Teekay (NYSE:TK) Director Sells 18,119 Shares

Teekay Corporation Ltd. (NYSE:TK) Director Simon Heidi Locke sold 18,119 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $12.37, for a total transaction of $224,132.03. Following the sale, the director owned 47,582 shares of the company’s stock, valued at approximately $588,589.34. This represents a 27.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Teekay Stock Up 3.7%

Shares of Teekay stock traded up $0.44 during trading hours on Monday, hitting $12.35. The company’s stock had a trading volume of 581,678 shares, compared to its average volume of 589,187. The business has a fifty day moving average of $12.65 and a 200 day moving average of $11.37. Teekay Corporation Ltd. has a 1-year low of $7.11 and a 1-year high of $14.38. The company has a market capitalization of $1.07 billion, a PE ratio of 8.18 and a beta of 0.19.

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

Teekay Announces Dividend

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

Institutional Investors Weigh In On Teekay

Hedge funds have recently bought and sold shares of the business. Transamerica Financial Advisors LLC raised its position in shares of Teekay by 250.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock valued at $40,000 after purchasing an additional 3,130 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Teekay in the fourth quarter worth $43,000. Cubist Systematic Strategies LLC bought a new stake in shares of Teekay in the first quarter worth $48,000. CWM LLC raised its holdings in Teekay by 34.2% in the fourth quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 1,449 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Teekay by 194.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after acquiring an additional 5,022 shares during the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Wall Street Zen lowered Teekay from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings cut Teekay from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Teekay has a consensus rating of “Hold”.

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.