Teekay Corporation Ltd. $TK Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC reduced its stake in Teekay Corporation Ltd. (NYSE:TK) by 19.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 178,885 shares of the shipping company’s stock after selling 42,280 shares during the quarter. Los Angeles Capital Management LLC owned about 0.19% of Teekay worth $1,476,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TK. Cubist Systematic Strategies LLC purchased a new stake in shares of Teekay in the first quarter valued at $48,000. Virtus Advisers LLC purchased a new stake in Teekay during the first quarter worth approximately $59,000. New York State Common Retirement Fund boosted its position in Teekay by 20.9% during the 1st quarter. New York State Common Retirement Fund now owns 10,425 shares of the shipping company’s stock worth $68,000 after purchasing an additional 1,802 shares during the period. Magnetar Financial LLC acquired a new stake in shares of Teekay in the first quarter valued at about $77,000. Finally, MQS Management LLC acquired a new stake in Teekay in the first quarter valued at approximately $85,000. 46.73% of the stock is owned by hedge funds and other institutional investors.

Teekay Stock Down 0.5%

Shares of NYSE TK opened at $9.81 on Wednesday. The stock has a market capitalization of $900.91 million, a P/E ratio of 6.96 and a beta of 0.35. The firm’s 50-day moving average price is $8.69 and its two-hundred day moving average price is $8.25. Teekay Corporation Ltd. has a 52-week low of $5.65 and a 52-week high of $9.94.

Analyst Upgrades and Downgrades

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

About Teekay

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.