62,843 Shares in Teekay Corporation Ltd. $TK Bought by U S Global Investors Inc.

U S Global Investors Inc. purchased a new stake in shares of Teekay Corporation Ltd. (NYSE:TK) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 62,843 shares of the shipping company’s stock, valued at approximately $767,000. U S Global Investors Inc. owned approximately 0.07% of Teekay at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Teekay by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock valued at $213,000 after buying an additional 1,404 shares in the last quarter. CWM LLC increased 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 worth $51,000 after acquiring an additional 1,449 shares in the last quarter. Ritholtz Wealth Management increased its position in shares of Teekay by 1.4% during the fourth quarter. Ritholtz Wealth Management now owns 154,498 shares of the shipping company’s stock worth $1,395,000 after acquiring an additional 2,177 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Teekay by 8.9% in the 1st quarter. Diversified Trust Co now owns 28,128 shares of the shipping company’s stock worth $343,000 after acquiring an additional 2,306 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Teekay by 0.5% in the 4th quarter. Empowered Funds LLC now owns 473,886 shares of the shipping company’s stock worth $4,279,000 after acquiring an additional 2,382 shares during the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.

Insiders Place Their Bets

In related news, Director Simon Heidi Locke sold 18,119 shares of the stock in a transaction that occurred on 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 sale, the director directly owned 47,582 shares of the company’s stock, valued at approximately $588,589.34. This trade represents a 27.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kenneth Hvid sold 315,335 shares of Teekay stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $12.36, for a total value of $3,897,540.60. Following the sale, the chief executive officer owned 112,322 shares in the company, valued at $1,388,299.92. This trade represents a 73.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 408,818 shares of company stock worth $5,014,530 over the last 90 days. 2.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on TK shares. Wall Street Zen downgraded Teekay from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings upgraded Teekay from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 23rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Teekay Price Performance

Shares of TK stock traded up $0.32 on Friday, hitting $10.97. The stock had a trading volume of 452,611 shares, compared to its average volume of 541,250. The business has a 50 day moving average of $12.10 and a 200 day moving average of $11.52. The stock has a market cap of $952.41 million, a price-to-earnings ratio of 7.27 and a beta of 0.22. Teekay Corporation Ltd. has a 12-month low of $7.11 and a 12-month high of $14.38.

Teekay (NYSE:TK) last released its quarterly 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 company had revenue of $285.82 million for the quarter, compared to analyst estimates of $285.82 million.

Teekay Dividend Announcement

The company also recently announced 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.

About Teekay

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.