Key Points
- Teekay CEO Kenneth Hvid sold 315,335 shares on June 11 at an average price of $12.36, totaling about $3.9 million. After the sale, he held 112,322 shares, a 73.74% drop in his ownership.
- Hvid also sold an additional 6,822 shares on June 12 for about $82,137, adding to the recent insider selling activity.
- Teekay recently reported better-than-expected quarterly earnings, with EPS of $0.55 versus a $0.11 consensus estimate. The company also paid a $1.00 special dividend and currently has a consensus analyst rating of Hold.
Teekay Corporation Ltd. (NYSE:TK - Get Free Report) CFO Brody Speers sold 5,500 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $12.15, for a total transaction of $66,825.00. Following the sale, the chief financial officer owned 3,364 shares of the company's stock, valued at approximately $40,872.60. This represents a 62.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Teekay Stock Performance
NYSE TK opened at $12.34 on Friday. The firm has a 50-day moving average of $12.72 and a 200-day moving average of $11.28. The stock has a market cap of $1.07 billion, a PE ratio of 8.17 and a beta of 0.19. Teekay Corporation Ltd. has a 52-week low of $7.11 and a 52-week high of $14.38.
Teekay (NYSE:TK - Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The shipping company reported $0.55 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $285.82 million.
Teekay Dividend Announcement
The company also recently declared a special dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were given a $1.00 dividend. The ex-dividend date was Tuesday, May 26th.
Institutional Investors Weigh In On Teekay
Institutional investors and hedge funds have recently bought and sold shares of the stock. Amundi grew its stake in shares of Teekay by 55.5% in the 1st quarter. Amundi now owns 32,166 shares of the shipping company's stock worth $393,000 after acquiring an additional 11,479 shares in the last quarter. Empowered Funds LLC boosted its position in Teekay by 8.0% during the first quarter. Empowered Funds LLC now owns 511,686 shares of the shipping company's stock worth $6,248,000 after purchasing an additional 37,800 shares during the period. Quantinno Capital Management LP boosted its position in Teekay by 12.9% during the first quarter. Quantinno Capital Management LP now owns 39,869 shares of the shipping company's stock worth $487,000 after purchasing an additional 4,549 shares during the period. Sei Investments Co. boosted its position in Teekay by 69.2% during the first quarter. Sei Investments Co. now owns 55,000 shares of the shipping company's stock worth $672,000 after purchasing an additional 22,486 shares during the period. Finally, Cetera Investment Advisers boosted its position in Teekay by 66.5% during the first quarter. Cetera Investment Advisers now owns 25,009 shares of the shipping company's stock worth $305,000 after purchasing an additional 9,992 shares during the period. 46.73% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts have recently issued reports on TK shares. Wall Street Zen downgraded shares of Teekay from a "buy" rating to a "hold" rating in a research report on Saturday, May 23rd. Weiss Ratings downgraded shares of Teekay from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of "Hold".
View Our Latest Report on Teekay
About Teekay
(
Get Free Report)
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.
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