Mirae Asset Global Investments Co. Ltd. lessened its stake in Tsakos Energy Navigation Limited (NYSE:TNP - Free Report) by 18.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,249 shares of the shipping company's stock after selling 38,149 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.56% of Tsakos Energy Navigation worth $3,672,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of TNP. Citigroup Inc. acquired a new position in Tsakos Energy Navigation in the fourth quarter valued at about $32,000. Point72 Asset Management L.P. acquired a new position in Tsakos Energy Navigation in the fourth quarter valued at about $47,000. Royal Bank of Canada grew its position in Tsakos Energy Navigation by 100.9% in the third quarter. Royal Bank of Canada now owns 4,182 shares of the shipping company's stock valued at $64,000 after acquiring an additional 2,100 shares during the last quarter. Altshuler Shaham Ltd grew its position in Tsakos Energy Navigation by 33.3% in the fourth quarter. Altshuler Shaham Ltd now owns 4,000 shares of the shipping company's stock valued at $75,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in Tsakos Energy Navigation in the third quarter valued at about $91,000. Institutional investors and hedge funds own 19.24% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on TNP. StockNews.com upgraded Tsakos Energy Navigation from a "hold" rating to a "buy" rating in a research report on Saturday. Jefferies Financial Group reiterated a "buy" rating and issued a $30.00 target price on shares of Tsakos Energy Navigation in a research report on Wednesday, March 27th.
Get Our Latest Research Report on Tsakos Energy Navigation
Tsakos Energy Navigation Trading Down 0.1 %
Tsakos Energy Navigation stock traded down $0.03 during midday trading on Wednesday, reaching $25.29. The company's stock had a trading volume of 200,871 shares, compared to its average volume of 276,817. The stock has a market cap of $746.21 million, a PE ratio of 2.80 and a beta of -0.14. The business has a 50-day moving average price of $24.77 and a 200-day moving average price of $23.04. Tsakos Energy Navigation Limited has a 52 week low of $15.50 and a 52 week high of $27.20.
Tsakos Energy Navigation Profile
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Free Report)
Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. It also operates a fleet of double-hull vessels, comprising of conventional tankers, LNG carriers, and suezmax DP2 shuttle tankers.
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