Brody Speers Sells 2,350 Shares of Teekay (NYSE:TK) Stock

Teekay Corporation Ltd. (NYSE:TK) CFO Brody Speers sold 2,350 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $13.10, for a total value of $30,785.00. Following the transaction, the chief financial officer directly owned 1,014 shares of the company’s stock, valued at $13,283.40. This trade represents a 69.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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 value of $66,825.00.

Teekay Price Performance

NYSE:TK opened at $13.12 on Friday. Teekay Corporation Ltd. has a 12-month low of $7.57 and a 12-month high of $14.38. The firm has a market capitalization of $1.14 billion, a P/E ratio of 6.31 and a beta of 0.23. The business has a 50 day simple moving average of $11.39 and a 200 day simple moving average of $11.95.

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

Institutional Trading of Teekay

Several large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new stake in Teekay during the 2nd quarter valued at $33,000. Pinnacle Holdings LLC bought a new position in shares of Teekay in the second quarter worth $62,000. Empowered Funds LLC grew its stake in shares of Teekay by 8.0% in the first quarter. Empowered Funds LLC now owns 511,686 shares of the shipping company’s stock worth $6,248,000 after purchasing an additional 37,800 shares in the last quarter. Amundi increased its holdings in shares of Teekay by 55.5% during the first quarter. Amundi now owns 32,166 shares of the shipping company’s stock valued at $393,000 after purchasing an additional 11,479 shares during the period. Finally, Quantinno Capital Management LP increased its holdings in shares of Teekay by 12.9% during the first quarter. Quantinno Capital Management LP now owns 39,869 shares of the shipping company’s stock valued at $487,000 after purchasing an additional 4,549 shares during the period. 46.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on TK shares. Wall Street Zen cut shares of Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings raised shares of Teekay from a “hold (c-)” rating to a “buy (b-)” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy”.

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.