Teekay (NYSE:TK) CEO Kenneth Hvid Sells 132,884 Shares

Teekay Corporation Ltd. (NYSE:TK) CEO Kenneth Hvid sold 132,884 shares of Teekay stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $14.28, for a total transaction of $1,897,583.52. Following the transaction, the chief executive officer owned 105,500 shares of the company’s stock, valued at approximately $1,506,540. The trade was a 55.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Teekay Stock Performance

Shares of NYSE:TK opened at $14.38 on Friday. The business’s fifty day moving average price is $12.04 and its two-hundred day moving average price is $12.20. The stock has a market cap of $1.25 billion, a PE ratio of 6.91 and a beta of 0.25. Teekay Corporation Ltd. has a one year low of $7.80 and a one year high of $14.39.

Teekay (NYSE:TK) last announced its quarterly earnings data on Friday, July 31st. The shipping company reported $0.79 earnings per share (EPS) for the quarter, beating 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 in the prior year, the business earned $0.22 EPS.

Analyst Upgrades and Downgrades

TK has been the subject of several analyst reports. Weiss Ratings raised Teekay from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, September 4th. Wall Street Zen upgraded Teekay from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Hedge Funds Weigh In On Teekay

A number of hedge funds have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Teekay during the 2nd quarter valued at approximately $33,000. Transamerica Financial Advisors LLC boosted its holdings in Teekay by 250.8% in the fourth quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock worth $40,000 after purchasing an additional 3,130 shares during the period. Zions Bancorporation National Association UT acquired a new position in Teekay in the fourth quarter worth $43,000. Cubist Systematic Strategies LLC bought a new stake in Teekay during the first quarter valued at $48,000. Finally, Pinnacle Holdings LLC bought a new stake in Teekay during the second quarter valued at $62,000. 46.73% of the stock is currently owned by institutional investors and hedge funds.

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.