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

Teekay Co. (NYSE:TK) saw a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 1,290,000 shares, a growth of 24.0% from the February 13th total of 1,040,000 shares. Approximately 2.4% of the company’s stock are short sold. Based on an average daily volume of 764,400 shares, the days-to-cover ratio is currently 1.7 days.

Hedge Funds Weigh In On Teekay

Hedge funds have recently bought and sold shares of the business. R Squared Ltd bought a new stake in Teekay in the 4th quarter worth approximately $27,000. New Age Alpha Advisors LLC bought a new stake in shares of Teekay in the fourth quarter worth $56,000. New York State Common Retirement Fund increased its position in Teekay by 53.4% during 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 acquiring an additional 3,000 shares during the last quarter. Pinnacle Holdings LLC lifted its holdings in Teekay by 100.0% in the fourth quarter. Pinnacle Holdings LLC now owns 10,028 shares of the shipping company’s stock valued at $69,000 after acquiring an additional 5,014 shares during the period. Finally, Denali Advisors LLC purchased a new position in Teekay in the fourth quarter worth about $70,000. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Teekay Stock Performance

Shares of NYSE:TK traded up $0.11 during trading on Monday, reaching $6.60. 645,791 shares of the stock traded hands, compared to its average volume of 679,471. The stock has a market cap of $605.66 million, a P/E ratio of 4.68 and a beta of 0.56. The stock has a 50-day moving average of $6.98 and a two-hundred day moving average of $7.58. Teekay has a 52-week low of $5.98 and a 52-week high of $9.95.

Teekay (NYSE:TK) last issued its earnings results on Wednesday, February 19th. The shipping company reported $0.19 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 for the quarter.

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.