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

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

Institutional Trading of Teekay

A number of large investors have recently added to or reduced their stakes in TK. American Century Companies Inc. lifted its holdings in Teekay by 9.9% during the 4th quarter. American Century Companies Inc. now owns 2,022,149 shares of the shipping company’s stock valued at $14,013,000 after purchasing an additional 181,474 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in Teekay by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,877,818 shares of the shipping company’s stock valued at $13,013,000 after buying an additional 34,681 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Teekay by 47.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,043,479 shares of the shipping company’s stock valued at $7,231,000 after acquiring an additional 338,105 shares during the period. Geode Capital Management LLC lifted its position in Teekay by 2.5% during the third quarter. Geode Capital Management LLC now owns 803,936 shares of the shipping company’s stock worth $7,452,000 after acquiring an additional 19,961 shares during the last quarter. Finally, Empowered Funds LLC bought a new position in shares of Teekay during the fourth quarter worth approximately $4,945,000. Institutional investors and hedge funds own 46.73% of the company’s stock.

Teekay Stock Performance

NYSE:TK opened at $6.68 on Friday. The company has a market cap of $613.01 million, a PE ratio of 4.73 and a beta of 0.56. Teekay has a 52-week low of $5.98 and a 52-week high of $9.95. The stock has a 50-day simple moving average of $6.83 and a 200 day simple moving average of $7.48.

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

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.