Insider Selling: Teekay (NYSE:TK) Director Sells $163,116.80 in Stock

Teekay Corporation Ltd. (NYSE:TK) Director Heidi Simon sold 11,585 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $14.08, for a total transaction of $163,116.80. Following the completion of the transaction, the director owned 46,001 shares in the company, valued at approximately $647,694.08. The trade was a 20.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Simon Heidi Locke also recently made the following trade(s):

• On Friday, August 21st, Heidi Simon sold 1,000 shares of Teekay stock. The stock was sold at an average price of $13.64, for a total value of $13,640.00.
• On Thursday, August 20th, Heidi Simon sold 485 shares of Teekay stock. The stock was sold at an average price of $13.24, for a total value of $6,421.40.
• On Wednesday, August 19th, Heidi Simon sold 96 shares of Teekay stock. The shares were sold at an average price of $13.19, for a total value of $1,266.24.
• On Monday, June 22nd, Heidi Simon sold 18,119 shares of Teekay stock. The stock was sold at an average price of $12.37, for a total value of $224,132.03.

Teekay Stock Performance

Shares of TK stock opened at $14.38 on Monday. The company has a market cap of $1.25 billion, a P/E ratio of 6.91 and a beta of 0.25. The stock has a 50 day simple moving average of $12.04 and a two-hundred day simple moving average of $12.21. Teekay Corporation Ltd. has a fifty-two week low of $7.80 and a fifty-two week high of $14.39.

Teekay (NYSE:TK) last posted its quarterly earnings results on Friday, July 31st. The shipping company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.68. Teekay had a return on equity of 7.91% and a net margin of 15.78%.During the same quarter in the previous year, the business posted $0.22 EPS.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TK. Weiss Ratings raised shares of Teekay from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, September 4th. Wall Street Zen raised shares of Teekay from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.

Hedge Funds Weigh In On Teekay

A number of hedge funds have recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Teekay in the first quarter valued at about $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Teekay by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock worth $213,000 after purchasing an additional 1,404 shares during the last quarter. Millennium Management LLC grew its position in Teekay by 153.8% in the 1st 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 in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Teekay in the 1st quarter worth about $267,000. Finally, Jane Street Group LLC increased its stake in Teekay by 82.3% in the 1st quarter. Jane Street Group LLC now owns 160,068 shares of the shipping company’s stock valued at $1,052,000 after buying an additional 72,240 shares during the last quarter. 46.73% of the stock is owned by hedge funds and other institutional investors.

Teekay Company Profile

Teekay Corporation (NYSE: TK) is a marine transportation company that provides international shipping services for the energy industry. Through its subsidiaries and affiliated companies, Teekay is primarily involved in the ownership and operation of crude oil and refined petroleum product tankers that transport energy commodities around the world.

The company’s fleet and commercial operations serve energy producers, refiners, commodity traders and other customers across major global shipping routes.