Teekay (NYSE:TK) Director Simon Heidi Locke Sells 11,585 Shares

Teekay Corporation Ltd. (NYSE:TK) Director Heidi Simon sold 11,585 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $14.08, for a total value of $163,116.80. Following the sale, the director directly owned 46,001 shares of the company’s stock, valued at approximately $647,694.08. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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 transaction of $13,640.00.
• On Thursday, August 20th, Heidi Simon sold 485 shares of Teekay stock. The shares were sold at an average price of $13.24, for a total transaction of $6,421.40.
• On Wednesday, August 19th, Heidi Simon sold 96 shares of Teekay stock. The shares were sold at an average price of $13.19, for a total transaction 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 transaction of $224,132.03.

Teekay Stock Up 2.0%

Shares of TK stock opened at $14.38 on Friday. The firm has a fifty day moving average of $12.04 and a 200-day moving average of $12.20. Teekay Corporation Ltd. has a 12-month low of $7.80 and a 12-month high of $14.39. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 6.91 and a beta of 0.25.

Teekay (NYSE:TK) last posted its quarterly earnings data on Friday, July 31st. The shipping company reported $0.79 EPS for the quarter, beating 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 period in the previous year, the company posted $0.22 EPS.

Institutional Trading of Teekay

A number of institutional investors have recently made changes to their positions in TK. Public Employees Retirement System of Ohio acquired a new position in Teekay during the second quarter worth $33,000. Transamerica Financial Advisors LLC increased its stake in Teekay by 250.8% in 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 last quarter. Zions Bancorporation National Association UT acquired a new stake in Teekay in the 4th quarter valued at $43,000. Cubist Systematic Strategies LLC bought a new stake in Teekay during the 1st quarter worth about $48,000. Finally, Pinnacle Holdings LLC bought a new stake in Teekay during the 2nd quarter worth about $62,000. Institutional investors own 46.73% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TK. Weiss Ratings upgraded Teekay from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, September 4th. Wall Street Zen upgraded Teekay from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Teekay has an average rating of “Buy”.

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.