UBS Group AG cut its position in Danaos Corporation (NYSE:DAC – Free Report) by 8.4% during the 4th quarter, according to the company in its most recent Form 13F filing 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 quarter. UBS Group AG’s holdings in Danaos were worth $4,695,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in DAC. Cubist Systematic Strategies LLC bought a new stake in shares of Danaos in the first quarter valued at $223,000. Goldman Sachs Group Inc. raised its stake in shares of Danaos by 183.6% in the first quarter. Goldman Sachs Group Inc. now owns 46,215 shares of the shipping company’s stock valued at $3,606,000 after buying an additional 29,921 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Danaos by 39.8% in the second quarter. JPMorgan Chase & Co. now owns 82,834 shares of the shipping company’s stock valued at $7,144,000 after buying an additional 23,593 shares during the period. Marshall Wace LLP bought a new stake in shares of Danaos in the second quarter valued at $276,000. Finally, Jump Financial LLC bought a new stake in shares of Danaos in the second quarter valued at $1,682,000. 19.01% of the stock is currently owned by institutional investors.
Danaos Stock Performance
NYSE:DAC opened at $132.91 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 8.40 and a current ratio of 8.66. Danaos Corporation has a 52-week low of $82.75 and a 52-week high of $135.21. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 4.69 and a beta of 0.90. The business’s fifty day moving average is $119.45 and its 200 day moving average is $106.93.
Danaos Announces Dividend
The firm also recently announced 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. This represents a $3.60 annualized dividend and a yield of 2.7%. The ex-dividend date is Tuesday, May 26th. Danaos’s payout ratio is presently 12.70%.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Weiss Ratings upgraded Danaos from a “buy (b)” rating to a “buy (b+)” rating in a research note on Wednesday, May 6th. Fearnley Fonds upgraded Danaos from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Freedom Capital upgraded Danaos to a “hold” rating in a research note on Tuesday, March 10th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Danaos has a consensus rating of “Buy” and an average target price of $105.00.
Read Our Latest Research Report on DAC
Danaos Company 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.
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