Teekay (NYSE:TK) Director Simon Heidi Locke Sells 18,119 Shares

Teekay Corporation Ltd. (NYSE:TK) Director Simon Heidi Locke sold 18,119 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $12.37, for a total value of $224,132.03. Following the completion of the transaction, the director directly owned 47,582 shares in the company, valued at approximately $588,589.34. This represents a 27.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Teekay Stock Performance

NYSE:TK opened at $12.35 on Tuesday. Teekay Corporation Ltd. has a 52 week low of $7.11 and a 52 week high of $14.38. The firm’s 50-day simple moving average is $12.64 and its 200 day simple moving average is $11.39. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 8.18 and a beta of 0.19.

Teekay (NYSE:TK) last issued its quarterly earnings results on Wednesday, May 13th. The shipping company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.44. The business had revenue of $285.82 million during the quarter, compared to analysts’ expectations of $285.82 million. Teekay had a return on equity of 6.36% and a net margin of 13.03%.

Teekay Announces Dividend

The company also recently declared a special dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were issued a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, May 26th.

Analysts Set New Price Targets

TK has been the subject of a number of research reports. Weiss Ratings cut shares of Teekay from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, June 8th. Wall Street Zen lowered Teekay from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Teekay currently has an average rating of “Hold”.

Hedge Funds Weigh In On Teekay

A number of large investors have recently modified their holdings of TK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Teekay by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock valued at $213,000 after acquiring an additional 1,404 shares in the last quarter. CWM LLC boosted its holdings in shares of Teekay by 34.2% in the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock worth $51,000 after buying an additional 1,449 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Teekay by 3.8% during the 3rd quarter. Fisher Asset Management LLC now owns 52,500 shares of the shipping company’s stock valued at $429,000 after acquiring an additional 1,900 shares during the period. Ritholtz Wealth Management grew its holdings in Teekay by 1.4% during the fourth quarter. Ritholtz Wealth Management now owns 154,498 shares of the shipping company’s stock valued at $1,395,000 after purchasing an additional 2,177 shares during the period. Finally, Diversified Trust Co grew its stake in shares of Teekay by 8.9% during the 1st quarter. Diversified Trust Co now owns 28,128 shares of the shipping company’s stock worth $343,000 after acquiring an additional 2,306 shares during the period. 46.73% of the stock is currently owned by institutional investors.

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.