Danaos Corporation $DAC Position Trimmed by Ion Asset Management Ltd.

Ion Asset Management Ltd. decreased its stake in shares of Danaos Corporation (NYSE:DAC) by 39.7% during the third quarter, HoldingsChannel reports. The firm owned 394,345 shares of the shipping company’s stock after selling 259,963 shares during the quarter. Danaos makes up about 3.9% of Ion Asset Management Ltd.’s investment portfolio, making the stock its 10th largest position. Ion Asset Management Ltd.’s holdings in Danaos were worth $35,416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Danaos during the second quarter worth $64,000. Tower Research Capital LLC TRC acquired a new position in shares of Danaos in the 2nd quarter valued at $67,000. TD Waterhouse Canada Inc. purchased a new position in Danaos in the 2nd quarter worth $107,000. State of Wyoming lifted its position in Danaos by 205.3% during the 2nd quarter. State of Wyoming now owns 2,128 shares of the shipping company’s stock worth $184,000 after acquiring an additional 1,431 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Danaos during the 1st quarter valued at about $223,000. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Freedom Capital raised Danaos to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Danaos in a report on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $105.00.

Danaos Stock Down 1.7%

Shares of DAC opened at $107.05 on Monday. The company has a current ratio of 3.28, a quick ratio of 3.23 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.95 billion, a P/E ratio of 4.00 and a beta of 0.98. The stock’s 50 day moving average is $105.45 and its two-hundred day moving average is $97.11. Danaos Corporation has a 12 month low of $65.40 and a 12 month high of $118.82.

Danaos (NYSE:DAC) last announced its earnings results on Monday, February 9th. The shipping company reported $7.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.46 by $0.68. Danaos had a return on equity of 13.31% and a net margin of 47.45%.The firm had revenue of $266.27 million for the quarter, compared to analyst estimates of $253.00 million. Analysts predict that Danaos Corporation will post 29.21 earnings per share for the current fiscal year.

Danaos Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, February 23rd. Danaos’s dividend payout ratio (DPR) is presently 13.44%.

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.