Teekay Co. (NYSE:TK) Short Interest Down 14.3% in August

Teekay Co. (NYSE:TK) was the recipient of a significant decline in short interest in August. As of August 31st, there was short interest totalling 6,660,700 shares, a decline of 14.3% from the July 31st total of 7,771,000 shares. Approximately 9.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 756,900 shares, the days-to-cover ratio is presently 8.8 days.

TK has been the topic of a number of analyst reports. Zacks Investment Research downgraded Teekay from a “buy” rating to a “hold” rating in a research note on Tuesday, May 21st. ValuEngine upgraded Teekay from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Finally, Wells Fargo & Co set a $4.00 price target on Teekay and gave the company a “hold” rating in a research note on Friday, May 31st.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. National Asset Management Inc. raised its holdings in shares of Teekay by 34.2% in the second quarter. National Asset Management Inc. now owns 17,917 shares of the shipping company’s stock worth $70,000 after acquiring an additional 4,567 shares during the last quarter. Plancorp LLC raised its holdings in shares of Teekay by 26.4% in the second quarter. Plancorp LLC now owns 28,621 shares of the shipping company’s stock worth $98,000 after acquiring an additional 5,975 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Teekay by 5.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 142,868 shares of the shipping company’s stock worth $492,000 after acquiring an additional 7,868 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Teekay in the second quarter worth $29,000. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Teekay by 478.5% in the first quarter. BNP Paribas Arbitrage SA now owns 14,301 shares of the shipping company’s stock worth $56,000 after acquiring an additional 11,829 shares during the last quarter. Institutional investors own 19.30% of the company’s stock.



TK traded up $0.04 during trading on Friday, reaching $4.46. 416,300 shares of the stock were exchanged, compared to its average volume of 668,932. The business’s 50 day moving average price is $3.82 and its two-hundred day moving average price is $3.88. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.55. Teekay has a 1 year low of $2.82 and a 1 year high of $7.49.

Teekay (NYSE:TK) last posted its earnings results on Thursday, August 1st. The shipping company reported ($0.13) EPS for the quarter. The firm had revenue of $358.99 million for the quarter. Teekay had a negative return on equity of 1.42% and a negative net margin of 8.34%.

About Teekay

Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers; floating production, storage, and offloading units; floating storage and offloading units; HiLoad dynamic positioning units; long-distance towing and offshore installation vessels; and conventional tankers.

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