Brody Speers Sells 2,350 Shares of Teekay (NYSE:TK) Stock

Teekay Corporation Ltd. (NYSE:TK) CFO Brody Speers sold 2,350 shares of Teekay stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $13.10, for a total transaction of $30,785.00. Following the completion of the sale, the chief financial officer directly owned 1,014 shares in the company, valued at approximately $13,283.40. This represents a 69.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Brody Speers also recently made the following trade(s):

• On Thursday, June 11th, Brody Speers sold 5,500 shares of Teekay stock. The shares were sold at an average price of $12.15, for a total transaction of $66,825.00.

Teekay Trading Up 1.4%

Shares of NYSE:TK traded up $0.19 during mid-day trading on Wednesday, reaching $13.16. The company had a trading volume of 667,343 shares, compared to its average volume of 583,482. Teekay Corporation Ltd. has a one year low of $7.51 and a one year high of $14.38. The company’s 50-day moving average price is $11.34 and its 200-day moving average price is $11.91. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 6.33 and a beta of 0.23.

Teekay (NYSE:TK) last released its earnings results on Friday, July 31st. The shipping company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.68. Teekay had a return on equity of 7.91% and a net margin of 15.78%.During the same period in the prior year, the company earned $0.22 earnings per share.

Analysts Set New Price Targets

Several analysts have recently issued reports on TK shares. Weiss Ratings raised shares of Teekay from a “hold (c-)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. Wall Street Zen downgraded Teekay from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Institutional Investors Weigh In On Teekay

Large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in Teekay in the 2nd quarter worth about $33,000. Transamerica Financial Advisors LLC increased its position in shares of Teekay by 250.8% in the fourth quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock worth $40,000 after purchasing an additional 3,130 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Teekay in the fourth quarter valued at approximately $43,000. Cubist Systematic Strategies LLC bought a new stake in Teekay during the first quarter valued at approximately $48,000. Finally, CWM LLC grew its stake in Teekay by 34.2% in the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock worth $51,000 after buying an additional 1,449 shares in the last quarter. Institutional investors own 46.73% of the company’s stock.

About Teekay

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.