Teekay (NYSE:TK) Director Rudolph Krediet Sells 63,042 Shares

Teekay Corporation Ltd. (NYSE:TK) Director Rudolph Krediet sold 63,042 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $11.80, for a total transaction of $743,895.60. Following the transaction, the director directly owned 35,167 shares of the company’s stock, valued at $414,970.60. This represents a 64.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Teekay Stock Performance

TK opened at $11.74 on Thursday. Teekay Corporation Ltd. has a 52-week low of $7.11 and a 52-week high of $14.38. The business’s 50-day simple moving average is $12.67 and its 200 day simple moving average is $11.33. The firm has a market capitalization of $1.02 billion, a PE ratio of 7.77 and a beta of 0.19.

Teekay (NYSE:TK) last released its earnings results on Wednesday, May 13th. The shipping company reported $0.55 earnings per share for the quarter, beating 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 business had revenue of $285.82 million during the quarter, compared to analysts’ expectations of $285.82 million.

Teekay Dividend Announcement

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

Wall Street Analysts Forecast Growth

TK has been the subject of a number of recent research reports. Wall Street Zen cut shares of Teekay from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings cut shares of Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, June 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, Teekay currently has an average rating of “Hold”.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TK. Mercuria Capital Strategies LLC acquired a new position in Teekay during the fourth quarter worth about $11,091,000. Allspring Global Investments Holdings LLC raised its stake in 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 acquiring an additional 1,029,977 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Teekay by 153.8% during the first quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock worth $7,807,000 after purchasing an additional 720,093 shares during the last quarter. O Shaughnessy Asset Management LLC bought a new stake in shares of Teekay during the fourth quarter worth about $4,066,000. Finally, HRT Financial LP bought a new stake in shares of Teekay during the fourth quarter worth about $2,996,000. Institutional investors and hedge funds 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.