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

Teekay Co. (NYSE:TK) saw a large decrease in short interest in 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. Based on an average daily volume of 723,300 shares, the days-to-cover ratio is currently 1.3 days. Approximately 1.9% of the shares of the stock are sold short.

Teekay Stock Up 0.5 %

Shares of Teekay stock opened at $6.68 on Friday. The firm’s 50-day moving average price is $6.83 and its two-hundred day moving average price is $7.48. The company has a market capitalization of $613.01 million, a price-to-earnings ratio of 4.73 and a beta of 0.56. Teekay has a 12-month low of $5.98 and a 12-month high of $9.95.

Teekay (NYSE:TK) last announced 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 for the quarter.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. PharVision Advisers LLC acquired a new stake in shares of Teekay during the 4th quarter valued at $75,000. Squarepoint Ops LLC acquired a new position in shares of Teekay in the fourth quarter valued at approximately $415,000. Wexford Capital LP increased its stake in shares of Teekay by 180.3% in the fourth quarter. Wexford Capital LP now owns 161,722 shares of the shipping company’s stock valued at $1,121,000 after buying an additional 104,032 shares during the period. Tidal Investments LLC acquired a new stake in Teekay during the 4th quarter worth approximately $227,000. Finally, State of Wyoming grew its holdings in Teekay by 60.5% during the 4th quarter. State of Wyoming now owns 39,306 shares of the shipping company’s stock worth $272,000 after acquiring an additional 14,809 shares during the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.

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.