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

Teekay Co. (NYSE:TK) saw a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 1,040,000 shares, a growth of 22.1% from the January 31st total of 851,900 shares. Approximately 1.9% of the company’s shares are sold short. Based on an average trading volume of 818,800 shares, the days-to-cover ratio is currently 1.3 days.

Teekay Price Performance

Shares of NYSE TK opened at $6.47 on Thursday. Teekay has a 1-year low of $5.98 and a 1-year high of $9.95. The business’s 50 day moving average is $7.05 and its two-hundred day moving average is $7.67. The stock has a market capitalization of $593.72 million, a P/E ratio of 4.59 and a beta of 0.51.

Teekay (NYSE:TK) last announced its earnings results on Wednesday, February 19th. The shipping company reported $0.19 earnings per share (EPS) for the quarter. Teekay had a return on equity of 5.67% and a net margin of 10.96%. The business had revenue of $161.63 million during the quarter.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. PharVision Advisers LLC purchased a new position in shares of Teekay during the fourth quarter valued at approximately $75,000. Squarepoint Ops LLC purchased a new stake in shares of Teekay in the fourth quarter valued at approximately $415,000. Wexford Capital LP boosted its holdings 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 purchasing an additional 104,032 shares during the period. Tidal Investments LLC purchased a new stake in shares of Teekay in the fourth quarter valued at approximately $227,000. Finally, State of Wyoming boosted its holdings in shares of Teekay by 60.5% in the fourth quarter. State of Wyoming now owns 39,306 shares of the shipping company’s stock valued at $272,000 after purchasing an additional 14,809 shares during the period. Hedge funds and other institutional investors own 46.73% of the company’s stock.

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.