Simon Heidi Locke Sells 18,119 Shares of Teekay (NYSE:TK) Stock

Teekay Corporation Ltd. (NYSE:TK) Director Simon Heidi Locke sold 18,119 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $12.37, for a total transaction of $224,132.03. Following the completion of the transaction, the director owned 47,582 shares of the company’s stock, valued at approximately $588,589.34. The trade was a 27.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Teekay Price Performance

NYSE:TK opened at $12.49 on Wednesday. The firm has a market capitalization of $1.08 billion, a P/E ratio of 8.27 and a beta of 0.19. Teekay Corporation Ltd. has a one year low of $7.11 and a one year high of $14.38. The company’s 50-day simple moving average is $12.65 and its 200 day simple moving average is $11.41.

Teekay (NYSE:TK) last announced its earnings results on Wednesday, May 13th. The shipping company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $285.82 million.

Teekay Announces Dividend

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

Hedge Funds Weigh In On Teekay

Hedge funds have recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC increased its holdings in shares of Teekay by 250.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock worth $40,000 after purchasing an additional 3,130 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Teekay during the fourth quarter valued at $43,000. Cubist Systematic Strategies LLC bought a new position in shares of Teekay during the first quarter valued at $48,000. CWM LLC boosted its position in shares of Teekay by 34.2% during the fourth quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after buying an additional 1,449 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of Teekay by 194.8% during the second quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after buying an additional 5,022 shares during the last quarter. 46.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TK shares. Weiss Ratings cut Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 8th. Wall Street Zen lowered Teekay from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

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.