Teekay Tankers Ltd. (NYSE:TNK) Shares Sold by Man Group plc

Man Group plc cut its stake in shares of Teekay Tankers Ltd. (NYSE:TNK - Free Report) by 60.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 94,272 shares of the shipping company's stock after selling 141,928 shares during the period. Man Group plc owned about 0.27% of Teekay Tankers worth $3,751,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC lifted its position 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 valued at $168,000 after purchasing an additional 286 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Teekay Tankers by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,653 shares of the shipping company's stock worth $543,000 after purchasing an additional 494 shares in the last quarter. Kendall Capital Management raised its position in shares of Teekay Tankers by 3.3% during the 4th quarter. Kendall Capital Management now owns 17,965 shares of the shipping company's stock valued at $715,000 after purchasing an additional 580 shares during the period. Sterling Capital Management LLC lifted its stake in shares of Teekay Tankers by 7.0% during the 4th quarter. Sterling Capital Management LLC now owns 10,555 shares of the shipping company's stock valued at $420,000 after buying an additional 686 shares in the last quarter. Finally, Ellevest Inc. lifted its stake in shares of Teekay Tankers by 14.4% during the 4th quarter. Ellevest Inc. now owns 5,704 shares of the shipping company's stock valued at $227,000 after buying an additional 720 shares in the last quarter. Institutional investors own 52.67% of the company's stock.

Teekay Tankers Stock Performance

TNK traded up $1.24 during trading on Friday, hitting $44.54. The stock had a trading volume of 278,725 shares, compared to its average volume of 397,452. Teekay Tankers Ltd. has a twelve month low of $33.35 and a twelve month high of $74.20. The stock has a 50 day simple moving average of $40.81 and a two-hundred day simple moving average of $40.84. The company has a market capitalization of $1.53 billion, a PE ratio of 3.93 and a beta of -0.10.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.53 by ($0.32). The firm had revenue of $115.64 million during the quarter, compared to analysts' expectations of $146.31 million. Teekay Tankers had a return on equity of 20.67% and a net margin of 34.55%. The business's revenue was down 37.1% on a year-over-year basis. During the same quarter last year, the business earned $4.23 EPS. On average, equities research analysts anticipate that Teekay Tankers Ltd. will post 7.13 EPS for the current year.

Teekay Tankers Increases Dividend

The firm also recently disclosed a -- dividend, which will be paid on Friday, May 30th. Stockholders of record on Monday, May 19th will be issued a $1.00 dividend. This is an increase from Teekay Tankers's previous -- dividend of $0.25. This represents a dividend yield of 2.3%. The ex-dividend date is Monday, May 19th. Teekay Tankers's dividend payout ratio is 10.72%.

Wall Street Analysts Forecast Growth

TNK has been the subject of several research analyst reports. Evercore ISI cut their target price on shares of Teekay Tankers from $53.00 to $51.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Jefferies Financial Group restated a "buy" rating and set a $55.00 price objective on shares of Teekay Tankers in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Teekay Tankers presently has an average rating of "Moderate Buy" and a consensus target price of $50.67.

Teekay Tankers 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.