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

Teekay Co. (NYSE:TK) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 1,290,000 shares, a growth of 24.0% from the February 13th total of 1,040,000 shares. Based on an average trading volume of 764,400 shares, the short-interest ratio is presently 1.7 days. Currently, 2.4% of the company’s stock are sold short.

Teekay Trading Up 0.4 %

Shares of TK stock traded up $0.03 during trading hours on Tuesday, hitting $6.63. 567,485 shares of the company were exchanged, compared to its average volume of 681,936. The business has a 50 day moving average of $6.96 and a two-hundred day moving average of $7.55. Teekay has a 52 week low of $5.98 and a 52 week high of $9.95. The company has a market capitalization of $608.41 million, a PE ratio of 4.70 and a beta of 0.56.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TK. R Squared Ltd acquired a new stake in Teekay in the fourth quarter valued at $27,000. New Age Alpha Advisors LLC acquired a new stake in shares of Teekay during the 4th quarter worth about $56,000. New York State Common Retirement Fund lifted its stake in shares of Teekay by 53.4% during the 4th quarter. New York State Common Retirement Fund now owns 8,623 shares of the shipping company’s stock worth $60,000 after buying an additional 3,000 shares during the last quarter. Pinnacle Holdings LLC lifted its stake in shares of Teekay by 100.0% during the 4th quarter. Pinnacle Holdings LLC now owns 10,028 shares of the shipping company’s stock worth $69,000 after buying an additional 5,014 shares during the last quarter. Finally, Denali Advisors LLC acquired a new stake in shares of Teekay during the 4th quarter worth about $70,000. Institutional investors own 46.73% of the company’s stock.

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.