Teekay Corporation (TK) Shares Sold by Numeric Investors LLC
Numeric Investors LLC trimmed its stake in shares of Teekay Corporation (NYSE:TK) by 78.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 147,800 shares of the shipping company’s stock after selling 541,600 shares during the period. Numeric Investors LLC owned 0.17% of Teekay Corporation worth $986,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of TK. Russell Investments Group Ltd. purchased a new position in shares of Teekay Corporation in the 1st quarter worth $154,000. Bank of New York Mellon Corp grew its stake in shares of Teekay Corporation by 3.0% in the 1st quarter. Bank of New York Mellon Corp now owns 256,923 shares of the shipping company’s stock worth $2,351,000 after buying an additional 7,475 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Teekay Corporation in the 1st quarter worth $255,000. American International Group Inc. grew its stake in shares of Teekay Corporation by 17.2% in the 1st quarter. American International Group Inc. now owns 29,629 shares of the shipping company’s stock worth $271,000 after buying an additional 4,359 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Teekay Corporation by 8.6% in the 1st quarter. Alliancebernstein L.P. now owns 71,700 shares of the shipping company’s stock worth $656,000 after buying an additional 5,700 shares in the last quarter. 31.52% of the stock is owned by institutional investors.
A number of equities analysts have commented on TK shares. BidaskClub cut shares of Teekay Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reissued a “hold” rating on shares of Teekay Corporation in a research note on Friday, June 16th. ValuEngine raised shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, Zacks Investment Research raised shares of Teekay Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. Teekay Corporation presently has an average rating of “Hold” and a consensus price target of $6.50.
Teekay Corporation (NYSE:TK) opened at 8.86 on Wednesday. The stock’s market capitalization is $764.25 million. The firm has a 50 day moving average of $9.04 and a 200-day moving average of $8.15. Teekay Corporation has a 52 week low of $5.14 and a 52 week high of $11.77.
Teekay Corporation (NYSE:TK) last released its earnings results on Thursday, August 3rd. The shipping company reported ($0.44) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 business had revenue of $513.90 million for the quarter, compared to analysts’ expectations of $503.65 million. During the same period in the previous year, the company earned $0.01 EPS. Teekay Corporation’s quarterly revenue was down 12.5% compared to the same quarter last year. On average, equities analysts predict that Teekay Corporation will post ($1.26) EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Stockholders of record on Friday, November 3rd will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Thursday, November 2nd. Teekay Corporation’s payout ratio is -15.38%.
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Teekay Corporation 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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