Teekay (NYSE:TK) Director Simon Heidi Locke Sells 1,000 Shares of Stock

Teekay Corporation Ltd. (NYSE:TK) Director Simon Heidi Locke sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $13.64, for a total transaction of $13,640.00. Following the transaction, the director owned 46,001 shares of the company’s stock, valued at approximately $627,453.64. The trade was a 2.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Simon Heidi Locke also recently made the following trade(s):

• On Thursday, August 20th, Simon Heidi Locke sold 485 shares of Teekay stock. The stock was sold at an average price of $13.24, for a total transaction of $6,421.40.
• On Wednesday, August 19th, Simon Heidi Locke 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, Simon Heidi Locke sold 18,119 shares of Teekay stock. The shares were sold at an average price of $12.37, for a total value of $224,132.03.

Teekay Stock Performance

Shares of TK opened at $13.20 on Friday. The firm has a market cap of $1.15 billion, a PE ratio of 6.35 and a beta of 0.23. Teekay Corporation Ltd. has a 52-week low of $7.80 and a 52-week high of $14.38. The business’s 50 day moving average price is $11.41 and its two-hundred day moving average price is $11.96.

Teekay (NYSE:TK) last issued its earnings results on Friday, July 31st. The shipping company reported $0.79 earnings per share (EPS) for the quarter, topping 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 quarter last year, the firm earned $0.22 EPS.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Teekay from a “hold” rating to a “buy” rating in a report on Saturday. Weiss Ratings downgraded shares of Teekay from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Teekay currently has a consensus rating of “Hold”.

Institutional Trading of Teekay

A number of hedge funds have recently made changes to their positions in the stock. Mercuria Capital Strategies LLC purchased a new stake in Teekay during the fourth quarter valued at about $11,091,000. Allspring Global Investments Holdings LLC boosted its position in Teekay by 58.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,783,869 shares of the shipping company’s stock valued at $33,796,000 after buying an additional 1,029,977 shares during the period. Millennium Management LLC boosted its holdings in Teekay by 153.8% during 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 during the period. O Shaughnessy Asset Management LLC bought a new position in shares of Teekay in the fourth quarter worth approximately $4,066,000. Finally, HRT Financial LP bought a new stake in Teekay in the 4th quarter worth $2,996,000. 46.73% of the stock is owned by institutional investors.

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.