Insider Selling: Teekay (NYSE:TK) Director Sells $474,682.65 in Stock

Teekay Corporation Ltd. (NYSE:TK) Director Rudolph Krediet sold 41,457 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $11.45, for a total transaction of $474,682.65. Following the completion of the sale, the director directly owned 35,167 shares of the company’s stock, valued at $402,662.15. The trade was a 54.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Rudolph Krediet also recently made the following trade(s):

• On Wednesday, June 17th, Rudolph Krediet sold 63,042 shares of Teekay stock. The shares were sold at an average price of $11.80, for a total transaction of $743,895.60.

Teekay Stock Performance

Shares of TK stock traded up $0.13 during trading hours on Monday, hitting $11.78. 551,036 shares of the company were exchanged, compared to its average volume of 588,778. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 5.67 and a beta of 0.23. Teekay Corporation Ltd. has a one year low of $7.22 and a one year high of $14.38. The business’s 50-day simple moving average is $11.36 and its two-hundred day simple moving average is $11.74.

Teekay (NYSE:TK) last announced its quarterly earnings data on Wednesday, July 29th. The shipping company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.68. The firm had revenue of $379.12 million during the quarter, compared to analyst estimates of $379.12 million. Teekay had a return on equity of 8.40% and a net margin of 15.78%.During the same period in the previous year, the company earned $0.22 earnings per share.

Teekay Dividend Announcement

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

Hedge Funds Weigh In On Teekay

Large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC acquired a new position in Teekay in the first quarter valued at approximately $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Teekay by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock worth $213,000 after purchasing an additional 1,404 shares during the period. Millennium Management LLC raised its position in shares of 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 purchasing an additional 720,093 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Teekay in the 1st quarter worth approximately $267,000. Finally, Jane Street Group LLC lifted its holdings in shares of Teekay by 82.3% in the 1st quarter. Jane Street Group LLC now owns 160,068 shares of the shipping company’s stock worth $1,052,000 after purchasing an additional 72,240 shares during the last quarter. Institutional investors own 46.73% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Weiss Ratings downgraded Teekay from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, July 17th. Wall Street Zen downgraded shares of Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently 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.