Allspring Global Investments Holdings LLC Acquires 359,376 Shares of Teekay Corporation Ltd. $TK

Key Points

• Allspring Global Investments Holdings LLC raised its stake in Teekay by 25.8% in Q4, buying 359,376 shares to hold 1,753,892 shares (about 1.91% of the company) valued at roughly $15.47 million.
• Teekay (NYSE:TK) has a market capitalization around $1.09 billion and a P/E of 11.24; it reported last-quarter EPS of $0.37 on $243.09 million in revenue, and the stock trades near $12.70 with a 12-month range of $5.65–$13.76.
• Analyst sentiment is lukewarm with a consensus "Hold" rating after a recent downgrade, and institutional investors own about 46.73% of the stock.

Allspring Global Investments Holdings LLC increased its holdings in shares of Teekay Corporation Ltd. (NYSE:TK - Free Report) by 25.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,753,892 shares of the shipping company's stock after purchasing an additional 359,376 shares during the period. Allspring Global Investments Holdings LLC owned approximately 1.91% of Teekay worth $15,469,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TK. State of Alaska Department of Revenue bought a new position in Teekay during the third quarter worth $27,000. Cubist Systematic Strategies LLC bought a new position in Teekay in the first quarter worth approximately $48,000. Tower Research Capital LLC TRC boosted its holdings in Teekay by 194.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company's stock worth $63,000 after acquiring an additional 5,022 shares in the last quarter. Osaic Holdings Inc. grew its stake in Teekay by 1,008.8% in the second quarter. Osaic Holdings Inc. now owns 10,456 shares of the shipping company's stock valued at $86,000 after acquiring an additional 9,513 shares during the period. Finally, Baron Wealth Management LLC bought a new stake in shares of Teekay during the fourth quarter valued at approximately $95,000. 46.73% of the stock is owned by institutional investors and hedge funds.

Teekay Trading Down 0.2%

Shares of Teekay stock opened at $12.70 on Friday. The company has a market capitalization of $1.09 billion, a P/E ratio of 11.24 and a beta of 0.18. The stock has a fifty day simple moving average of $11.57 and a 200 day simple moving average of $10.02. Teekay Corporation Ltd. has a 12-month low of $5.65 and a 12-month high of $13.76.

Teekay (NYSE:TK - Get Free Report) last issued its quarterly earnings data on Friday, March 13th. The shipping company reported $0.37 earnings per share for the quarter. The business had revenue of $243.09 million for the quarter. Teekay had a return on equity of 4.76% and a net margin of 10.33%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Teekay from a "buy" rating to a "hold" rating in a research report on Sunday, March 29th. Weiss Ratings restated 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, According to MarketBeat, Teekay presently 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.

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