Teekay Co. (NYSE:TK) Sees Significant Increase in Short Interest

Teekay Co. (NYSE:TK) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 1,040,000 shares, a growth of 22.1% from the January 31st total of 851,900 shares. Currently, 1.9% of the company’s shares are short sold. Based on an average daily volume of 818,800 shares, the short-interest ratio is currently 1.3 days.

Institutional Trading of Teekay

A number of hedge funds have recently bought and sold shares of TK. R Squared Ltd acquired a new position in shares of Teekay during the fourth quarter worth $27,000. New Age Alpha Advisors LLC acquired a new position in shares of Teekay during the fourth quarter worth $56,000. New York State Common Retirement Fund increased its position in shares of Teekay by 53.4% during the fourth quarter. New York State Common Retirement Fund now owns 8,623 shares of the shipping company’s stock worth $60,000 after purchasing an additional 3,000 shares in the last quarter. Pinnacle Holdings LLC increased its position in shares of Teekay by 100.0% during the fourth quarter. Pinnacle Holdings LLC now owns 10,028 shares of the shipping company’s stock worth $69,000 after purchasing an additional 5,014 shares in the last quarter. Finally, Denali Advisors LLC acquired a new position in shares of Teekay during the fourth quarter worth $70,000. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Teekay Stock Down 3.5 %

Teekay stock opened at $6.47 on Thursday. The business has a fifty day moving average of $7.05 and a two-hundred day moving average of $7.67. The firm has a market cap of $593.72 million, a P/E ratio of 4.59 and a beta of 0.51. Teekay has a twelve month low of $5.98 and a twelve month high of $9.95.

Teekay (NYSE:TK) last posted its earnings results on Wednesday, February 19th. The shipping company reported $0.19 earnings per share for the quarter. The company had revenue of $161.63 million during the quarter. Teekay had a return on equity of 5.67% and a net margin of 10.96%.

Teekay Company Profile

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.