Mirae Asset Global Investments Co. Ltd. Purchases 8,668 Shares of Teekay Tankers Ltd. $TNK

Mirae Asset Global Investments Co. Ltd. purchased a new stake in Teekay Tankers Ltd. (NYSE:TNK) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 8,668 shares of the shipping company’s stock, valued at approximately $841,000.

A number of other institutional investors and hedge funds also recently modified their holdings of TNK. Baron Wealth Management LLC boosted its stake in shares of Teekay Tankers by 4.5% during the 2nd quarter. Baron Wealth Management LLC now owns 4,094 shares of the shipping company’s stock worth $266,000 after acquiring an additional 178 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Teekay Tankers by 14.1% in the 3rd quarter. GAMMA Investing LLC now owns 1,518 shares of the shipping company’s stock worth $147,000 after acquiring an additional 188 shares during the last quarter. Unison Advisors LLC grew its holdings in shares of Teekay Tankers by 1.7% in the 3rd quarter. Unison Advisors LLC now owns 13,598 shares of the shipping company’s stock worth $1,320,000 after acquiring an additional 230 shares during the last quarter. Insight Wealth Partners LLC raised its position in shares of Teekay Tankers by 9.2% during the third quarter. Insight Wealth Partners LLC now owns 4,338 shares of the shipping company’s stock worth $421,000 after purchasing an additional 365 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Teekay Tankers during the second quarter worth $28,000. Institutional investors and hedge funds own 52.67% of the company’s stock.

Teekay Tankers Price Performance

Shares of TNK opened at $85.66 on Monday. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 5.05 and a beta of -0.05. Teekay Tankers Ltd. has a fifty-two week low of $50.94 and a fifty-two week high of $110.65. The business’s 50-day moving average is $97.21 and its 200-day moving average is $79.75.

Insider Buying and Selling

In related news, Director Heidi Locke Simon sold 741 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $90.00, for a total transaction of $66,690.00. Following the transaction, the director directly owned 4,000 shares of the company’s stock, valued at approximately $360,000. The trade was a 15.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rohit (Rk2) Kapoor sold 6,375 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $89.28, for a total transaction of $569,160.00. Following the transaction, the director directly owned 2,126 shares in the company, valued at $189,809.28. The trade was a 74.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 14,561 shares of company stock worth $1,380,350. 1.90% of the stock is owned by company insiders.

Analyst Ratings Changes

TNK has been the subject of several analyst reports. Weiss Ratings raised Teekay Tankers from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Wall Street Zen lowered Teekay Tankers from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 2nd. Evercore reissued an “outperform” rating and issued a $116.00 price target on shares of Teekay Tankers in a research note on Tuesday, October 27th. Finally, Zacks Research downgraded Teekay Tankers from a “strong-buy” rating to a “hold” rating in a report on Monday, July 20th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Teekay Tankers presently has a consensus rating of “Hold” and an average target price of $95.50.

Teekay Tankers Company Profile

Teekay Tankers Ltd. is an international marine transportation company that owns and operates tankers carrying crude oil and refined petroleum products. Its fleet includes crude-oil vessels such as Aframax and Suezmax tankers, as well as product carriers.

The company serves customers in the global energy industry, including oil companies and commodity traders. Its vessels transport petroleum by sea on routes around the world, with employment through a mix of spot voyages and longer-term charter arrangements.

Teekay Tankers was established in 2007 and was formerly part of Teekay Corporation.