Shares of Teekay Corporation Ltd. (NYSE:TK – Get Free Report) traded down 7.3% during trading on Thursday . The stock traded as low as $11.21 and last traded at $11.1840. 249,009 shares changed hands during mid-day trading, a decline of 57% from the average daily volume of 584,537 shares. The stock had previously closed at $12.06.
Wall Street Analysts Forecast Growth
A number of research analysts have recently issued reports on TK shares. Weiss Ratings upgraded shares of Teekay from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Wall Street Zen downgraded shares of Teekay from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.
Read Our Latest Stock Report on TK
Teekay Price Performance
Teekay (NYSE:TK – Get Free Report) last released its quarterly earnings data on Wednesday, May 13th. The shipping company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.44. The firm had revenue of $285.82 million during the quarter, compared to analysts’ expectations of $285.82 million. Teekay had a return on equity of 6.36% and a net margin of 13.03%.
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.
Insider Activity at Teekay
In other Teekay news, Director Simon Heidi Locke sold 18,119 shares of the company’s stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $12.37, for a total transaction of $224,132.03. Following the transaction, the director directly owned 47,582 shares in the company, valued at approximately $588,589.34. This represents a 27.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Rudolph Krediet sold 63,042 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $11.80, for a total transaction of $743,895.60. Following the completion of the transaction, the director directly owned 35,167 shares of the company’s stock, valued at approximately $414,970.60. This trade represents a 64.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 408,818 shares of company stock worth $5,014,530 over the last three months. 2.38% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Teekay
Several institutional investors have recently modified their holdings of TK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Teekay by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock valued at $213,000 after purchasing an additional 1,404 shares in the last quarter. CWM LLC boosted its position in Teekay by 34.2% during the fourth quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock worth $51,000 after purchasing an additional 1,449 shares in the last quarter. Fisher Asset Management LLC boosted its position in Teekay by 3.8% during the third quarter. Fisher Asset Management LLC now owns 52,500 shares of the shipping company’s stock worth $429,000 after purchasing an additional 1,900 shares in the last quarter. Ritholtz Wealth Management grew its holdings in Teekay by 1.4% in the fourth quarter. Ritholtz Wealth Management now owns 154,498 shares of the shipping company’s stock valued at $1,395,000 after purchasing an additional 2,177 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in Teekay by 8.9% in the first quarter. Diversified Trust Co now owns 28,128 shares of the shipping company’s stock valued at $343,000 after purchasing an additional 2,306 shares during the last quarter. Hedge funds and other institutional investors own 46.73% of the company’s stock.
Teekay Company 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.
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