Teekay (NYSE:TK) Sets New 1-Year High – Here’s Why

Teekay Corporation Ltd. (NYSE:TK) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $11.49 and last traded at $11.35, with a volume of 12324 shares trading hands. The stock had previously closed at $11.42.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Teekay in a report on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold”.

Teekay Trading Up 0.1%

The business has a 50-day moving average price of $9.71 and a 200-day moving average price of $9.05. The stock has a market cap of $1.05 billion, a PE ratio of 8.10 and a beta of 0.20.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TK. Cubist Systematic Strategies LLC purchased a new position in shares of Teekay in the first quarter worth about $48,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 during the last quarter. Millennium Management LLC lifted its stake in Teekay by 153.8% in the 1st quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock worth $7,807,000 after purchasing an additional 720,093 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Teekay during the 1st quarter worth approximately $267,000. Finally, Jane Street Group LLC grew its position in shares of Teekay by 82.3% in the first 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. Institutional investors and hedge funds own 46.73% of the company’s stock.

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.