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

Teekay Co. (NYSE:TK) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 893,900 shares, an increase of 37.1% from the December 31st total of 652,100 shares. Currently, 1.5% of the company’s stock are sold short. Based on an average daily trading volume, of 945,800 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On Teekay

A number of hedge funds have recently bought and sold shares of TK. New York State Common Retirement Fund lifted its stake in shares of Teekay by 53.4% in the fourth quarter. New York State Common Retirement Fund now owns 8,623 shares of the shipping company’s stock valued at $60,000 after buying an additional 3,000 shares during the period. Principal Financial Group Inc. lifted its position in shares of Teekay by 7.6% in the 4th quarter. Principal Financial Group Inc. now owns 30,012 shares of the shipping company’s stock worth $208,000 after acquiring an additional 2,109 shares during the period. Rhumbline Advisers grew its holdings in shares of Teekay by 8.3% during the 4th quarter. Rhumbline Advisers now owns 118,429 shares of the shipping company’s stock worth $821,000 after purchasing an additional 9,086 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Teekay by 25.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 474,428 shares of the shipping company’s stock valued at $3,333,000 after purchasing an additional 96,155 shares in the last quarter. Finally, Savant Capital LLC acquired a new position in shares of Teekay in the 4th quarter valued at $95,000. 46.73% of the stock is currently owned by institutional investors.

Teekay Stock Performance

Shares of Teekay stock traded down $0.06 during midday trading on Friday, reaching $7.14. 506,309 shares of the company’s stock traded hands, compared to its average volume of 666,889. The company has a market cap of $655.28 million, a price-to-earnings ratio of 4.76 and a beta of 0.54. Teekay has a 52 week low of $5.98 and a 52 week high of $9.95. The company’s 50 day simple moving average is $6.95 and its 200 day simple moving average is $7.84.

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.