Insider Selling: Teekay (NYSE:TK) CEO Sells $82,136.88 in Stock

Teekay Corporation Ltd. (NYSE:TK) CEO Kenneth Hvid sold 6,822 shares of Teekay stock in a transaction on Friday, June 12th. The shares were sold at an average price of $12.04, for a total value of $82,136.88. Following the transaction, the chief executive officer owned 105,500 shares in the company, valued at approximately $1,270,220. This trade represents a 6.07% decrease in their ownership of the stock. The sale 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 Thursday, June 11th, Kenneth Hvid sold 315,335 shares of Teekay stock. The shares were sold at an average price of $12.36, for a total value of $3,897,540.60.

Teekay Stock Performance

Shares of TK stock opened at $12.34 on Monday. Teekay Corporation Ltd. has a 1 year low of $7.11 and a 1 year high of $14.38. The stock has a market cap of $1.07 billion, a PE ratio of 8.17 and a beta of 0.19. The business’s fifty day moving average is $12.72 and its 200-day moving average is $11.29.

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. Teekay had a return on equity of 6.36% and a net margin of 13.03%.The company had revenue of $285.82 million for the quarter, compared to analysts’ expectations of $285.82 million.

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 given a dividend of $1.00 per share. The ex-dividend date was Tuesday, May 26th.

Institutional Trading of Teekay

A number of institutional investors have recently bought and sold shares of TK. Mercuria Capital Strategies LLC acquired a new stake in Teekay during the fourth quarter valued at $11,091,000. Allspring Global Investments Holdings LLC boosted its position in Teekay by 58.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,783,869 shares of the shipping company’s stock valued at $33,796,000 after purchasing an additional 1,029,977 shares during the last quarter. Millennium Management LLC boosted its position in Teekay by 153.8% during the first quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock valued at $7,807,000 after purchasing an additional 720,093 shares during the last quarter. O Shaughnessy Asset Management LLC acquired a new stake in Teekay during the fourth quarter valued at $4,066,000. Finally, HRT Financial LP acquired a new stake in shares of Teekay in the fourth quarter worth about $2,996,000. Institutional investors and hedge funds own 46.73% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.