Harel Insurance Investments & Financial Services Ltd. Has $118,000 Stock Position in Danaos Co. (NYSE:DAC)

Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Danaos Co. (NYSE:DAC) by 14.2% in the 4th quarter, Holdings Channel reports. The firm owned 1,600 shares of the shipping company’s stock after acquiring an additional 199 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in Danaos were worth $118,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DAC. Raymond James & Associates bought a new stake in shares of Danaos during the first quarter worth $906,000. Natixis Advisors L.P. grew its stake in shares of Danaos by 26.5% during the first quarter. Natixis Advisors L.P. now owns 14,098 shares of the shipping company’s stock worth $1,446,000 after buying an additional 2,951 shares during the last quarter. Cibc World Market Inc. bought a new stake in shares of Danaos during the first quarter worth $347,000. Sei Investments Co. bought a new stake in shares of Danaos during the first quarter worth $923,000. Finally, Allianz Asset Management GmbH bought a new stake in shares of Danaos during the first quarter worth $4,921,000. 19.01% of the stock is currently owned by institutional investors and hedge funds.

Danaos Stock Performance

NYSE DAC opened at $72.39 on Tuesday. The stock has a market cap of $1.41 billion, a PE ratio of 2.50 and a beta of 1.30. Danaos Co. has a fifty-two week low of $53.89 and a fifty-two week high of $80.39. The firm’s fifty day moving average price is $72.30 and its two-hundred day moving average price is $71.04. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.84 and a current ratio of 2.98.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Tuesday, February 13th. The shipping company reported $6.99 earnings per share for the quarter, missing analysts’ consensus estimates of $7.70 by ($0.71). The company had revenue of $249.32 million during the quarter, compared to analyst estimates of $254.37 million. Danaos had a net margin of 59.19% and a return on equity of 19.94%. On average, equities analysts expect that Danaos Co. will post 31.33 EPS for the current fiscal year.

Danaos Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Wednesday, February 28th were issued a dividend of $0.80 per share. The ex-dividend date was Tuesday, February 27th. This represents a $3.20 dividend on an annualized basis and a yield of 4.42%. Danaos’s payout ratio is currently 11.05%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Danaos in a research note on Wednesday, February 14th.

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.