Teekay Co. (NYSE:TK) Short Interest Down 20.1% in September

Teekay Co. (NYSE:TK) was the recipient of a large decline in short interest during the month of 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. Currently, 1.3% of the company’s stock are sold short. Based on an average trading volume of 569,300 shares, the days-to-cover ratio is presently 1.3 days.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Teekay

A number of hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in Teekay by 10.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,814 shares of the shipping company’s stock valued at $130,000 after acquiring an additional 1,747 shares during the period. CWM LLC increased its stake in shares of Teekay by 135.2% in the second quarter. CWM LLC now owns 3,391 shares of the shipping company’s stock worth $30,000 after purchasing an additional 1,949 shares in the last quarter. Diversified Trust Co raised its position in shares of Teekay by 16.4% in the second quarter. Diversified Trust Co now owns 14,211 shares of the shipping company’s stock valued at $127,000 after purchasing an additional 2,004 shares during the period. DGS Capital Management LLC lifted its stake in shares of Teekay by 24.6% during the 1st quarter. DGS Capital Management LLC now owns 14,974 shares of the shipping company’s stock valued at $109,000 after buying an additional 2,958 shares in the last quarter. Finally, Quarry LP boosted its holdings in Teekay by 90.6% in the 2nd quarter. Quarry LP now owns 8,415 shares of the shipping company’s stock worth $75,000 after buying an additional 4,000 shares during the period. Institutional investors own 46.73% of the company’s stock.

Teekay Price Performance

Shares of Teekay stock opened at $9.39 on Friday. The firm has a market cap of $854.02 million, a PE ratio of 5.80 and a beta of 0.59. Teekay has a 1 year low of $5.70 and a 1 year high of $9.95. The stock has a fifty day moving average price of $8.23 and a 200-day moving average price of $8.25.

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

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.