Teekay (NYSE:TK) CEO Kenneth Hvid Sells 315,335 Shares

Teekay Corporation Ltd. (NYSE:TK) CEO Kenneth Hvid sold 315,335 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $12.36, for a total value of $3,897,540.60. Following the sale, the chief executive officer directly owned 112,322 shares of the company’s stock, valued at $1,388,299.92. The trade was a 73.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Kenneth Hvid also recently made the following trade(s):

• On Friday, June 12th, Kenneth Hvid sold 6,822 shares of Teekay stock. The stock was sold at an average price of $12.04, for a total value of $82,136.88.

Teekay Trading Up 3.9%

Teekay stock opened at $12.34 on Friday. Teekay Corporation Ltd. has a twelve month low of $7.11 and a twelve month high of $14.38. The stock has a 50 day moving average of $12.72 and a two-hundred day moving average of $11.28. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 8.17 and a beta of 0.19.

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

Teekay Dividend Announcement

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

Institutional Trading of Teekay

Several hedge funds have recently modified their holdings of TK. Cubist Systematic Strategies LLC acquired a new stake in shares of Teekay in the 1st quarter valued at approximately $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of 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 buying an additional 1,404 shares during the period. Millennium Management LLC lifted its holdings in shares of Teekay by 153.8% in 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 during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Teekay in the 1st quarter valued at approximately $267,000. Finally, Jane Street Group LLC increased its stake in Teekay by 82.3% in the 1st quarter. Jane Street Group LLC now owns 160,068 shares of the shipping company’s stock valued at $1,052,000 after purchasing an additional 72,240 shares in the last quarter. 46.73% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TK has been the subject of several recent analyst reports. Weiss Ratings cut Teekay from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. Wall Street Zen cut Teekay from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Teekay Company Profile

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.