Summit Global Investments Takes Position in Teekay Co. (NYSE:TK)

Summit Global Investments bought a new position in Teekay Co. (NYSE:TK) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 87,102 shares of the shipping company’s stock, valued at approximately $623,000. Summit Global Investments owned 0.10% of Teekay as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Teekay during the 3rd quarter worth approximately $187,000. Strs Ohio boosted its stake in shares of Teekay by 2.6% during the third quarter. Strs Ohio now owns 98,300 shares of the shipping company’s stock valued at $606,000 after purchasing an additional 2,500 shares during the period. Los Angeles Capital Management LLC grew its holdings in shares of Teekay by 191.0% in the third quarter. Los Angeles Capital Management LLC now owns 271,110 shares of the shipping company’s stock worth $1,673,000 after purchasing an additional 177,930 shares during the last quarter. Versor Investments LP increased its stake in Teekay by 139.5% in the 3rd quarter. Versor Investments LP now owns 72,800 shares of the shipping company’s stock worth $449,000 after buying an additional 42,400 shares during the period. Finally, Privium Fund Management UK Ltd bought a new stake in Teekay during the 3rd quarter valued at about $106,000. Institutional investors own 46.73% of the company’s stock.

Teekay Price Performance

Shares of TK stock opened at $7.71 on Friday. The company has a market capitalization of $701.22 million, a P/E ratio of 5.04 and a beta of 0.62. The company’s 50-day simple moving average is $7.35 and its two-hundred day simple moving average is $7.47. Teekay Co. has a one year low of $5.01 and a one year high of $9.27. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.33 and a quick ratio of 5.03.

Teekay (NYSE:TK) last announced its quarterly earnings results on Thursday, February 22nd. The shipping company reported $0.34 EPS for the quarter. Teekay had a return on equity of 9.07% and a net margin of 10.28%. The firm had revenue of $339.19 million for the quarter.

Teekay Company Profile

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.