Teekay’s (TK) Sell (D+) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their sell (d+) rating on shares of Teekay (NYSE:TK) in a report published on Friday morning,Weiss Ratings reports.

Teekay Trading Up 0.1%

NYSE:TK opened at $9.10 on Friday. Teekay has a 1-year low of $5.65 and a 1-year high of $9.35. The firm has a fifty day simple moving average of $8.29 and a 200 day simple moving average of $7.98. The stock has a market capitalization of $835.89 million, a PE ratio of 6.46 and a beta of 0.42.

Institutional Investors Weigh In On Teekay

Several hedge funds and other institutional investors have recently made changes to their positions in TK. GAMMA Investing LLC grew its holdings in shares of Teekay by 381.8% during the 1st quarter. GAMMA Investing LLC now owns 4,139 shares of the shipping company’s stock valued at $27,000 after purchasing an additional 3,280 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Teekay in the third quarter valued at approximately $27,000. Cubist Systematic Strategies LLC bought a new stake in Teekay in the first quarter valued at approximately $48,000. Virtus Advisers LLC bought a new stake in Teekay in the first quarter valued at approximately $59,000. Finally, Tower Research Capital LLC TRC boosted its holdings in Teekay by 194.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock valued at $63,000 after acquiring an additional 5,022 shares during the last quarter. 46.73% of the stock is owned by institutional investors.

Teekay Company Profile

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.