Teekay Co. (NYSE:TK) Short Interest Up 37.1% in December

Teekay Co. (NYSE:TK) was the target of a large growth in short interest in December. As of December 31st, there was short interest totalling 893,900 shares, a growth of 37.1% from the December 15th total of 652,100 shares. Based on an average daily volume of 945,800 shares, the days-to-cover ratio is currently 0.9 days. Currently, 1.5% of the company’s shares are sold short.

Teekay Price Performance

TK stock traded down $0.10 during trading on Friday, reaching $7.42. The company had a trading volume of 599,629 shares, compared to its average volume of 760,445. The business has a 50 day moving average of $7.13 and a 200 day moving average of $7.94. The company has a market cap of $680.99 million, a P/E ratio of 4.94 and a beta of 0.54. Teekay has a 52 week low of $5.98 and a 52 week high of $9.95.

Teekay Dividend Announcement

The company also recently announced a — dividend, which was paid on Wednesday, December 18th. Stockholders of record on Wednesday, December 4th were paid a $1.00 dividend. The ex-dividend date of this dividend was Wednesday, December 4th. Teekay’s payout ratio is presently 16.67%.

Institutional Investors Weigh In On Teekay

Several hedge funds have recently made changes to their positions in TK. Bank of New York Mellon Corp lifted its position in Teekay by 6.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 178,904 shares of the shipping company’s stock valued at $1,605,000 after acquiring an additional 11,476 shares during the period. American Century Companies Inc. lifted its holdings in shares of Teekay by 27.2% during the second quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock valued at $13,871,000 after purchasing an additional 331,002 shares during the last quarter. WINTON GROUP Ltd lifted its holdings in shares of Teekay by 36.3% during the second quarter. WINTON GROUP Ltd now owns 91,511 shares of the shipping company’s stock valued at $821,000 after purchasing an additional 24,357 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Teekay by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,527,077 shares of the shipping company’s stock worth $49,579,000 after purchasing an additional 176,641 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Teekay by 19.2% in the 2nd quarter. Renaissance Technologies LLC now owns 4,026,075 shares of the shipping company’s stock worth $36,114,000 after buying an additional 649,900 shares during the last quarter. 46.73% of the stock is currently 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.