Koss Olinger Consulting LLC Reduces Stake in Teekay Corporation Ltd. $TK

Koss Olinger Consulting LLC trimmed its stake in Teekay Corporation Ltd. (NYSE:TK) by 7.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,234 shares of the shipping company’s stock after selling 6,824 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Teekay were worth $654,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC bought a new stake in shares of Teekay in the first quarter valued at approximately $48,000. Virtus Advisers LLC bought a new stake in shares of Teekay in the first quarter valued at approximately $59,000. New York State Common Retirement Fund raised its position in shares of Teekay by 20.9% in the first quarter. New York State Common Retirement Fund now owns 10,425 shares of the shipping company’s stock valued at $68,000 after purchasing an additional 1,802 shares during the period. Magnetar Financial LLC bought a new stake in shares of Teekay in the first quarter valued at approximately $77,000. Finally, MQS Management LLC bought a new stake in shares of Teekay in the first quarter valued at approximately $85,000. Institutional investors own 46.73% of the company’s stock.

Teekay Trading Up 2.1%

Teekay stock opened at $9.30 on Tuesday. The firm’s 50 day simple moving average is $8.33 and its 200 day simple moving average is $8.00. The firm has a market capitalization of $853.65 million, a PE ratio of 6.59 and a beta of 0.42. Teekay Corporation Ltd. has a 1-year low of $5.65 and a 1-year high of $9.35.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Teekay in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Teekay presently has a consensus rating of “Sell”.

Teekay Profile

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.