Insider Selling: Teekay (NYSE:TK) Director Sells 11,585 Shares of Stock

Teekay Corporation Ltd. (NYSE:TK) Director Heidi Simon sold 11,585 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $14.08, for a total transaction of $163,116.80. Following the completion of the sale, the director owned 46,001 shares in the company, valued at approximately $647,694.08. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Simon Heidi Locke also recently made the following trade(s):

• On Friday, August 21st, Heidi Simon sold 1,000 shares of Teekay stock. The shares were sold at an average price of $13.64, for a total transaction of $13,640.00.
• On Thursday, August 20th, Heidi Simon sold 485 shares of Teekay stock. The stock was sold at an average price of $13.24, for a total transaction of $6,421.40.
• On Wednesday, August 19th, Heidi Simon sold 96 shares of Teekay stock. The shares were sold at an average price of $13.19, for a total transaction of $1,266.24.
• On Monday, June 22nd, Heidi Simon sold 18,119 shares of Teekay stock. The shares were sold at an average price of $12.37, for a total transaction of $224,132.03.

Teekay Stock Up 2.0%

Shares of NYSE TK traded up $0.28 during midday trading on Friday, reaching $14.38. 626,945 shares of the company were exchanged, compared to its average volume of 580,060. The stock’s 50-day moving average price is $11.95 and its 200-day moving average price is $12.19. The stock has a market cap of $1.25 billion, a P/E ratio of 6.91 and a beta of 0.25. Teekay Corporation Ltd. has a one year low of $7.80 and a one year high of $14.39.

Teekay (NYSE:TK) last announced its quarterly earnings results on Friday, July 31st. The shipping company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.68. Teekay had a return on equity of 7.91% and a net margin of 15.78%.During the same period in the previous year, the business posted $0.22 earnings per share.

Institutional Trading of Teekay

Several institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Teekay by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock worth $213,000 after purchasing an additional 1,404 shares during the period. Diversified Trust Co raised its holdings in shares of Teekay by 8.9% during the first quarter. Diversified Trust Co now owns 28,128 shares of the shipping company’s stock valued at $343,000 after purchasing an additional 2,306 shares during the period. Empowered Funds LLC raised its stake in Teekay by 0.5% during the 4th quarter. Empowered Funds LLC now owns 473,886 shares of the shipping company’s stock worth $4,279,000 after buying an additional 2,382 shares during the period. Savant Capital LLC raised its stake in Teekay by 22.2% during the 4th quarter. Savant Capital LLC now owns 13,355 shares of the shipping company’s stock worth $121,000 after buying an additional 2,423 shares during the period. Finally, Verition Fund Management LLC boosted its holdings in Teekay by 7.0% in the fourth quarter. Verition Fund Management LLC now owns 38,408 shares of the shipping company’s stock worth $347,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 46.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wall Street Zen raised Teekay from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Weiss Ratings raised Teekay from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy”.

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.