Key Points
- Teekay CEO Kenneth Hvid sold 132,884 shares at an average price of $14.28, generating approximately $1.90 million. The transaction reduced his ownership by 55.74%, leaving him with 105,500 shares.
- Teekay reported quarterly EPS of $0.79, beating the consensus estimate of $0.11 and rising from $0.22 in the same period a year earlier. The company also posted a 15.78% net margin and 7.91% return on equity.
- Analyst sentiment is positive, with Weiss Ratings and Wall Street Zen upgrading the stock to “buy”; MarketBeat reports an overall “Buy” rating. Institutional investors own 46.73% of Teekay’s shares.
Teekay Corporation Ltd. (NYSE:TK - Get Free Report) Director Heidi Simon sold 11,585 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $14.08, for a total value of $163,116.80. Following the transaction, the director directly owned 46,001 shares of the company's stock, valued at $647,694.08. This trade represents a 20.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
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 stock was 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 shares were sold at an average price of $12.37, for a total value of $224,132.03.
Teekay Trading Up 2.0%
NYSE:TK opened at $14.38 on Friday. Teekay Corporation Ltd. has a 1-year low of $7.80 and a 1-year high of $14.39. The firm has a fifty day simple moving average of $12.04 and a 200 day simple moving average of $12.20. The stock has a market capitalization of $1.25 billion, a PE ratio of 6.91 and a beta of 0.25.
Teekay (NYSE:TK - Get Free Report) last posted its quarterly earnings results on Friday, July 31st. The shipping company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.68. Teekay had a net margin of 15.78% and a return on equity of 7.91%. During the same quarter last year, the company earned $0.22 EPS.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on TK shares. Wall Street Zen upgraded shares of Teekay from a "hold" rating to a "buy" rating in a research note on Saturday, August 22nd. Weiss Ratings upgraded Teekay from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, September 4th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy".
Get Our Latest Stock Report on TK
Institutional Investors Weigh In On Teekay
A number of large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Teekay by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company's stock valued at $213,000 after purchasing an additional 1,404 shares during the last quarter. Diversified Trust Co increased its holdings in shares of Teekay by 8.9% in the first quarter. Diversified Trust Co now owns 28,128 shares of the shipping company's stock valued at $343,000 after purchasing an additional 2,306 shares during the last quarter. Empowered Funds LLC raised its position in shares of Teekay by 0.5% in the fourth quarter. Empowered Funds LLC now owns 473,886 shares of the shipping company's stock valued at $4,279,000 after purchasing an additional 2,382 shares during the period. Savant Capital LLC raised its position in shares of Teekay by 22.2% in the fourth quarter. Savant Capital LLC now owns 13,355 shares of the shipping company's stock valued at $121,000 after purchasing an additional 2,423 shares during the period. Finally, Verition Fund Management LLC lifted its stake in shares of Teekay by 7.0% during the 4th quarter. Verition Fund Management LLC now owns 38,408 shares of the shipping company's stock worth $347,000 after buying an additional 2,500 shares during the last quarter. Institutional investors own 46.73% of the company's stock.
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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