Denali Advisors LLC Buys Shares of 58,634 Teekay Corporation Ltd. $TK

Denali Advisors LLC bought a new stake in shares of Teekay Corporation Ltd. (NYSE:TK) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 58,634 shares of the shipping company’s stock, valued at approximately $484,000. Denali Advisors LLC owned approximately 0.06% of Teekay at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Ritholtz Wealth Management boosted its position in Teekay by 11.6% during the 2nd quarter. Ritholtz Wealth Management now owns 145,801 shares of the shipping company’s stock valued at $1,203,000 after acquiring an additional 15,180 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Teekay by 19.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,022,986 shares of the shipping company’s stock valued at $8,470,000 after purchasing an additional 164,561 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Teekay by 3.9% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 38,003 shares of the shipping company’s stock valued at $314,000 after purchasing an additional 1,411 shares during the last quarter. U S Global Investors Inc. purchased a new stake in shares of Teekay during the 2nd quarter valued at $331,000. Finally, Truist Financial Corp purchased a new stake in shares of Teekay during the 2nd quarter valued at $148,000. Institutional investors own 46.73% of the company’s stock.

Wall Street Analyst Weigh In

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

Teekay Trading Up 4.2%

Shares of TK opened at $8.59 on Thursday. The firm has a market cap of $788.45 million, a PE ratio of 6.09 and a beta of 0.42. The stock has a fifty day moving average price of $8.23 and a 200-day moving average price of $7.91. Teekay Corporation Ltd. has a 12 month low of $5.65 and a 12 month high of $9.35.

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.