Teekay (NYSE:TK) Reaches New 52-Week Low – Time to Sell?

Teekay Co. (NYSE:TK) hit a new 52-week low on Monday . The stock traded as low as $5.67 and last traded at $5.80, with a volume of 1558204 shares trading hands. The stock had previously closed at $6.24.

Teekay Trading Up 7.4 %

The stock has a market capitalization of $576.91 million, a P/E ratio of 4.46 and a beta of 0.47. The business has a fifty day simple moving average of $6.76 and a 200 day simple moving average of $7.39.

Teekay (NYSE:TK) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.19 EPS for the quarter. Teekay had a return on equity of 5.67% and a net margin of 10.96%. The company had revenue of $161.63 million during the quarter.

Hedge Funds Weigh In On Teekay

A number of hedge funds and other institutional investors have recently made changes to their positions in TK. JPMorgan Chase & Co. raised its position in Teekay by 108.8% in the third quarter. JPMorgan Chase & Co. now owns 705,374 shares of the shipping company’s stock worth $6,489,000 after acquiring an additional 367,527 shares during the period. Nisa Investment Advisors LLC purchased a new stake in Teekay in the 4th quarter worth about $295,000. MML Investors Services LLC bought a new stake in Teekay in the 3rd quarter valued at about $100,000. New York State Common Retirement Fund lifted its holdings in Teekay by 53.4% during the fourth quarter. New York State Common Retirement Fund now owns 8,623 shares of the shipping company’s stock valued at $60,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Teekay by 7.6% during the fourth quarter. Principal Financial Group Inc. now owns 30,012 shares of the shipping company’s stock worth $208,000 after purchasing an additional 2,109 shares during the period. 46.73% of the stock is owned by hedge funds and other institutional investors.

About Teekay

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.