GAMMA Investing LLC Has $750,000 Position in Teekay Tankers Ltd. (NYSE:TNK)

GAMMA Investing LLC boosted its stake in Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 3,882.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,594 shares of the shipping company's stock after buying an additional 19,102 shares during the quarter. GAMMA Investing LLC owned approximately 0.06% of Teekay Tankers worth $750,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of TNK. Franklin Resources Inc. bought a new stake in Teekay Tankers in the fourth quarter worth $5,131,000. Proficio Capital Partners LLC acquired a new stake in Teekay Tankers in the 4th quarter worth $629,000. Dynamic Technology Lab Private Ltd acquired a new stake in Teekay Tankers in the 4th quarter worth $310,000. Ameriprise Financial Inc. grew its position in Teekay Tankers by 52.3% in the 4th quarter. Ameriprise Financial Inc. now owns 165,228 shares of the shipping company's stock worth $6,574,000 after purchasing an additional 56,737 shares during the last quarter. Finally, Denali Advisors LLC acquired a new stake in Teekay Tankers in the 4th quarter worth $2,204,000. Institutional investors and hedge funds own 52.67% of the company's stock.

Teekay Tankers Stock Down 2.9%

NYSE TNK traded down $1.37 during midday trading on Friday, hitting $45.30. The company had a trading volume of 909,391 shares, compared to its average volume of 413,535. The firm has a fifty day simple moving average of $43.84 and a two-hundred day simple moving average of $41.15. Teekay Tankers Ltd. has a fifty-two week low of $33.35 and a fifty-two week high of $72.30. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 4.86 and a beta of -0.03.

Teekay Tankers (NYSE:TNK - Get Free Report) last issued its earnings results on Wednesday, May 7th. The shipping company reported $1.21 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.32). Teekay Tankers had a net margin of 31.45% and a return on equity of 15.05%. The business had revenue of $115.64 million for the quarter, compared to analyst estimates of $146.31 million. During the same quarter last year, the firm posted $4.23 earnings per share. Teekay Tankers's revenue was down 37.1% on a year-over-year basis. As a group, equities analysts predict that Teekay Tankers Ltd. will post 7.13 earnings per share for the current year.

Teekay Tankers Increases Dividend

The firm also recently announced a -- dividend, which was paid on Friday, May 30th. Stockholders of record on Monday, May 19th were given a dividend of $1.00 per share. This is a positive change from Teekay Tankers's previous -- dividend of $0.25. This represents a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, May 19th. Teekay Tankers's payout ratio is 10.72%.

Analyst Ratings Changes

Several analysts have issued reports on TNK shares. Jefferies Financial Group restated a "buy" rating and issued a $55.00 price target on shares of Teekay Tankers in a research report on Thursday, May 8th. Evercore ISI decreased their price target on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Teekay Tankers currently has a consensus 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.