Quinn Opportunity Partners LLC bought a new position in shares of Teekay Co. (NYSE:TK) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 126,912 shares of the shipping company’s stock, valued at approximately $497,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Teekay by 83.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 11,000 shares of the shipping company’s stock valued at $37,000 after buying an additional 5,000 shares during the period. Norges Bank acquired a new position in shares of Teekay in the 4th quarter valued at $38,000. Wiley BROS. Aintree Capital LLC acquired a new position in shares of Teekay in the 4th quarter valued at $43,000. BNP Paribas Arbitrage SA grew its holdings in shares of Teekay by 478.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 14,301 shares of the shipping company’s stock valued at $56,000 after buying an additional 11,829 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of Teekay in the 1st quarter valued at $91,000. 22.57% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on TK. ValuEngine lowered shares of Teekay from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Zacks Investment Research raised shares of Teekay from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Teekay currently has an average rating of “Hold” and an average target price of $6.81.
Shares of TK stock opened at $4.39 on Friday. Teekay Co. has a 12-month low of $2.92 and a 12-month high of $8.75. The firm has a market capitalization of $441.99 million, a PE ratio of -8.28 and a beta of 1.43. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.31 and a quick ratio of 1.31.
Teekay (NYSE:TK) last announced its quarterly earnings results on Thursday, February 21st. The shipping company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.07. Teekay had a negative net margin of 4.64% and a negative return on equity of 1.82%. The company had revenue of $374.30 million during the quarter. During the same period last year, the firm earned ($0.11) EPS. Teekay’s quarterly revenue was up 14.6% on a year-over-year basis. Equities analysts expect that Teekay Co. will post 0.35 EPS for the current fiscal year.
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Teekay Company Profile
Teekay Corporation provides crude oil and gas marine transportation; offshore oil production; and storage and offloading services in Bermuda and internationally. It operates shuttle tankers; floating production, storage, and offloading units; floating storage and offloading units; HiLoad dynamic positioning units; long-distance towing and offshore installation vessels; and conventional tankers.
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