Teekay (NYSE:TK) CFO Sells $30,785.00 in Stock

Teekay Corporation Ltd. (NYSE:TK) CFO Brody Speers sold 2,350 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $13.10, for a total transaction of $30,785.00. Following the completion of the sale, the chief financial officer owned 1,014 shares of the company’s stock, valued at $13,283.40. The trade was a 69.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Brody Speers also recently made the following trade(s):

• On Thursday, June 11th, Brody Speers sold 5,500 shares of Teekay stock. The stock was sold at an average price of $12.15, for a total transaction of $66,825.00.

Teekay Trading Up 0.2%

Shares of TK stock opened at $13.20 on Friday. Teekay Corporation Ltd. has a 1 year low of $7.80 and a 1 year high of $14.38. The firm’s 50 day moving average is $11.41 and its 200-day moving average is $11.96. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of 6.35 and a beta of 0.23.

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

Hedge Funds Weigh In On Teekay

Several large investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Teekay by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock worth $213,000 after acquiring an additional 1,404 shares during the period. CWM LLC raised its position in shares of Teekay by 34.2% during the 4th 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 last quarter. Diversified Trust Co lifted its stake in shares of Teekay by 8.9% in the 1st 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 lifted its stake in shares of Teekay by 0.5% in the 4th quarter. Empowered Funds LLC now owns 473,886 shares of the shipping company’s stock valued at $4,279,000 after purchasing an additional 2,382 shares during the period. Finally, Savant Capital LLC boosted its position in shares of Teekay by 22.2% in the 4th quarter. Savant Capital LLC now owns 13,355 shares of the shipping company’s stock worth $121,000 after purchasing an additional 2,423 shares during the last quarter. 46.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TK has been the subject of a number of recent research reports. Weiss Ratings downgraded Teekay from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. Wall Street Zen upgraded Teekay from a “hold” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Teekay currently has an average 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.