New York State Common Retirement Fund Purchases 49,798 Shares of Teekay Corporation Ltd. $TK

New York State Common Retirement Fund raised its position in shares of Teekay Corporation Ltd. (NYSE:TK) by 119.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 91,623 shares of the shipping company’s stock after purchasing an additional 49,798 shares during the period. New York State Common Retirement Fund owned about 0.10% of Teekay worth $749,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in TK. State of Alaska Department of Revenue bought a new position in shares of Teekay during the 3rd quarter worth $27,000. Cubist Systematic Strategies LLC purchased a new stake in Teekay in the first quarter worth about $48,000. Tower Research Capital LLC TRC grew its holdings in Teekay by 194.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock worth $63,000 after acquiring an additional 5,022 shares in the last quarter. Osaic Holdings Inc. increased its position in Teekay by 1,008.8% during the 2nd quarter. Osaic Holdings Inc. now owns 10,456 shares of the shipping company’s stock valued at $86,000 after purchasing an additional 9,513 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in shares of Teekay in the 2nd quarter valued at about $91,000. 46.73% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Stock Performance

TK stock opened at $10.58 on Wednesday. The firm has a market cap of $971.21 million, a price-to-earnings ratio of 7.50 and a beta of 0.20. The firm has a 50-day simple moving average of $9.57 and a two-hundred day simple moving average of $8.95. Teekay Corporation Ltd. has a one year low of $5.65 and a one year high of $10.74.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Teekay in a research note on Monday, December 29th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Teekay 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.