Teekay Co. (NYSE:TK) Short Interest Update

Teekay Co. (NYSE:TK) saw a significant decline in short interest in September. As of September 15th, there was short interest totalling 743,000 shares, a decline of 20.1% from the August 31st total of 929,500 shares. Based on an average daily trading volume, of 569,300 shares, the short-interest ratio is currently 1.3 days. Currently, 1.3% of the shares of the company are short sold.

Teekay Stock Performance

Shares of TK stock traded down $0.12 on Friday, reaching $9.27. 677,116 shares of the company were exchanged, compared to its average volume of 637,685. The company has a market cap of $843.11 million, a price-to-earnings ratio of 5.72 and a beta of 0.59. The business has a 50-day moving average price of $8.25 and a 200 day moving average price of $8.27. Teekay has a 1 year low of $5.70 and a 1 year high of $9.95.

Teekay (NYSE:TK) last released its earnings results on Thursday, August 1st. The shipping company reported $0.35 EPS for the quarter. The business had revenue of $326.14 million during the quarter. Teekay had a net margin of 11.18% and a return on equity of 7.03%.

Hedge Funds Weigh In On Teekay

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its holdings in Teekay by 19.2% in the 2nd quarter. Renaissance Technologies LLC now owns 4,026,075 shares of the shipping company’s stock valued at $36,114,000 after purchasing an additional 649,900 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in Teekay in the 4th quarter valued at about $3,673,000. Dimensional Fund Advisors LP boosted its holdings in Teekay by 9.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,084,487 shares of the shipping company’s stock valued at $36,354,000 after purchasing an additional 449,307 shares during the last quarter. American Century Companies Inc. boosted its holdings in Teekay by 27.2% in the 2nd quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock valued at $13,871,000 after purchasing an additional 331,002 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Teekay by 210.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 337,745 shares of the shipping company’s stock valued at $3,030,000 after purchasing an additional 228,856 shares during the last quarter. 46.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Teekay from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 28th.

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.