Mirae Asset Global Investments Co. Ltd. Makes New Investment in Teekay Tankers Ltd. $TNK

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Teekay Tankers Ltd. (NYSE:TNK) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 8,668 shares of the shipping company’s stock, valued at approximately $841,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Mizuho Markets Americas LLC bought a new stake in Teekay Tankers in the first quarter valued at $18,330,000. Arrowstreet Capital Limited Partnership grew its position in shares of Teekay Tankers by 367.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 217,493 shares of the shipping company’s stock worth $15,947,000 after acquiring an additional 170,940 shares during the last quarter. NEOS Investment Management LLC grew its position in shares of Teekay Tankers by 41.4% during the second quarter. NEOS Investment Management LLC now owns 255,652 shares of the shipping company’s stock worth $16,584,000 after acquiring an additional 74,894 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Teekay Tankers by 3.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,903,749 shares of the shipping company’s stock worth $139,579,000 after acquiring an additional 68,437 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Teekay Tankers by 155.7% in the 1st quarter. Sei Investments Co. now owns 106,160 shares of the shipping company’s stock worth $7,784,000 after acquiring an additional 64,645 shares during the period. 52.67% of the stock is owned by institutional investors and hedge funds.

Teekay Tankers Stock Down 0.1%

Shares of TNK stock opened at $85.66 on Monday. The stock has a 50-day simple moving average of $97.21 and a 200 day simple moving average of $79.75. Teekay Tankers Ltd. has a fifty-two week low of $50.94 and a fifty-two week high of $110.65. The stock has a market capitalization of $2.96 billion, a P/E ratio of 5.05 and a beta of -0.05.

Insiders Place Their Bets

In other news, Director Rohit (Rk2) Kapoor sold 6,375 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $89.28, for a total transaction of $569,160.00. Following the completion of the transaction, the director owned 2,126 shares in the company, valued at approximately $189,809.28. This trade represents a 74.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Heidi Locke Simon sold 741 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $90.00, for a total transaction of $66,690.00. Following the transaction, the director owned 4,000 shares of the company’s stock, valued at approximately $360,000. This trade represents a 15.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 14,561 shares of company stock worth $1,380,350. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently weighed in on TNK. Evercore reiterated an “outperform” rating and issued a $116.00 price objective on shares of Teekay Tankers in a research report on Tuesday, October 27th. Weiss Ratings raised shares of Teekay Tankers from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Zacks Research cut shares of Teekay Tankers from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 20th. Finally, Wall Street Zen lowered shares of Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 2nd. Two analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $95.50.

Teekay Tankers Profile

Teekay Tankers Ltd. is an international marine transportation company that owns and operates tankers carrying crude oil and refined petroleum products. Its fleet includes crude-oil vessels such as Aframax and Suezmax tankers, as well as product carriers.

The company serves customers in the global energy industry, including oil companies and commodity traders. Its vessels transport petroleum by sea on routes around the world, with employment through a mix of spot voyages and longer-term charter arrangements.

Teekay Tankers was established in 2007 and was formerly part of Teekay Corporation.