Acadian Asset Management LLC Has $4.88 Million Position in Teekay Tankers Ltd. $TNK

Key Points

• Acadian Asset Management LLC sold 297,365 shares of Teekay Tankers, reducing its stake by 70% in the first quarter, leaving it with 127,539 shares valued at approximately $4.88 million.
• Teekay Tankers reported earnings per share of $1.41 for the latest quarter, which was below the consensus estimate of $1.59, while revenue fell short of expectations at $154.23 million.
• The company has a market capitalization of $1.79 billion and a PE ratio of 6.48, with a current consensus rating of "Moderate Buy" from analysts.

Acadian Asset Management LLC lessened its holdings in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 70.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 127,539 shares of the shipping company's stock after selling 297,365 shares during the quarter. Acadian Asset Management LLC owned 0.37% of Teekay Tankers worth $4,877,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Empowered Funds LLC boosted its position in shares of Teekay Tankers by 1.8% in the first quarter. Empowered Funds LLC now owns 185,374 shares of the shipping company's stock valued at $7,094,000 after acquiring an additional 3,213 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in Teekay Tankers by 15.8% in the first quarter. Dynamic Technology Lab Private Ltd now owns 9,030 shares of the shipping company's stock valued at $346,000 after purchasing an additional 1,234 shares in the last quarter. Millennium Management LLC raised its stake in Teekay Tankers by 24.9% in the first quarter. Millennium Management LLC now owns 254,641 shares of the shipping company's stock valued at $9,745,000 after purchasing an additional 50,815 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Teekay Tankers by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,263 shares of the shipping company's stock valued at $546,000 after purchasing an additional 610 shares in the last quarter. Finally, Encompass Capital Advisors LLC acquired a new position in Teekay Tankers in the first quarter valued at about $17,210,000. Institutional investors own 52.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TNK. Jefferies Financial Group reaffirmed a "buy" rating and issued a $55.00 price target on shares of Teekay Tankers in a research note on Thursday, July 31st. Zacks Research raised Teekay Tankers from a "strong sell" rating to a "hold" rating in a research note on Monday, September 8th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $50.67.

Teekay Tankers Stock Down 1.1%

Shares of TNK stock traded down $0.63 on Thursday, reaching $54.73. The company had a trading volume of 456,377 shares, compared to its average volume of 591,095. The stock has a market capitalization of $1.88 billion and a PE ratio of 6.80. Teekay Tankers Ltd. has a one year low of $33.35 and a one year high of $62.45. The business's 50-day moving average is $47.14 and its 200 day moving average is $43.61.

Teekay Tankers (NYSE:TNK - Get Free Report) last posted its earnings results on Wednesday, July 30th. The shipping company reported $1.41 EPS for the quarter, missing analysts' consensus estimates of $1.59 by ($0.18). The company had revenue of $154.23 million during the quarter, compared to the consensus estimate of $162.67 million. Teekay Tankers had a return on equity of 11.48% and a net margin of 28.94%.During the same period last year, the company posted $3.11 EPS. On average, sell-side analysts forecast that Teekay Tankers Ltd. will post 7.13 earnings per share for the current fiscal year.

Teekay Tankers Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Monday, August 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. Teekay Tankers's dividend payout ratio is 12.42%.

Teekay Tankers Company Profile

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.