Kenneth Hvid Sells 6,822 Shares of Teekay (NYSE:TK) Stock

Teekay Corporation Ltd. (NYSE:TK) CEO Kenneth Hvid sold 6,822 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $12.04, for a total transaction of $82,136.88. Following the completion of the transaction, the chief executive officer owned 105,500 shares in the company, valued at $1,270,220. This trade represents a 6.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Kenneth Hvid also recently made the following trade(s):

• On Thursday, June 11th, Kenneth Hvid sold 315,335 shares of Teekay stock. The stock was sold at an average price of $12.36, for a total transaction of $3,897,540.60.

Teekay Price Performance

Shares of NYSE:TK traded up $0.46 during trading on Friday, hitting $12.34. The company’s stock had a trading volume of 355,519 shares, compared to its average volume of 640,616. Teekay Corporation Ltd. has a 12 month low of $7.11 and a 12 month high of $14.38. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 8.17 and a beta of 0.19. The company has a 50-day moving average of $12.72 and a 200-day moving average of $11.28.

Teekay (NYSE:TK) last released its earnings results on Wednesday, May 13th. The shipping company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.44. Teekay had a net margin of 13.03% and a return on equity of 6.36%. The company had revenue of $285.82 million for the quarter, compared to analysts’ expectations of $285.82 million.

Teekay Announces Dividend

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

Institutional Investors Weigh In On Teekay

Several institutional investors and hedge funds have recently modified their holdings of the stock. Amundi raised its position in shares of Teekay by 55.5% during the first quarter. Amundi now owns 32,166 shares of the shipping company’s stock valued at $393,000 after buying an additional 11,479 shares during the last quarter. Empowered Funds LLC raised its position in shares of Teekay by 8.0% during the first quarter. Empowered Funds LLC now owns 511,686 shares of the shipping company’s stock valued at $6,248,000 after buying an additional 37,800 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of Teekay by 12.9% during the first quarter. Quantinno Capital Management LP now owns 39,869 shares of the shipping company’s stock valued at $487,000 after buying an additional 4,549 shares during the last quarter. Sei Investments Co. raised its position in shares of Teekay by 69.2% during the first quarter. Sei Investments Co. now owns 55,000 shares of the shipping company’s stock valued at $672,000 after buying an additional 22,486 shares during the last quarter. Finally, Cetera Investment Advisers raised its position in shares of Teekay by 66.5% during the first quarter. Cetera Investment Advisers now owns 25,009 shares of the shipping company’s stock valued at $305,000 after buying an additional 9,992 shares during the last quarter. Institutional investors own 46.73% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on TK. Wall Street Zen cut shares of Teekay from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings cut shares of Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

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.