Avior Wealth Management LLC Purchases 451 Shares of Danaos Co. (NYSE:DAC)

Avior Wealth Management LLC grew its position in Danaos Co. (NYSE:DAC) by 24.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,321 shares of the shipping company’s stock after acquiring an additional 451 shares during the quarter. Avior Wealth Management LLC’s holdings in Danaos were worth $186,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. National Bank of Canada FI lifted its position in Danaos by 4.9% in the third quarter. National Bank of Canada FI now owns 3,871 shares of the shipping company’s stock worth $336,000 after purchasing an additional 182 shares during the period. nVerses Capital LLC raised its stake in shares of Danaos by 75.0% in the 3rd quarter. nVerses Capital LLC now owns 700 shares of the shipping company’s stock valued at $61,000 after buying an additional 300 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of Danaos by 18.1% during the 4th quarter. Ballentine Partners LLC now owns 3,053 shares of the shipping company’s stock worth $244,000 after acquiring an additional 467 shares during the period. Redhawk Wealth Advisors Inc. boosted its position in shares of Danaos by 5.5% during the 4th quarter. Redhawk Wealth Advisors Inc. now owns 9,258 shares of the shipping company’s stock valued at $741,000 after acquiring an additional 485 shares in the last quarter. Finally, State Street Corp increased its stake in Danaos by 2.3% in the third quarter. State Street Corp now owns 24,098 shares of the shipping company’s stock valued at $2,090,000 after acquiring an additional 547 shares during the period. Institutional investors and hedge funds own 19.01% of the company’s stock.

Danaos Trading Up 0.4 %

Shares of DAC stock opened at $77.76 on Tuesday. The company has a market capitalization of $1.51 billion, a P/E ratio of 2.69 and a beta of 1.47. Danaos Co. has a 12-month low of $69.33 and a 12-month high of $98.25. The company has a quick ratio of 3.78, a current ratio of 3.93 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average price of $79.92 and a 200 day moving average price of $82.04.

Danaos (NYSE:DAC) last posted its earnings results on Tuesday, November 12th. The shipping company reported $6.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.86 by ($0.36). The firm had revenue of $256.18 million during the quarter, compared to the consensus estimate of $251.16 million. Danaos had a net margin of 56.16% and a return on equity of 16.68%. During the same quarter last year, the firm posted $7.26 EPS. Research analysts forecast that Danaos Co. will post 26.99 earnings per share for the current fiscal year.

Danaos Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 4th. Stockholders of record on Monday, November 25th were issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend was Monday, November 25th. This is a boost from Danaos’s previous quarterly dividend of $0.80. Danaos’s dividend payout ratio is presently 11.76%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DAC. StockNews.com downgraded Danaos from a “buy” rating to a “hold” rating in a 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 research report on Tuesday, November 12th.

About Danaos

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.