Insider Selling: Teekay (NYSE:TK) Director Sells $13,640.00 in Stock

Teekay Corporation Ltd. (NYSE:TK) Director Simon Heidi Locke sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $13.64, for a total value of $13,640.00. Following the completion of the transaction, the director owned 46,001 shares of the company’s stock, valued at approximately $627,453.64. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

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

Teekay Trading Up 0.2%

NYSE TK traded up $0.02 on Friday, hitting $13.20. 867,196 shares of the company’s stock traded hands, compared to its average volume of 584,354. The firm’s 50-day moving average price is $11.39 and its two-hundred day moving average price is $11.95. The firm has a market capitalization of $1.15 billion, a PE ratio of 6.35 and a beta of 0.23. Teekay Corporation Ltd. has a 1-year low of $7.80 and a 1-year high of $14.38.

Teekay (NYSE:TK) last released its quarterly earnings data on Friday, July 31st. The shipping company reported $0.79 earnings per share for the quarter, topping 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 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Weiss Ratings raised Teekay from a “hold (c-)” rating to a “buy (b-)” rating in a report on Monday, August 3rd. Wall Street Zen downgraded Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy”.

Hedge Funds Weigh In On Teekay

Several hedge funds and other institutional investors have recently made changes to their positions in TK. Allspring Global Investments Holdings LLC boosted its stake in Teekay by 58.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,783,869 shares of the shipping company’s stock worth $33,796,000 after buying an additional 1,029,977 shares during the last quarter. Denali Advisors LLC boosted its position in shares of Teekay by 38.3% in the fourth quarter. Denali Advisors LLC now owns 283,213 shares of the shipping company’s stock worth $2,557,000 after acquiring an additional 78,389 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new stake in shares of Teekay in the fourth quarter worth approximately $948,000. Versor Investments LP grew its holdings in Teekay by 177.0% in the fourth quarter. Versor Investments LP now owns 63,700 shares of the shipping company’s stock valued at $575,000 after purchasing an additional 40,700 shares during the period. Finally, Concurrent Investment Advisors LLC increased its position in Teekay by 128.1% during the fourth quarter. Concurrent Investment Advisors LLC now owns 104,840 shares of the shipping company’s stock worth $947,000 after purchasing an additional 58,884 shares during the last quarter. Hedge funds and other institutional investors own 46.73% of the company’s stock.

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.