Danaos (NYSE:DAC) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Danaos Corporation (NYSE:DAC) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $112.20 and traded as high as $128.58. Danaos shares last traded at $127.1080, with a volume of 102,079 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings raised Danaos from a “buy (b)” rating to a “buy (b+)” rating in a report on Wednesday, May 6th. Freedom Capital raised Danaos to a “hold” rating in a report on Tuesday, March 10th. Finally, Fearnley Fonds raised shares of Danaos from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $105.00.

Danaos Stock Down 1.7%

The firm has a 50-day moving average price of $126.72 and a 200 day moving average price of $112.60. The company has a debt-to-equity ratio of 0.26, a current ratio of 8.66 and a quick ratio of 8.40. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 4.42 and a beta of 0.91.

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

Danaos Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Tuesday, May 26th were paid a $0.90 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $3.60 annualized dividend and a yield of 2.9%. Danaos’s payout ratio is 12.70%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Ion Asset Management Ltd. boosted its stake in shares of Danaos by 15.5% in the second quarter. Ion Asset Management Ltd. now owns 654,308 shares of the shipping company’s stock valued at $56,428,000 after buying an additional 87,614 shares during the period. ION Fund Management Ltd bought a new position in Danaos during the 4th quarter worth $39,538,000. Millennium Management LLC raised its holdings in Danaos by 161.8% in the 3rd quarter. Millennium Management LLC now owns 133,401 shares of the shipping company’s stock valued at $11,981,000 after acquiring an additional 82,450 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Danaos by 13.8% in the 4th quarter. JPMorgan Chase & Co. now owns 111,750 shares of the shipping company’s stock valued at $10,525,000 after acquiring an additional 13,571 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Danaos by 58.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 106,089 shares of the shipping company’s stock valued at $9,991,000 after acquiring an additional 38,958 shares during the period. Institutional investors and hedge funds own 19.01% of the company’s stock.

About Danaos

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.