Teekay Co. (NYSE:TK) Sees Large Decline in Short Interest

Teekay Co. (NYSE:TK) was the target of a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 947,300 shares, a decrease of 26.6% from the February 28th total of 1,290,000 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average daily volume of 723,300 shares, the days-to-cover ratio is presently 1.3 days.

Hedge Funds Weigh In On Teekay

Hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in Teekay by 296.1% during the third quarter. FMR LLC now owns 73,797 shares of the shipping company’s stock valued at $679,000 after buying an additional 55,167 shares in the last quarter. PEAK6 Investments LLC lifted its holdings in Teekay by 704.1% in the 3rd quarter. PEAK6 Investments LLC now owns 55,253 shares of the shipping company’s stock valued at $508,000 after acquiring an additional 64,399 shares during the last quarter. Verition Fund Management LLC boosted its position in shares of Teekay by 209.4% during the 3rd quarter. Verition Fund Management LLC now owns 59,291 shares of the shipping company’s stock valued at $545,000 after purchasing an additional 40,126 shares in the last quarter. PDT Partners LLC acquired a new position in shares of Teekay in the 3rd quarter worth approximately $141,000. Finally, Wexford Capital LP bought a new stake in shares of Teekay in the 3rd quarter worth approximately $531,000. 46.73% of the stock is currently owned by institutional investors and hedge funds.

Teekay Trading Down 1.3 %

TK traded down $0.09 on Monday, reaching $6.59. The company had a trading volume of 680,651 shares, compared to its average volume of 712,773. Teekay has a one year low of $5.98 and a one year high of $9.95. The company has a market capitalization of $604.74 million, a P/E ratio of 4.67 and a beta of 0.56. The company has a fifty day moving average of $6.81 and a 200-day moving average of $7.46.

Teekay (NYSE:TK) last posted 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 business had revenue of $161.63 million during the quarter.

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.