Rudolph Krediet Sells 63,042 Shares of Teekay (NYSE:TK) Stock

Teekay Corporation Ltd. (NYSE:TK) Director Rudolph Krediet sold 63,042 shares of the stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $11.80, for a total transaction of $743,895.60. Following the transaction, the director owned 35,167 shares of the company’s stock, valued at approximately $414,970.60. This represents a 64.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Teekay Trading Down 3.1%

Shares of NYSE TK traded down $0.38 during mid-day trading on Wednesday, hitting $11.74. The company had a trading volume of 534,125 shares, compared to its average volume of 588,333. The firm has a 50-day simple moving average of $12.70 and a two-hundred day simple moving average of $11.32. The company has a market capitalization of $1.02 billion, a PE ratio of 7.77 and a beta of 0.19. Teekay Corporation Ltd. has a one year low of $7.11 and a one year high of $14.38.

Teekay (NYSE:TK) last released its earnings results on Wednesday, May 13th. The shipping company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.44. Teekay had a return on equity of 6.36% and a net margin of 13.03%.The business had revenue of $285.82 million for the quarter, compared to analyst estimates of $285.82 million.

Teekay Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were paid a dividend of $1.00 per share. The ex-dividend date was Tuesday, May 26th.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Wall Street Zen downgraded Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings lowered shares of Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Teekay currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Teekay

A number of institutional investors have recently bought and sold shares of TK. Mercuria Capital Strategies LLC acquired a new stake in Teekay during the 4th quarter valued at $11,091,000. Allspring Global Investments Holdings LLC raised its position in shares of Teekay by 58.7% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,783,869 shares of the shipping company’s stock valued at $33,796,000 after purchasing an additional 1,029,977 shares during the period. Millennium Management LLC raised its position in shares of Teekay by 153.8% in the first quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock valued at $7,807,000 after purchasing an additional 720,093 shares during the period. O Shaughnessy Asset Management LLC bought a new position in shares of Teekay in the fourth quarter valued at about $4,066,000. Finally, HRT Financial LP acquired a new stake in shares of Teekay during the 4th quarter worth about $2,996,000. Institutional investors and hedge funds own 46.73% of the company’s stock.

Teekay Company Profile

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.