Dauntless Investment Group LLC Acquires New Shares in Teekay Tankers Ltd. (NYSE:TNK)

Dauntless Investment Group LLC bought a new stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,840 shares of the shipping company's stock, valued at approximately $431,000. Teekay Tankers comprises approximately 0.5% of Dauntless Investment Group LLC's holdings, making the stock its 26th biggest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC lifted its stake in Teekay Tankers by 7.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,219 shares of the shipping company's stock worth $168,000 after purchasing an additional 286 shares during the last quarter. Kendall Capital Management grew its position in shares of Teekay Tankers by 3.3% in the 4th quarter. Kendall Capital Management now owns 17,965 shares of the shipping company's stock valued at $715,000 after buying an additional 580 shares during the last quarter. Sterling Capital Management LLC raised its stake in Teekay Tankers by 7.0% during the 4th quarter. Sterling Capital Management LLC now owns 10,555 shares of the shipping company's stock worth $420,000 after acquiring an additional 686 shares in the last quarter. MetLife Investment Management LLC lifted its position in Teekay Tankers by 5.9% in the fourth quarter. MetLife Investment Management LLC now owns 14,901 shares of the shipping company's stock valued at $593,000 after acquiring an additional 834 shares during the last quarter. Finally, R Squared Ltd acquired a new position in Teekay Tankers in the fourth quarter valued at $41,000. 52.67% of the stock is currently owned by institutional investors and hedge funds.

Teekay Tankers Price Performance

Shares of NYSE:TNK traded up $0.42 during trading on Tuesday, reaching $42.66. The company had a trading volume of 161,283 shares, compared to its average volume of 377,110. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $74.20. The stock's fifty day moving average price is $38.31 and its 200 day moving average price is $41.52. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 3.78 and a beta of -0.16.

Teekay Tankers (NYSE:TNK - Get Free Report) last announced its quarterly earnings data on Wednesday, February 19th. The shipping company reported $1.50 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.01. The company had revenue of $163.42 million during the quarter, compared to the consensus estimate of $158.26 million. Teekay Tankers had a net margin of 34.55% and a return on equity of 20.67%. On average, equities analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, March 3rd were paid a dividend of $0.25 per share. The ex-dividend date was Monday, March 3rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.34%. Teekay Tankers's dividend payout ratio (DPR) is presently 8.83%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Evercore ISI reduced their target price on Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group reiterated a "buy" rating and issued a $55.00 price objective on shares of Teekay Tankers in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Teekay Tankers presently has an average rating of "Moderate Buy" and a consensus target price of $50.67.

About Teekay Tankers

Teekay Tankers Ltd. provides crude oil and other marine transportation services to oil industries in Bermuda and internationally. The company offers voyage and time charter services; offshore ship-to-ship transfer services of commodities primarily crude oil and refined oil products; and tanker commercial and technical management services.