Y Intercept Hong Kong Ltd Purchases New Position in Danaos Corporation $DAC

Y Intercept Hong Kong Ltd bought a new stake in Danaos Corporation (NYSE:DAC) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,057 shares of the shipping company’s stock, valued at approximately $264,000.

Several other institutional investors and hedge funds have also modified their holdings of DAC. PFG Advisors increased its holdings in Danaos by 4.8% during the 1st quarter. PFG Advisors now owns 6,135 shares of the shipping company’s stock valued at $479,000 after purchasing an additional 279 shares in the last quarter. Inspire Advisors LLC grew its holdings in shares of Danaos by 262.3% during the first quarter. Inspire Advisors LLC now owns 11,923 shares of the shipping company’s stock worth $930,000 after purchasing an additional 8,632 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Danaos by 119.0% in the first quarter. XTX Topco Ltd now owns 20,207 shares of the shipping company’s stock valued at $1,577,000 after buying an additional 10,981 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Danaos by 3.2% in 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 during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Danaos in the first quarter valued at about $335,000. 19.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on DAC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Danaos in a research report on Wednesday, October 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $105.00 target price on shares of Danaos in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $105.00.

Danaos Price Performance

Shares of DAC opened at $92.04 on Friday. The stock has a market cap of $1.75 billion, a P/E ratio of 3.80 and a beta of 1.49. Danaos Corporation has a 1 year low of $65.40 and a 1 year high of $96.47. The stock’s 50-day moving average price is $90.44 and its two-hundred day moving average price is $88.76. The company has a current ratio of 5.36, a quick ratio of 5.21 and a debt-to-equity ratio of 0.20.

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.