Danaos Co. (NYSE:DAC) Short Interest Up 8.1% in November

Danaos Co. (NYSE:DAC) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 466,300 shares, an increase of 8.1% from the October 31st total of 431,500 shares. Approximately 4.8% of the company’s shares are sold short. Based on an average daily trading volume, of 110,500 shares, the short-interest ratio is currently 4.2 days.

Institutional Investors Weigh In On Danaos

Hedge funds and other institutional investors have recently made changes to their positions in the business. Oppenheimer & Co. Inc. bought a new stake in shares of Danaos during the third quarter worth $935,000. Corsair Capital Management L.P. bought a new stake in shares of Danaos in the third quarter worth $607,000. Gordian Capital Singapore Pte Ltd lifted its holdings in Danaos by 17,600,000.0% in the second quarter. Gordian Capital Singapore Pte Ltd now owns 176,001 shares of the shipping company’s stock valued at $16,255,000 after buying an additional 176,000 shares during the period. Sei Investments Co. lifted its holdings in Danaos by 56.9% in the second quarter. Sei Investments Co. now owns 32,242 shares of the shipping company’s stock valued at $2,978,000 after buying an additional 11,687 shares during the period. Finally, Inspire Advisors LLC lifted its holdings in Danaos by 144.2% in the third quarter. Inspire Advisors LLC now owns 12,429 shares of the shipping company’s stock valued at $1,078,000 after buying an additional 7,340 shares during the period. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Danaos Stock Down 1.5 %

NYSE DAC traded down $1.27 on Wednesday, reaching $80.75. The company had a trading volume of 50,292 shares, compared to its average volume of 108,302. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 2.84 and a beta of 1.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.78 and a current ratio of 3.93. Danaos has a 1-year low of $66.45 and a 1-year high of $98.25. The company’s fifty day moving average is $83.78 and its 200-day moving average is $85.36.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Tuesday, November 12th. The shipping company reported $6.50 EPS for the quarter, missing analysts’ consensus estimates of $6.86 by ($0.36). The business had revenue of $256.18 million for the quarter, compared to analyst estimates of $251.16 million. Danaos had a return on equity of 16.68% and a net margin of 56.16%. During the same quarter in the prior year, the company earned $7.26 earnings per share. On average, research analysts forecast that Danaos will post 27.56 earnings per share for the current fiscal year.

Danaos Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 4th. Shareholders of record on Monday, November 25th will be issued a $0.85 dividend. This is a boost from Danaos’s previous quarterly dividend of $0.80. This represents a $3.40 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Monday, November 25th. Danaos’s dividend payout ratio is currently 11.76%.

Analyst Ratings Changes

A number of analysts recently commented on DAC shares. Jefferies Financial Group restated a “buy” rating and issued a $105.00 price objective on shares of Danaos in a research report on Tuesday, November 12th. StockNews.com lowered shares of Danaos from a “buy” rating to a “hold” rating in a research note on Tuesday, November 12th.

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.