Navellier & Associates Inc. Raises Stake in Teekay Tankers Ltd. (NYSE:TNK)

Navellier & Associates Inc. grew its stake in Teekay Tankers Ltd. (NYSE:TNKFree Report) by 24.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,738 shares of the shipping company’s stock after acquiring an additional 4,309 shares during the quarter. Navellier & Associates Inc.’s holdings in Teekay Tankers were worth $905,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Moran Wealth Management LLC increased its stake in shares of Teekay Tankers by 3.6% in the 2nd quarter. Moran Wealth Management LLC now owns 6,580 shares of the shipping company’s stock worth $252,000 after acquiring an additional 226 shares during the last quarter. FMR LLC increased its stake in shares of Teekay Tankers by 41.9% in the 1st quarter. FMR LLC now owns 1,019 shares of the shipping company’s stock worth $44,000 after acquiring an additional 301 shares during the last quarter. State of Wyoming increased its stake in shares of Teekay Tankers by 5.6% in the 2nd quarter. State of Wyoming now owns 8,423 shares of the shipping company’s stock worth $322,000 after acquiring an additional 444 shares during the last quarter. American International Group Inc. increased its stake in shares of Teekay Tankers by 4.4% in the 2nd quarter. American International Group Inc. now owns 11,516 shares of the shipping company’s stock worth $440,000 after acquiring an additional 481 shares during the last quarter. Finally, UBS Group AG increased its stake in shares of Teekay Tankers by 2.0% in the 3rd quarter. UBS Group AG now owns 25,852 shares of the shipping company’s stock worth $1,076,000 after acquiring an additional 509 shares during the last quarter. 48.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Bank of America upgraded Teekay Tankers from a “neutral” rating to a “buy” rating and increased their price target for the stock from $56.00 to $72.00 in a report on Friday, January 19th.

Check Out Our Latest Stock Analysis on TNK

Teekay Tankers Stock Performance

NYSE TNK opened at $59.15 on Tuesday. The stock has a market cap of $2.02 billion, a PE ratio of 3.72, a P/E/G ratio of 1.37 and a beta of -0.24. The company has a current ratio of 3.58, a quick ratio of 3.18 and a debt-to-equity ratio of 0.09. Teekay Tankers Ltd. has a twelve month low of $35.00 and a twelve month high of $64.42. The stock has a fifty day simple moving average of $54.44 and a 200-day simple moving average of $48.00.

About Teekay Tankers

(Free Report)

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; and offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.

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Institutional Ownership by Quarter for Teekay Tankers (NYSE:TNK)

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