American Century Companies Inc. Boosts Holdings in Teekay Corporation Ltd. $TK

American Century Companies Inc. raised its position in Teekay Corporation Ltd. (NYSE:TK) by 5.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,254,112 shares of the shipping company’s stock after acquiring an additional 121,152 shares during the period. American Century Companies Inc.’s holdings in Teekay were worth $18,596,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in shares of Teekay by 130.4% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,983,752 shares of the shipping company’s stock valued at $16,366,000 after purchasing an additional 1,122,843 shares during the last quarter. Millennium Management LLC increased its position in Teekay by 153.8% during the 1st 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 in the last quarter. Nuveen LLC purchased a new stake in Teekay in the first quarter valued at about $3,242,000. Allspring Global Investments Holdings LLC raised its stake in Teekay by 19.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,022,986 shares of the shipping company’s stock valued at $8,470,000 after buying an additional 164,561 shares during the last quarter. Finally, Strs Ohio acquired a new stake in Teekay in the first quarter worth about $511,000. 46.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Teekay Price Performance

NYSE:TK opened at $9.48 on Wednesday. The company has a 50 day moving average price of $9.11 and a 200-day moving average price of $8.48. Teekay Corporation Ltd. has a 1-year low of $5.65 and a 1-year high of $10.60. The firm has a market cap of $870.15 million, a price-to-earnings ratio of 6.72 and a beta of 0.14.

Teekay 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.