Sanctuary Advisors LLC Makes New $875,000 Investment in Teekay Corporation Ltd. $TK

Sanctuary Advisors LLC bought a new stake in Teekay Corporation Ltd. (NYSE:TK) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 71,664 shares of the shipping company’s stock, valued at approximately $875,000. Sanctuary Advisors LLC owned approximately 0.08% of Teekay as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Transamerica Financial Advisors LLC lifted its position in shares of Teekay by 250.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock worth $40,000 after buying an additional 3,130 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Teekay in the fourth quarter valued at about $43,000. CWM LLC grew its position in Teekay by 34.2% in the fourth quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 1,449 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in Teekay during the first quarter worth about $48,000. Finally, Tower Research Capital LLC TRC raised its stake in Teekay by 194.8% during the second quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock worth $63,000 after acquiring an additional 5,022 shares in the last quarter. Institutional investors own 46.73% of the company’s stock.

Wall Street Analyst Weigh In

TK has been the topic of a number of research analyst reports. Weiss Ratings downgraded shares of Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 17th. Wall Street Zen cut shares of Teekay from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Teekay Stock Up 0.2%

NYSE TK opened at $11.20 on Friday. Teekay Corporation Ltd. has a twelve month low of $7.11 and a twelve month high of $14.38. The company has a market cap of $971.68 million, a price-to-earnings ratio of 7.42 and a beta of 0.22. The business’s fifty day moving average is $11.58 and its 200 day moving average is $11.65.

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

Teekay Dividend Announcement

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

Insiders Place Their Bets

In other Teekay news, Director Simon Heidi Locke sold 18,119 shares of Teekay stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $12.37, for a total value of $224,132.03. Following the completion of the sale, the director directly owned 47,582 shares in the company, valued at approximately $588,589.34. The trade was a 27.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brody Speers sold 5,500 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $12.15, for a total value of $66,825.00. Following the completion of the transaction, the chief financial officer directly owned 3,364 shares in the company, valued at approximately $40,872.60. This trade represents a 62.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 408,818 shares of company stock worth $5,014,530 in the last quarter. 2.38% of the stock is currently owned by company insiders.

Teekay 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.