Teekay Tankers Ltd. (NYSE:TNK) Shares Bought by Monarch Partners Asset Management LLC

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Monarch Partners Asset Management LLC increased its holdings in Teekay Tankers Ltd. (NYSE:TNK) by 13.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 295,450 shares of the shipping company’s stock after buying an additional 35,020 shares during the quarter. Monarch Partners Asset Management LLC’s holdings in Teekay Tankers were worth $384,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TNK. Russell Investments Group Ltd. acquired a new stake in shares of Teekay Tankers during the 3rd quarter worth approximately $105,000. Chicago Equity Partners LLC grew its stake in shares of Teekay Tankers by 118.5% during the 3rd quarter. Chicago Equity Partners LLC now owns 310,712 shares of the shipping company’s stock worth $404,000 after purchasing an additional 168,479 shares during the period. FNY Investment Advisers LLC grew its stake in shares of Teekay Tankers by 38.5% during the 3rd quarter. FNY Investment Advisers LLC now owns 139,723 shares of the shipping company’s stock worth $181,000 after purchasing an additional 38,822 shares during the period. Rhumbline Advisers grew its stake in shares of Teekay Tankers by 10.0% during the 3rd quarter. Rhumbline Advisers now owns 296,862 shares of the shipping company’s stock worth $386,000 after purchasing an additional 27,053 shares during the period. Finally, CIBC Private Wealth Group LLC acquired a new stake in shares of Teekay Tankers during the 3rd quarter worth approximately $390,000. Institutional investors own 23.56% of the company’s stock.

TNK has been the topic of a number of analyst reports. Jefferies Financial Group raised shares of Teekay Tankers from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. ValuEngine cut shares of Teekay Tankers from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of Teekay Tankers from a “hold” rating to a “strong-buy” rating and set a $1.50 price objective on the stock in a research note on Friday, October 4th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Teekay Tankers currently has an average rating of “Hold” and a consensus target price of $1.17.

Shares of NYSE:TNK traded down $0.03 during midday trading on Friday, reaching $1.89. 2,481,285 shares of the company’s stock traded hands, compared to its average volume of 1,789,236. Teekay Tankers Ltd. has a 1 year low of $0.87 and a 1 year high of $2.32. The company has a market cap of $492.81 million, a P/E ratio of -9.45, a PEG ratio of 4.64 and a beta of 1.14. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.61 and a current ratio of 0.85. The company has a fifty day simple moving average of $1.80 and a two-hundred day simple moving average of $1.33.

Teekay Tankers Company Profile

Teekay Tankers Ltd. provides marine transportation services to oil industries in Bermuda and internationally. It operates through two segments, Conventional Tanker and Ship-to-ship Transfer (STS). The company offers voyage and time charter services; and offshore STS transfer services of commodities primarily crude oil and refined oil products, as well as liquid gases and various other products.

Further Reading: Market Indexes

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Institutional Ownership by Quarter for Teekay Tankers (NYSE:TNK)

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