Teekay (NYSE:TK) CFO Brody Speers Sells 5,500 Shares of Stock

Teekay Corporation Ltd. (NYSE:TK) CFO Brody Speers sold 5,500 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $12.15, for a total transaction of $66,825.00. Following the completion of the transaction, the chief financial officer owned 3,364 shares in the company, valued at approximately $40,872.60. This trade represents a 62.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Teekay Trading Up 3.9%

Shares of NYSE TK opened at $12.34 on Friday. The company has a market cap of $1.07 billion, a PE ratio of 8.17 and a beta of 0.19. The company has a 50-day moving average of $12.72 and a two-hundred day moving average of $11.28. Teekay Corporation Ltd. has a 1-year low of $7.11 and a 1-year high of $14.38.

Teekay (NYSE:TK) last posted its quarterly earnings results on Wednesday, May 13th. The shipping company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.44. The business had revenue of $285.82 million during the quarter, compared to the consensus estimate of $285.82 million. Teekay had a net margin of 13.03% and a return on equity of 6.36%.

Teekay Dividend Announcement

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

Institutional Trading of Teekay

Several institutional investors and hedge funds have recently added to or reduced their stakes in TK. Cubist Systematic Strategies LLC bought a new stake in Teekay during the first quarter worth $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Teekay by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock worth $213,000 after acquiring an additional 1,404 shares in the last quarter. Millennium Management LLC raised its position in Teekay by 153.8% during the first 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Teekay during the first quarter worth $267,000. Finally, Jane Street Group LLC raised its position in Teekay by 82.3% during the first quarter. Jane Street Group LLC now owns 160,068 shares of the shipping company’s stock worth $1,052,000 after acquiring an additional 72,240 shares in the last quarter. 46.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on TK shares. Weiss Ratings cut shares of Teekay from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. Wall Street Zen cut shares of Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock 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.