Brody Speers Sells 5,500 Shares of Teekay (NYSE:TK) Stock

Teekay Corporation Ltd. (NYSE:TK) CFO Brody Speers sold 5,500 shares of Teekay stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $12.15, for a total transaction of $66,825.00. Following the transaction, the chief financial officer owned 3,364 shares in the company, valued at approximately $40,872.60. The trade was a 62.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Teekay Stock Performance

NYSE TK opened at $12.34 on Friday. Teekay Corporation Ltd. has a twelve month low of $7.11 and a twelve month high of $14.38. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 8.17 and a beta of 0.19. The firm’s 50 day moving average price is $12.72 and its two-hundred day moving average price is $11.28.

Teekay (NYSE:TK) last posted its quarterly earnings data on Wednesday, May 13th. The shipping company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.44. Teekay had a net margin of 13.03% and a return on equity of 6.36%. The firm had revenue of $285.82 million for the quarter, compared to analysts’ expectations of $285.82 million.

Teekay Dividend Announcement

The business also recently announced a special dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Tuesday, May 26th were paid a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, May 26th.

Institutional Investors Weigh In On Teekay

Institutional investors have recently modified their holdings of the stock. Transamerica Financial Advisors LLC boosted its stake in shares of Teekay by 250.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock valued at $40,000 after buying an additional 3,130 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Teekay during the 4th quarter valued at $43,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Teekay during the 1st quarter valued at $48,000. CWM LLC boosted its stake in shares of Teekay by 34.2% during the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after buying an additional 1,449 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Teekay by 194.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after purchasing an additional 5,022 shares during the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.

Analyst Ratings Changes

TK has been the subject of a number of research reports. Weiss Ratings lowered shares of Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, June 8th. Wall Street Zen lowered shares of Teekay from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Teekay has an average rating of “Hold”.

Teekay Company Profile

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.