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on DAC shares. Fearnley Fonds raised Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Weiss Ratings raised Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, May 6th. Finally, Freedom Capital raised Danaos to a “hold” rating in a research report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Danaos has an average rating of “Buy” and an average price target of $105.00.

Danaos Stock Performance

Shares of Danaos stock opened at $132.91 on Friday. The business’s fifty day simple moving average is $119.45 and its 200 day simple moving average is $106.93. The firm has a market capitalization of $2.42 billion, a P/E ratio of 4.69 and a beta of 0.90. Danaos Corporation has a 12 month low of $82.75 and a 12 month high of $135.21. The company has a current ratio of 8.66, a quick ratio of 8.40 and a debt-to-equity ratio of 0.26.

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

Danaos Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Tuesday, May 26th will be given a dividend of $0.90 per share. The ex-dividend date is 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%.

Danaos 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.