Short Interest in Teekay Co. (NYSE:TK) Drops By 26.6%

Teekay Co. (NYSE:TK) was the target of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 947,300 shares, a decline of 26.6% from the February 28th total of 1,290,000 shares. Based on an average daily trading volume, of 723,300 shares, the short-interest ratio is currently 1.3 days. Currently, 1.9% of the company’s stock are short sold.

Institutional Trading of Teekay

Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in Teekay by 108.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 705,374 shares of the shipping company’s stock worth $6,489,000 after buying an additional 367,527 shares during the period. Nisa Investment Advisors LLC acquired a new position in shares of Teekay in the fourth quarter valued at about $295,000. MML Investors Services LLC bought a new position in Teekay during the third quarter worth about $100,000. New York State Common Retirement Fund raised its stake in Teekay by 53.4% in the 4th quarter. New York State Common Retirement Fund now owns 8,623 shares of the shipping company’s stock worth $60,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Teekay by 267.9% in the 3rd quarter. Barclays PLC now owns 80,046 shares of the shipping company’s stock valued at $736,000 after purchasing an additional 58,290 shares during the period. 46.73% of the stock is owned by institutional investors and hedge funds.

Teekay Trading Up 0.2 %

Shares of TK traded up $0.02 during mid-day trading on Tuesday, reaching $6.59. The company’s stock had a trading volume of 439,447 shares, compared to its average volume of 711,443. The business has a 50-day simple moving average of $6.81 and a two-hundred day simple moving average of $7.46. Teekay has a 1-year low of $5.98 and a 1-year high of $9.95. The stock has a market cap of $604.74 million, a P/E ratio of 4.67 and a beta of 0.56.

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

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.