Short Interest in Teekay Co. (NYSE:TK) Grows By 24.0%

Teekay Co. (NYSE:TK) saw a large growth in short interest in the month of 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. Approximately 2.4% of the shares of the company are sold short. Based on an average trading volume of 764,400 shares, the short-interest ratio is currently 1.7 days.

Teekay Stock Performance

TK stock opened at $6.68 on Wednesday. Teekay has a one year low of $5.98 and a one year high of $9.95. The stock has a market capitalization of $613.56 million, a PE ratio of 4.70 and a beta of 0.56. The company has a fifty day moving average of $6.96 and a 200-day moving average of $7.55.

Teekay (NYSE:TK) last released its earnings results on Wednesday, February 19th. The shipping company reported $0.19 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 Trading of Teekay

Several hedge funds have recently made changes to their positions in TK. R Squared Ltd purchased a new position in shares of Teekay in the 4th quarter valued at about $27,000. New Age Alpha Advisors LLC purchased a new position in shares of Teekay in the 4th quarter valued at about $56,000. New York State Common Retirement Fund increased its holdings in shares of Teekay by 53.4% in the 4th 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 increased its holdings in shares of Teekay by 100.0% in the 4th quarter. Pinnacle Holdings LLC now owns 10,028 shares of the shipping company’s stock valued at $69,000 after purchasing an additional 5,014 shares in the last quarter. Finally, Denali Advisors LLC purchased a new position in shares of Teekay in the 4th quarter valued at about $70,000. Institutional investors and hedge funds own 46.73% of the company’s stock.

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.