Engineers Gate Manager LP Buys Shares of 129,637 Teekay Corporation (TK)
Engineers Gate Manager LP bought a new stake in shares of Teekay Corporation (NYSE:TK) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 129,637 shares of the shipping company’s stock, valued at approximately $865,000. Engineers Gate Manager LP owned 0.15% of Teekay Corporation as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in TK. Teachers Advisors LLC boosted its stake in Teekay Corporation by 9.1% during the 4th quarter. Teachers Advisors LLC now owns 92,892 shares of the shipping company’s stock valued at $746,000 after purchasing an additional 7,754 shares during the period. Russell Investments Group Ltd. bought a new stake in Teekay Corporation during the 1st quarter valued at approximately $154,000. Bank of New York Mellon Corp boosted its stake in Teekay Corporation by 3.0% during the 1st quarter. Bank of New York Mellon Corp now owns 256,923 shares of the shipping company’s stock valued at $2,351,000 after purchasing an additional 7,475 shares during the period. Karp Capital Management Corp bought a new stake in Teekay Corporation during the 1st quarter valued at approximately $255,000. Finally, Trexquant Investment LP boosted its stake in Teekay Corporation by 8.6% during the 1st quarter. Trexquant Investment LP now owns 26,609 shares of the shipping company’s stock valued at $243,000 after purchasing an additional 2,109 shares during the period. Hedge funds and other institutional investors own 31.49% of the company’s stock.
Several analysts recently weighed in on the company. ValuEngine downgraded Teekay Corporation from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Morgan Stanley downgraded Teekay Corporation from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $8.00 to $3.00 in a research note on Friday, June 9th. Jefferies Group LLC restated a “hold” rating and set a $7.00 target price on shares of Teekay Corporation in a research note on Friday, May 19th. BidaskClub upgraded Teekay Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research raised Teekay Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Teekay Corporation has an average rating of “Hold” and an average target price of $5.33.
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Teekay Corporation (TK) opened at 8.83 on Friday. The firm’s market cap is $761.67 million. The firm has a 50-day moving average price of $9.30 and a 200 day moving average price of $8.23. Teekay Corporation has a 12-month low of $5.14 and a 12-month high of $11.77.
Teekay Corporation (NYSE:TK) last issued its quarterly earnings data on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.07). Teekay Corporation had a negative return on equity of 2.82% and a negative net margin of 5.66%. The firm had revenue of $513.90 million for the quarter, compared to the consensus estimate of $503.65 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The company’s revenue was down 12.5% on a year-over-year basis. Equities research analysts forecast that Teekay Corporation will post ($1.11) EPS for the current year.
Teekay Corporation Company Profile
Teekay Corporation (Teekay) is a provider of crude oil and gas marine transportation services. The Company also offers offshore oil production, storage and offloading services, primarily under long-term, fixed-rate contracts. The Company is engaged in the liquefied natural gas (LNG) and liquefied petroleum gas (LPG) shipping sectors, as well as in the operations in the offshore production, storage and transportation sector.
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