Aristides Capital LLC Invests $180,000 in Teekay Co. (NYSE:TK)

Aristides Capital LLC acquired a new stake in Teekay Co. (NYSE:TK) during the second quarter, Holdings Channel.com reports. The firm acquired 20,122 shares of the shipping company’s stock, valued at approximately $180,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its holdings in Teekay by 10.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,814 shares of the shipping company’s stock worth $130,000 after acquiring an additional 1,747 shares in the last quarter. CWM LLC raised its position in shares of Teekay by 135.2% during the second quarter. CWM LLC now owns 3,391 shares of the shipping company’s stock worth $30,000 after purchasing an additional 1,949 shares during the period. Diversified Trust Co lifted its holdings in shares of Teekay by 16.4% in the 2nd quarter. Diversified Trust Co now owns 14,211 shares of the shipping company’s stock worth $127,000 after purchasing an additional 2,004 shares in the last quarter. DGS Capital Management LLC lifted its holdings in shares of Teekay by 24.6% in the 1st quarter. DGS Capital Management LLC now owns 14,974 shares of the shipping company’s stock worth $109,000 after purchasing an additional 2,958 shares in the last quarter. Finally, Quarry LP grew its position in Teekay by 90.6% in the 2nd quarter. Quarry LP now owns 8,415 shares of the shipping company’s stock valued at $75,000 after purchasing an additional 4,000 shares during the period. Institutional investors own 46.73% of the company’s stock.

Teekay Stock Performance

Shares of NYSE TK opened at $9.21 on Wednesday. The stock has a market cap of $837.65 million, a price-to-earnings ratio of 5.69 and a beta of 0.59. Teekay Co. has a fifty-two week low of $5.70 and a fifty-two week high of $9.95. The firm’s 50-day simple moving average is $8.26 and its 200 day simple moving average is $8.30.

Teekay (NYSE:TK) last posted its earnings results on Thursday, August 1st. The shipping company reported $0.35 earnings per share for the quarter. Teekay had a return on equity of 7.03% and a net margin of 11.18%. The company had revenue of $326.14 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Teekay from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 28th.

Teekay Profile

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.