Guggenheim Capital LLC Sells 526,221 Shares of Teekay Tankers Ltd. (TNK)

Guggenheim Capital LLC decreased its position in Teekay Tankers Ltd. (NYSE:TNK) by 27.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,406,667 shares of the shipping company’s stock after selling 526,221 shares during the quarter. Guggenheim Capital LLC’s holdings in Teekay Tankers were worth $1,969,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. American International Group Inc. lifted its position in Teekay Tankers by 67.6% in the 4th quarter. American International Group Inc. now owns 137,048 shares of the shipping company’s stock worth $192,000 after buying an additional 55,258 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Teekay Tankers by 47.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 159,954 shares of the shipping company’s stock worth $224,000 after buying an additional 51,244 shares during the last quarter. Vanguard Group Inc. lifted its position in Teekay Tankers by 6.6% in the 2nd quarter. Vanguard Group Inc. now owns 287,429 shares of the shipping company’s stock worth $540,000 after buying an additional 17,907 shares during the last quarter. Wells Fargo & Company MN lifted its position in Teekay Tankers by 41.5% in the 3rd quarter. Wells Fargo & Company MN now owns 336,234 shares of the shipping company’s stock worth $545,000 after buying an additional 98,673 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its position in Teekay Tankers by 92.8% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 349,000 shares of the shipping company’s stock worth $489,000 after buying an additional 168,000 shares during the last quarter. Institutional investors own 47.65% of the company’s stock.

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Shares of TNK stock opened at $1.13 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.75 and a debt-to-equity ratio of 0.92. Teekay Tankers Ltd. has a fifty-two week low of $1.08 and a fifty-two week high of $2.20. The company has a market capitalization of $206.08, a price-to-earnings ratio of -10.27 and a beta of 2.01.

Teekay Tankers (NYSE:TNK) last announced its quarterly earnings data on Thursday, February 22nd. The shipping company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. Teekay Tankers had a negative return on equity of 2.16% and a negative net margin of 13.78%. The firm had revenue of $105.20 million during the quarter, compared to the consensus estimate of $87.10 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The business’s revenue was down 14.6% on a year-over-year basis. equities analysts predict that Teekay Tankers Ltd. will post -0.18 EPS for the current year.

A number of research firms recently weighed in on TNK. Zacks Investment Research upgraded Teekay Tankers from a “sell” rating to a “hold” rating in a research report on Wednesday, March 7th. DNB Markets upgraded Teekay Tankers from a “hold” rating to a “buy” rating in a research report on Tuesday, March 6th. UBS upgraded Teekay Tankers from a “sell” rating to a “neutral” rating and dropped their target price for the stock from $1.26 to $1.00 in a research report on Monday, February 26th. Morgan Stanley dropped their target price on Teekay Tankers from $2.00 to $1.30 and set an “equal weight” rating for the company in a research report on Monday, February 12th. Finally, ValuEngine downgraded Teekay Tankers from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $1.72.

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Teekay Tankers Company Profile

Teekay Tankers Ltd. engages in the marine transportation of crude oil and refined petroleum products through the operation of its oil and product tankers worldwide. The company also provides ship-to-ship transfer services, including lightering and lightering support, consultancy, and LNG terminal management services.

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

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