Teekay (NYSE:TK) Director Simon Heidi Locke Sells 18,119 Shares of Stock

Teekay Corporation Ltd. (NYSE:TK) Director Simon Heidi Locke sold 18,119 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $12.37, for a total value of $224,132.03. Following the sale, the director directly owned 47,582 shares in the company, valued at $588,589.34. This trade represents a 27.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Teekay Trading Up 3.7%

Shares of NYSE:TK traded up $0.44 during midday trading on Monday, hitting $12.35. 581,678 shares of the stock were exchanged, compared to its average volume of 589,187. Teekay Corporation Ltd. has a twelve month low of $7.11 and a twelve month high of $14.38. The company has a 50 day moving average price of $12.65 and a 200-day moving average price of $11.37. The stock has a market cap of $1.07 billion, a P/E ratio of 8.18 and a beta of 0.19.

Teekay (NYSE:TK) last announced its quarterly earnings results on Wednesday, May 13th. The shipping company reported $0.55 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $285.82 million.

Teekay Announces Dividend

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

Hedge Funds Weigh In On Teekay

A number of hedge funds have recently made changes to their positions in the stock. Mercuria Capital Strategies LLC purchased a new stake in Teekay during the fourth quarter valued at about $11,091,000. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 purchasing an additional 1,029,977 shares during the period. Millennium Management LLC raised its holdings in shares of Teekay by 153.8% in the 1st quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock worth $7,807,000 after purchasing an additional 720,093 shares during the period. O Shaughnessy Asset Management LLC acquired a new position in shares of Teekay in the 4th quarter valued at about $4,066,000. Finally, HRT Financial LP acquired a new position in shares of Teekay in the 4th quarter valued at about $2,996,000. Institutional investors and hedge funds own 46.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TK. Wall Street Zen downgraded Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings downgraded Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Teekay presently has an average rating of “Hold”.

About Teekay

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.