Rudolph Krediet Sells 41,457 Shares of Teekay (NYSE:TK) Stock

Teekay Corporation Ltd. (NYSE:TK) Director Rudolph Krediet sold 41,457 shares of the firm’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $11.45, for a total transaction of $474,682.65. Following the sale, the director owned 35,167 shares in the company, valued at $402,662.15. This trade represents a 54.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Rudolph Krediet also recently made the following trade(s):

• On Wednesday, June 17th, Rudolph Krediet sold 63,042 shares of Teekay stock. The shares were sold at an average price of $11.80, for a total transaction of $743,895.60.

Teekay Stock Down 4.8%

Teekay stock opened at $11.22 on Wednesday. The company has a 50 day moving average of $11.30 and a 200-day moving average of $11.76. Teekay Corporation Ltd. has a twelve month low of $7.34 and a twelve month high of $14.38. The stock has a market capitalization of $974.11 million, a PE ratio of 5.40 and a beta of 0.23.

Teekay (NYSE:TK) last issued its quarterly earnings data on Wednesday, July 29th. The shipping company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.68. The business had revenue of $379.12 million for the quarter, compared to analyst estimates of $379.12 million. Teekay had a net margin of 15.78% and a return on equity of 7.91%. During the same period last year, the business posted $0.22 earnings per share.

Teekay Dividend Announcement

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

Institutional Investors Weigh In On Teekay

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC bought a new stake in Teekay during the 1st quarter worth about $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Teekay by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock valued at $213,000 after acquiring an additional 1,404 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Teekay by 153.8% in the 1st quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock valued at $7,807,000 after acquiring an additional 720,093 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Teekay in the first quarter valued at about $267,000. Finally, Jane Street Group LLC increased its position in shares of Teekay by 82.3% in the first quarter. Jane Street Group LLC now owns 160,068 shares of the shipping company’s stock valued at $1,052,000 after acquiring an additional 72,240 shares during the last quarter. 46.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen cut Teekay from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Weiss Ratings upgraded Teekay from a “hold (c-)” rating to a “buy (b-)” rating in a research note on Monday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy”.

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.