UBS Group AG Reduces Stock Position in Teekay Corporation Ltd. $TK

UBS Group AG lowered its stake in shares of Teekay Corporation Ltd. (NYSE:TK) by 30.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 907,303 shares of the shipping company’s stock after selling 397,216 shares during the period. UBS Group AG’s holdings in Teekay were worth $8,193,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TK. Cubist Systematic Strategies LLC bought a new position in shares of Teekay in the first quarter worth $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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. Millennium Management LLC increased its stake in 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 acquiring an additional 720,093 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Teekay in the first quarter valued at $267,000. Finally, Jane Street Group LLC increased its stake in Teekay by 82.3% in the first quarter. Jane Street Group LLC now owns 160,068 shares of the shipping company’s stock valued at $1,052,000 after acquiring an additional 72,240 shares during the last quarter. Institutional investors own 46.73% of the company’s stock.

Teekay Price Performance

TK opened at $13.22 on Monday. The stock has a market cap of $1.15 billion, a PE ratio of 8.75 and a beta of 0.23. Teekay Corporation Ltd. has a 52 week low of $7.11 and a 52 week high of $14.38. The business’s fifty day simple moving average is $12.55 and its 200 day simple moving average is $10.95.

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

Teekay Announces Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, May 26th.

Analyst Ratings Changes

Separately, Wall Street Zen raised Teekay from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company 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.