Teekay (NYSE:TK) Reaches New 12-Month High – Here’s Why

Teekay Corporation Ltd. (NYSE:TK)’s stock price reached a new 52-week high on Monday . The company traded as high as $9.83 and last traded at $9.7410, with a volume of 533936 shares traded. The stock had previously closed at $9.75.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Teekay in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Teekay Stock Performance

The firm has a market capitalization of $911.01 million, a PE ratio of 7.04 and a beta of 0.35. The firm has a fifty day moving average of $8.69 and a 200 day moving average of $8.25.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Teekay by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock worth $213,000 after purchasing an additional 1,404 shares during the last quarter. Concurrent Investment Advisors LLC increased its holdings in Teekay by 3.9% in the second quarter. Concurrent Investment Advisors LLC now owns 38,003 shares of the shipping company’s stock valued at $314,000 after buying an additional 1,411 shares during the last quarter. Martingale Asset Management L P raised its stake in Teekay by 0.6% during the first quarter. Martingale Asset Management L P now owns 264,626 shares of the shipping company’s stock valued at $1,739,000 after buying an additional 1,519 shares in the last quarter. New York State Common Retirement Fund raised its stake in Teekay by 20.9% during the first quarter. New York State Common Retirement Fund now owns 10,425 shares of the shipping company’s stock valued at $68,000 after buying an additional 1,802 shares in the last quarter. Finally, Bell & Brown Wealth Advisors LLC lifted its holdings in Teekay by 0.9% during the 3rd quarter. Bell & Brown Wealth Advisors LLC now owns 202,552 shares of the shipping company’s stock worth $1,657,000 after buying an additional 1,899 shares during the last quarter. 46.73% of the stock is currently owned by hedge funds and other institutional investors.

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.