Teekay (NYSE:TK) Director Sells $743,895.60 in Stock

Teekay Corporation Ltd. (NYSE:TK) Director Rudolph Krediet sold 63,042 shares of the firm’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $11.80, for a total transaction of $743,895.60. Following the transaction, the director owned 35,167 shares in the company, valued at $414,970.60. This represents a 64.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Teekay Trading Down 0.0%

TK stock opened at $11.90 on Friday. The firm has a market cap of $1.03 billion, a PE ratio of 7.88 and a beta of 0.19. Teekay Corporation Ltd. has a 1 year low of $7.11 and a 1 year high of $14.38. The company has a fifty day simple moving average of $12.65 and a 200 day simple moving average of $11.35.

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

Teekay Announces Dividend

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

Hedge Funds Weigh In On Teekay

Institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in Teekay by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,405,895 shares of the shipping company’s stock valued at $66,004,000 after purchasing an additional 79,826 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Teekay by 58.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,783,869 shares of the shipping company’s stock worth $33,796,000 after buying an additional 1,029,977 shares during the last quarter. American Century Companies Inc. boosted its position in shares of Teekay by 6.5% in the third quarter. American Century Companies Inc. now owns 2,401,121 shares of the shipping company’s stock valued at $19,641,000 after acquiring an additional 147,009 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Teekay by 5.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 2,215,192 shares of the shipping company’s stock worth $18,120,000 after acquiring an additional 110,755 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Teekay by 88.5% in the third quarter. Millennium Management LLC now owns 1,420,284 shares of the shipping company’s stock worth $11,618,000 after acquiring an additional 666,990 shares during the last quarter. 46.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TK has been the subject of several analyst reports. Wall Street Zen lowered Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Weiss Ratings downgraded Teekay from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus 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.