Y Intercept Hong Kong Ltd Makes New $489,000 Investment in Danaos Corporation $DAC

Y Intercept Hong Kong Ltd acquired a new stake in shares of Danaos Corporation (NYSE:DAC) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,344 shares of the shipping company’s stock, valued at approximately $489,000.

Other hedge funds have also modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its holdings in shares of Danaos by 3.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 4,671 shares of the shipping company’s stock worth $440,000 after buying an additional 165 shares during the period. R Squared Ltd lifted its holdings in shares of Danaos by 12.0% in the fourth quarter. R Squared Ltd now owns 2,824 shares of the shipping company’s stock valued at $266,000 after purchasing an additional 303 shares in the last quarter. State Street Corp boosted its position in shares of Danaos by 2.4% in the fourth quarter. State Street Corp now owns 15,761 shares of the shipping company’s stock worth $1,484,000 after buying an additional 372 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Danaos in the fourth quarter worth $43,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of Danaos by 165.0% during the fourth quarter. Farther Finance Advisors LLC now owns 779 shares of the shipping company’s stock valued at $73,000 after buying an additional 485 shares in the last quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Danaos Stock Performance

Shares of NYSE DAC opened at $129.43 on Wednesday. The business’s 50-day moving average price is $128.50 and its two-hundred day moving average price is $115.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.66 and a quick ratio of 8.40. Danaos Corporation has a one year low of $83.56 and a one year high of $135.21. The company has a market capitalization of $2.36 billion, a P/E ratio of 4.57 and a beta of 0.89.

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

Danaos Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 30th. Investors of record on Tuesday, July 21st will be issued a $0.90 dividend. The ex-dividend date is Tuesday, July 21st. This represents a $3.60 dividend on an annualized basis and a yield of 2.8%. Danaos’s dividend payout ratio is currently 12.70%.

Analysts Set New Price Targets

Several research analysts recently weighed in on DAC shares. Weiss Ratings lowered Danaos from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, June 29th. Fearnley Fonds raised Danaos from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $105.00.

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.