Teekay (NYSE:TK) CFO Brody Speers Sells 2,350 Shares of Stock

Teekay Corporation Ltd. (NYSE:TK) CFO Brody Speers sold 2,350 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $13.10, for a total transaction of $30,785.00. Following the transaction, the chief financial officer owned 1,014 shares of the company’s stock, valued at $13,283.40. The trade was a 69.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Brody Speers also recently made the following trade(s):

• On Thursday, June 11th, Brody Speers sold 5,500 shares of Teekay stock. The shares were sold at an average price of $12.15, for a total value of $66,825.00.

Teekay Stock Up 1.4%

NYSE:TK opened at $13.16 on Thursday. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 6.33 and a beta of 0.23. Teekay Corporation Ltd. has a twelve month low of $7.51 and a twelve month high of $14.38. The stock’s 50 day moving average price is $11.37 and its two-hundred day moving average price is $11.93.

Teekay (NYSE:TK) last posted its quarterly 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 company earned $0.22 EPS.

Institutional Trading of Teekay

A number of hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in Teekay in the 1st quarter worth about $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Teekay by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock worth $213,000 after buying an additional 1,404 shares during the period. Millennium Management LLC increased its stake in shares of Teekay by 153.8% in the first quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock valued at $7,807,000 after buying an additional 720,093 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Teekay in the first quarter valued at approximately $267,000. Finally, Jane Street Group LLC raised its holdings in Teekay by 82.3% during the 1st quarter. Jane Street Group LLC now owns 160,068 shares of the shipping company’s stock worth $1,052,000 after purchasing an additional 72,240 shares during the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.

Analyst Ratings Changes

TK has been the topic of several research reports. Weiss Ratings raised Teekay from a “hold (c-)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. Wall Street Zen cut shares of Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

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.