Panagora Asset Management Inc. Grows Stock Holdings in Teekay Corporation Ltd. $TK

Panagora Asset Management Inc. boosted its position in Teekay Corporation Ltd. (NYSE:TK) by 7.6% in the 1st quarter, Holdings Channel reports. The fund owned 467,205 shares of the shipping company’s stock after purchasing an additional 32,927 shares during the period. Panagora Asset Management Inc.’s holdings in Teekay were worth $3,070,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Teekay by 80.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 858,425 shares of the shipping company’s stock valued at $5,657,000 after purchasing an additional 383,997 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of Teekay by 101.7% in the 1st quarter. Concurrent Investment Advisors LLC now owns 36,592 shares of the shipping company’s stock valued at $240,000 after purchasing an additional 18,452 shares during the last quarter. Cetera Investment Advisers acquired a new position in shares of Teekay in the 4th quarter valued at $606,000. GAMMA Investing LLC boosted its holdings in shares of Teekay by 381.8% in the 1st quarter. GAMMA Investing LLC now owns 4,139 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 3,280 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Teekay by 150.8% in the 1st quarter. GSA Capital Partners LLP now owns 135,021 shares of the shipping company’s stock valued at $887,000 after purchasing an additional 81,192 shares during the last quarter. 46.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Teekay from a “buy” rating to a “hold” rating in a report on Monday, May 19th.

Teekay Trading Up 0.8%

NYSE:TK opened at $8.20 on Tuesday. The firm has a market capitalization of $752.63 million, a price-to-earnings ratio of 5.81 and a beta of 0.49. The firm’s fifty day simple moving average is $7.78 and its 200 day simple moving average is $7.48. Teekay Corporation Ltd. has a twelve month low of $5.65 and a twelve month high of $9.78.

About Teekay

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.