Danaos (NYSE:DAC) Stock Price Breaks Above 200-Day Moving Average – Should You Sell?

Danaos Corporation (NYSE:DAC)’s stock price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $131.01 and traded as high as $156.63. Danaos shares last traded at $154.32, with a volume of 111,687 shares trading hands.

Analyst Ratings Changes

DAC has been the subject of several recent analyst reports. Freedom Capital upgraded shares of Danaos from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Danaos from a “buy (b+)” rating to a “buy (a-)” rating in a report on Tuesday, July 28th. Three equities research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat, Danaos presently has an average rating of “Strong Buy”.

Danaos Stock Down 0.6%

The company has a quick ratio of 9.15, a current ratio of 9.30 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $2.80 billion, a PE ratio of 5.20 and a beta of 0.87. The stock has a 50-day moving average of $147.04 and a 200 day moving average of $131.32.

Danaos (NYSE:DAC) last posted its quarterly earnings data on Monday, August 3rd. The shipping company reported $7.29 earnings per share for the quarter, topping the consensus estimate of $6.80 by $0.49. The business had revenue of $274.37 million for the quarter, compared to analysts’ expectations of $258.27 million. Danaos had a return on equity of 13.20% and a net margin of 51.26%.

Danaos Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 30th. Investors of record on Tuesday, July 21st were issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Tuesday, July 21st. Danaos’s payout ratio is 12.18%.

Institutional Trading of Danaos

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC raised its position in shares of Danaos by 117.1% in the first quarter. Renaissance Technologies LLC now owns 83,800 shares of the shipping company’s stock valued at $9,439,000 after purchasing an additional 45,200 shares during the period. Sei Investments Co. grew its stake in Danaos by 99.1% in the 1st quarter. Sei Investments Co. now owns 44,248 shares of the shipping company’s stock valued at $4,984,000 after buying an additional 22,028 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in Danaos in the 2nd quarter valued at approximately $1,716,000. Public Employees Retirement System of Ohio bought a new stake in Danaos during the 2nd quarter valued at $1,519,000. Finally, Midwest Professional Planners LTD. raised its holdings in Danaos by 225.1% during the 2nd quarter. Midwest Professional Planners LTD. now owns 16,855 shares of the shipping company’s stock valued at $2,063,000 after acquiring an additional 11,670 shares during the period. Hedge funds and other institutional investors own 19.01% of the company’s stock.

About Danaos

Danaos Corporation (NYSE: DAC) is a Greek-based owner and operator of containerships. The company provides marine transportation services by chartering its vessels to major container-shipping companies, which use them to transport manufactured goods, commodities and other cargo on international trade routes.

Founded in 1972, Danaos has developed a globally deployed fleet serving the liner shipping industry. Its vessels operate across major maritime regions and support container trade between Asia, Europe, North America and other international markets.