Short Interest in Teekay Co. (NYSE:TK) Increases By 37.1%

Teekay Co. (NYSE:TK) was the recipient of a large growth in short interest in December. As of December 31st, there was short interest totalling 893,900 shares, a growth of 37.1% from the December 15th total of 652,100 shares. Approximately 1.5% of the shares of the company are sold short. Based on an average trading volume of 945,800 shares, the short-interest ratio is currently 0.9 days.

Teekay Price Performance

Shares of TK traded down $0.10 during midday trading on Friday, reaching $7.42. The stock had a trading volume of 599,629 shares, compared to its average volume of 760,445. Teekay has a 52 week low of $5.98 and a 52 week high of $9.95. The firm’s 50 day moving average price is $7.13 and its 200-day moving average price is $7.94. The company has a market capitalization of $680.99 million, a P/E ratio of 4.94 and a beta of 0.54.

Teekay Dividend Announcement

The business also recently announced a — dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a $1.00 dividend. The ex-dividend date was Wednesday, December 4th. Teekay’s payout ratio is 16.67%.

Hedge Funds Weigh In On Teekay

Hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd grew its holdings in shares of Teekay by 885.2% during the second quarter. Point72 DIFC Ltd now owns 4,798 shares of the shipping company’s stock valued at $43,000 after buying an additional 4,311 shares in the last quarter. Quarry LP grew its holdings in shares of Teekay by 90.6% during the second quarter. Quarry LP now owns 8,415 shares of the shipping company’s stock valued at $75,000 after buying an additional 4,000 shares in the last quarter. MML Investors Services LLC purchased a new position in shares of Teekay during the third quarter valued at $100,000. Diversified Trust Co grew its holdings in shares of Teekay by 13.2% during the fourth quarter. Diversified Trust Co now owns 16,090 shares of the shipping company’s stock valued at $112,000 after buying an additional 1,879 shares in the last quarter. Finally, PDT Partners LLC purchased a new position in shares of Teekay during the third quarter valued at $141,000. 46.73% of the stock is currently owned by institutional investors and hedge funds.

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.