Hsbc Holdings PLC Acquires New Shares in Teekay Corporation Ltd. $TK

Hsbc Holdings PLC bought a new position in Teekay Corporation Ltd. (NYSE:TK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 69,957 shares of the shipping company’s stock, valued at approximately $630,000. Hsbc Holdings PLC owned approximately 0.08% of Teekay as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TK. Cubist Systematic Strategies LLC bought a new stake in shares of Teekay during the first quarter worth about $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 valued at $213,000 after buying an additional 1,404 shares during the period. Millennium Management LLC grew its holdings in Teekay by 153.8% during the 1st quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock worth $7,807,000 after acquiring an additional 720,093 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Teekay during the 1st quarter worth approximately $267,000. Finally, Jane Street Group LLC increased its position in Teekay by 82.3% in the 1st 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 period. 46.73% of the stock is currently owned by institutional investors.

Teekay Stock Performance

Teekay stock opened at $11.03 on Thursday. Teekay Corporation Ltd. has a 52-week low of $7.11 and a 52-week high of $14.38. The firm has a 50 day moving average price of $11.93 and a two-hundred day moving average price of $11.57. The firm has a market cap of $956.84 million, a price-to-earnings ratio of 7.30 and a beta of 0.22.

Teekay (NYSE:TK) last posted its quarterly earnings data on Wednesday, May 13th. The shipping company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $285.82 million.

Teekay Announces Dividend

The firm also recently announced a special dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, May 26th.

Analyst Upgrades and Downgrades

TK has been the topic of a number of recent research reports. Wall Street Zen lowered shares of Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings raised Teekay from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Insiders Place Their Bets

In other Teekay news, CFO Brody Speers sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $12.15, for a total value of $66,825.00. Following the transaction, the chief financial officer directly owned 3,364 shares of the company’s stock, valued at approximately $40,872.60. The trade was a 62.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kenneth Hvid sold 6,822 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $12.04, for a total value of $82,136.88. Following the transaction, the chief executive officer owned 105,500 shares in the company, valued at $1,270,220. The trade was a 6.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 408,818 shares of company stock valued at $5,014,530. Company insiders own 2.38% of the company’s stock.

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.