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

Teekay Co. (NYSE:TK) was the target of a large growth in short interest in 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. Based on an average daily volume of 764,400 shares, the days-to-cover ratio is currently 1.7 days. Approximately 2.4% of the shares of the company are sold short.

Teekay Price Performance

Teekay stock traded up $0.03 during midday trading on Tuesday, hitting $6.63. The company’s stock had a trading volume of 567,485 shares, compared to its average volume of 681,936. Teekay has a 1-year low of $5.98 and a 1-year high of $9.95. The company has a 50-day moving average price of $6.96 and a two-hundred day moving average price of $7.55. The company has a market cap of $608.41 million, a price-to-earnings ratio of 4.70 and a beta of 0.56.

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

Institutional Investors Weigh In On Teekay

Several hedge funds and other institutional investors have recently made changes to their positions in TK. PharVision Advisers LLC acquired a new stake in Teekay during the 4th quarter worth approximately $75,000. Squarepoint Ops LLC acquired a new position in shares of Teekay in the 4th quarter worth approximately $415,000. Wexford Capital LP lifted its position in shares of Teekay by 180.3% in the 4th quarter. Wexford Capital LP now owns 161,722 shares of the shipping company’s stock worth $1,121,000 after purchasing an additional 104,032 shares during the period. Tidal Investments LLC acquired a new position in shares of Teekay in the 4th quarter worth approximately $227,000. Finally, State of Wyoming lifted its position in shares of Teekay by 60.5% in the 4th quarter. State of Wyoming now owns 39,306 shares of the shipping company’s stock worth $272,000 after purchasing an additional 14,809 shares during the period. 46.73% of the stock is owned by institutional investors.

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.