Columbia Partners L L C Investment Management reduced its position in Teekay Tankers Ltd. (NYSE:TNK) by 90.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 140,225 shares of the shipping company’s stock after selling 1,401,094 shares during the period. Columbia Partners L L C Investment Management owned approximately 0.09% of Teekay Tankers worth $287,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the company. Tudor Investment Corp Et Al bought a new position in Teekay Tankers during the fourth quarter worth $105,000. Two Sigma Securities LLC boosted its position in Teekay Tankers by 243.5% in the first quarter. Two Sigma Securities LLC now owns 51,750 shares of the shipping company’s stock worth $106,000 after buying an additional 36,683 shares in the last quarter. Highbridge Capital Management LLC bought a new position in Teekay Tankers during the first quarter worth $113,000. American International Group Inc. boosted its position in Teekay Tankers by 7.0% in the first quarter. American International Group Inc. now owns 71,726 shares of the shipping company’s stock worth $147,000 after buying an additional 4,720 shares in the last quarter. Finally, Loews Corp boosted its position in Teekay Tankers by 9.7% in the first quarter. Loews Corp now owns 74,790 shares of the shipping company’s stock worth $153,000 after buying an additional 6,600 shares in the last quarter. Hedge funds and other institutional investors own 42.03% of the company’s stock.
Teekay Tankers Ltd. (NYSE:TNK) opened at 1.67 on Tuesday. The stock’s 50 day moving average price is $1.86 and its 200 day moving average price is $2.15. Teekay Tankers Ltd. has a 1-year low of $1.65 and a 1-year high of $3.25. The stock has a market capitalization of $276.22 million, a PE ratio of 9.88 and a beta of 2.24.
Teekay Tankers (NYSE:TNK) last issued its quarterly earnings results on Thursday, May 18th. The shipping company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $0.02. The business had revenue of $125.10 million during the quarter, compared to the consensus estimate of $95.97 million. Teekay Tankers had a return on equity of 4.58% and a net margin of 5.48%. The business’s quarterly revenue was down 24.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. Equities research analysts forecast that Teekay Tankers Ltd. will post ($0.03) earnings per share for the current year.
A number of equities analysts have weighed in on the company. Bank of America Corporation restated an “underperform” rating and issued a $1.80 price target (down previously from $2.25) on shares of Teekay Tankers in a report on Wednesday, May 17th. Zacks Investment Research upgraded Teekay Tankers from a “sell” rating to a “hold” rating in a report on Wednesday, June 21st. UBS AG restated a “sell” rating and issued a $1.50 price target (down previously from $2.00) on shares of Teekay Tankers in a report on Friday, June 9th. Finally, ValuEngine cut Teekay Tankers from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $2.37.
About Teekay Tankers
Teekay Tankers Ltd. is an international provider of marine transportation to the oil industries. The Company’s business is to own crude oil and product tankers. The Company has two segments: conventional tanker and ship-to-ship transfer. Its conventional tanker segment consists of the operation of all of its tankers, including those employed on full service lightering contracts.
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