Y Intercept Hong Kong Ltd Buys Shares of 69,956 Teekay Corporation Ltd. $TK

Y Intercept Hong Kong Ltd acquired a new position in shares of Teekay Corporation Ltd. (NYSE:TK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 69,956 shares of the shipping company’s stock, valued at approximately $577,000. Y Intercept Hong Kong Ltd owned 0.08% of Teekay as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Concurrent Investment Advisors LLC grew its stake in Teekay by 101.7% in the first quarter. Concurrent Investment Advisors LLC now owns 36,592 shares of the shipping company’s stock valued at $240,000 after acquiring an additional 18,452 shares during the period. GSA Capital Partners LLP lifted its position in 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 acquiring an additional 81,192 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Teekay during the 1st quarter worth approximately $1,284,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Teekay by 19.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,022,986 shares of the shipping company’s stock valued at $8,470,000 after acquiring an additional 164,561 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Teekay by 19.9% during the first quarter. Envestnet Asset Management Inc. now owns 120,345 shares of the shipping company’s stock valued at $791,000 after acquiring an additional 19,973 shares during the last quarter. 46.73% of the stock is owned by institutional investors.

Teekay Stock Up 0.3%

Shares of NYSE:TK opened at $9.73 on Friday. The firm has a market capitalization of $893.56 million, a PE ratio of 6.90 and a beta of 0.35. The company has a 50-day moving average price of $8.59 and a two-hundred day moving average price of $8.17. Teekay Corporation Ltd. has a twelve month low of $5.65 and a twelve month high of $9.81.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Teekay in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Teekay has an average rating of “Sell”.

Teekay Company 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.