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

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

Hedge Funds Weigh In On Teekay

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TK. Empowered Funds LLC bought a new position in Teekay during the 4th quarter valued at $4,945,000. Millennium Management LLC bought a new stake in shares of Teekay during the 4th quarter worth $3,245,000. JPMorgan Chase & Co. boosted its stake in shares of Teekay by 108.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 705,374 shares of the shipping company’s stock worth $6,489,000 after acquiring an additional 367,527 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Teekay by 738.1% during the 4th quarter. Alliancebernstein L.P. now owns 357,890 shares of the shipping company’s stock worth $2,480,000 after acquiring an additional 315,190 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Teekay by 9.9% during the 4th quarter. American Century Companies Inc. now owns 2,022,149 shares of the shipping company’s stock worth $14,013,000 after acquiring an additional 181,474 shares in the last quarter. 46.73% of the stock is owned by institutional investors.

Teekay Stock Performance

Shares of NYSE TK opened at $6.66 on Friday. The stock has a fifty day moving average price of $7.04 and a two-hundred day moving average price of $7.65. The firm has a market cap of $611.17 million, a P/E ratio of 4.72 and a beta of 0.56. Teekay has a 1 year low of $5.98 and a 1 year high of $9.95.

Teekay (NYSE:TK) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.19 earnings per share (EPS) for the quarter. The firm 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.