Teekay Corporation Ltd. $TK Holdings Decreased by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in Teekay Corporation Ltd. (NYSE:TK) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,074,674 shares of the shipping company’s stock after selling 121,201 shares during the quarter. Renaissance Technologies LLC owned about 4.70% of Teekay worth $49,752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TK. Transamerica Financial Advisors LLC raised its position in shares of Teekay by 250.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock worth $40,000 after buying an additional 3,130 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Teekay in the fourth quarter valued at approximately $43,000. Cubist Systematic Strategies LLC bought a new position in shares of Teekay in the first quarter valued at approximately $48,000. CWM LLC increased its stake in shares of Teekay by 34.2% during 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 during the period. Finally, Tower Research Capital LLC TRC raised its holdings in Teekay by 194.8% during the second quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock worth $63,000 after purchasing an additional 5,022 shares in the last quarter. Institutional investors own 46.73% of the company’s stock.

Wall Street Analysts Forecast Growth

TK has been the subject of a number of research analyst reports. Weiss Ratings downgraded Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, July 17th. Wall Street Zen cut Teekay from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Teekay has a consensus rating of “Hold”.

Teekay Trading Down 0.1%

Shares of NYSE TK opened at $11.19 on Tuesday. Teekay Corporation Ltd. has a twelve month low of $7.11 and a twelve month high of $14.38. The firm has a 50-day moving average of $11.53 and a two-hundred day moving average of $11.69. The company has a market capitalization of $971.24 million, a price-to-earnings ratio of 7.41 and a beta of 0.22.

Teekay (NYSE:TK) last announced its quarterly earnings data 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 net margin of 13.03% and a return on equity of 6.36%. The company had revenue of $285.82 million for the quarter, compared to analysts’ expectations of $285.82 million.

Teekay Dividend Announcement

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

Insider Buying and Selling at Teekay

In other Teekay news, Director Rudolph Krediet sold 63,042 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $11.80, for a total value 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brody Speers sold 5,500 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $12.15, for a total value of $66,825.00. Following the completion of the transaction, the chief financial officer directly owned 3,364 shares in the company, valued at $40,872.60. This represents a 62.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 408,818 shares of company stock worth $5,014,530. 2.38% of the stock is owned by corporate insiders.

Teekay 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.