Teekay Co. (NYSE:TK) Short Interest Update

Teekay Co. (NYSE:TK) was the target of a significant drop in short interest in March. As of March 15th, there was short interest totalling 947,300 shares, a drop of 26.6% from the February 28th total of 1,290,000 shares. Based on an average trading volume of 723,300 shares, the short-interest ratio is presently 1.3 days. Approximately 1.9% of the company’s shares are short sold.

Institutional Investors Weigh In On Teekay

Hedge funds have recently bought and sold shares of the business. R Squared Ltd purchased a new position in Teekay during the 4th quarter valued at about $27,000. New Age Alpha Advisors LLC purchased a new position in Teekay during the fourth quarter valued at approximately $56,000. New York State Common Retirement Fund grew its position in 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 valued at $60,000 after purchasing an additional 3,000 shares in the last quarter. Pinnacle Holdings LLC lifted its position in Teekay by 100.0% in 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 in the last quarter. Finally, Denali Advisors LLC acquired a new stake in shares of Teekay during the 4th quarter valued at $70,000. 46.73% of the stock is owned by hedge funds and other institutional investors.

Teekay Stock Down 1.3 %

Shares of TK stock traded down $0.09 during trading hours on Monday, reaching $6.59. 680,651 shares of the stock traded hands, compared to its average volume of 712,773. The business has a fifty day moving average price of $6.81 and a 200 day moving average price of $7.46. Teekay has a 1-year low of $5.98 and a 1-year high of $9.95. The firm has a market capitalization of $604.74 million, a PE ratio of 4.67 and a beta of 0.56.

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

About Teekay

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.