Alps Advisors Inc. reduced its position in shares of Teekay Tankers Ltd. (NYSE:TNK) by 6.8% during the second quarter, Holdings Channel reports. The fund owned 100,136 shares of the company’s stock after selling 7,358 shares during the period. Alps Advisors Inc.’s holdings in Teekay Tankers were worth $298,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in TNK. UBS Group AG boosted its stake in Teekay Tankers by 32.4% in the first quarter. UBS Group AG now owns 707,125 shares of the company’s stock worth $2,595,000 after buying an additional 172,989 shares during the last quarter. A.R.T. Advisors LLC raised its position in shares of Teekay Tankers by 792.6% in the first quarter. A.R.T. Advisors LLC now owns 300,685 shares of the company’s stock worth $1,103,000 after buying an additional 267,000 shares during the period. Prudential Financial Inc. raised its position in shares of Teekay Tankers by 85.5% in the first quarter. Prudential Financial Inc. now owns 287,693 shares of the company’s stock worth $1,056,000 after buying an additional 132,600 shares during the period. HBK Investments L P raised its position in shares of Teekay Tankers by 1,509.0% in the first quarter. HBK Investments L P now owns 224,100 shares of the company’s stock worth $822,000 after buying an additional 210,172 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in shares of Teekay Tankers during the first quarter worth $762,000. 52.62% of the stock is owned by institutional investors.
Shares of Teekay Tankers Ltd. (NYSE:TNK) traded down 2.57% during trading on Thursday, hitting $2.65. The stock had a trading volume of 1,963,431 shares. The company has a market cap of $414.20 million, a PE ratio of 2.60 and a beta of 2.29. Teekay Tankers Ltd. has a 1-year low of $2.42 and a 1-year high of $8.53. The firm’s 50 day moving average is $2.61 and its 200 day moving average is $3.17.
Teekay Tankers (NYSE:TNK) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. Teekay Tankers had a return on equity of 18.71% and a net margin of 26.09%. The business had revenue of $139.62 million for the quarter, compared to the consensus estimate of $131.06 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. Teekay Tankers’s revenue for the quarter was up 25.4% on a year-over-year basis. Equities research analysts anticipate that Teekay Tankers Ltd. will post $0.81 EPS for the current fiscal year.
TNK has been the topic of a number of recent research reports. Zacks Investment Research lowered Teekay Tankers from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 11th. Clarkson Capital lowered Teekay Tankers from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $7.00 to $3.00 in a research note on Monday, October 3rd. Morgan Stanley reiterated an “equal weight” rating and set a $2.50 target price (down previously from $3.60) on shares of Teekay Tankers in a research note on Friday, August 26th. Vetr lowered Teekay Tankers from a “strong-buy” rating to a “buy” rating and set a $3.05 target price on the stock. in a research note on Thursday, October 6th. Finally, Danske reiterated a “sell” rating on shares of Teekay Tankers in a research note on Monday, August 8th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $6.18.
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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