Cedar Capital LLC decreased its holdings in shares of Teekay Co. (NYSE:TK) by 15.6% during the 1st quarter, HoldingsChannel reports. The firm owned 305,952 shares of the shipping company’s stock after selling 56,354 shares during the quarter. Cedar Capital LLC’s holdings in Teekay were worth $1,199,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Teekay by 83.3% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 11,000 shares of the shipping company’s stock worth $37,000 after buying an additional 5,000 shares during the period. Norges Bank bought a new stake in shares of Teekay in the fourth quarter worth about $38,000. Wiley BROS. Aintree Capital LLC bought a new stake in shares of Teekay in the fourth quarter worth about $43,000. BNP Paribas Arbitrage SA grew its stake in shares of Teekay by 478.5% in the first quarter. BNP Paribas Arbitrage SA now owns 14,301 shares of the shipping company’s stock worth $56,000 after purchasing an additional 11,829 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Teekay in the first quarter worth about $91,000. Institutional investors own 22.57% of the company’s stock.
Teekay stock opened at $4.29 on Thursday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 1.62. The company has a market cap of $404.75 million, a price-to-earnings ratio of -8.09 and a beta of 1.43. Teekay Co. has a fifty-two week low of $2.92 and a fifty-two week high of $9.05.
Teekay (NYSE:TK) last posted its quarterly earnings data on Thursday, February 21st. The shipping company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.07. The business had revenue of $374.30 million for the quarter. Teekay had a negative return on equity of 1.82% and a negative net margin of 4.64%. The business’s revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.11) earnings per share. As a group, analysts forecast that Teekay Co. will post 0.35 earnings per share for the current year.
Several analysts recently issued reports on the company. Zacks Investment Research raised Teekay from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research note on Thursday, March 21st. ValuEngine cut Teekay from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $6.81.
Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers; floating production, storage, and offloading units; floating storage and offloading units; HiLoad dynamic positioning units; long-distance towing and offshore installation vessels; and conventional tankers.
Recommended Story: Index Funds
Want to see what other hedge funds are holding TK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Teekay Co. (NYSE:TK).
Receive News & Ratings for Teekay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Teekay and related companies with MarketBeat.com's FREE daily email newsletter.