American Century Companies Inc. Grows Stake in Teekay Corporation Ltd. $TK

Key Points

• American Century Companies Inc. increased its stake in Teekay Corporation by 5.5%, acquiring an additional 110,811 shares, bringing its total holdings to 2,132,960 shares valued at approximately $14 million.
• Teekay Corporation has seen significant interest from institutional investors, with 46.73% of its stock now owned by such entities, including Bridgeway Capital Management and Allspring Global Investments.
• Teekay's stock has a market capitalization of $739.31 million and has fluctuated between a fifty-two week low of $5.65 and a high of $9.78.

American Century Companies Inc. raised its stake in shares of Teekay Corporation Ltd. (NYSE:TK - Free Report) by 5.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,132,960 shares of the shipping company's stock after purchasing an additional 110,811 shares during the quarter. American Century Companies Inc. owned approximately 2.32% of Teekay worth $14,014,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TK. GAMMA Investing LLC increased its position in Teekay by 381.8% during the 1st quarter. GAMMA Investing LLC now owns 4,139 shares of the shipping company's stock valued at $27,000 after purchasing an additional 3,280 shares during the period. Parallel Advisors LLC increased its position in Teekay by 68.2% during the 1st quarter. Parallel Advisors LLC now owns 7,406 shares of the shipping company's stock valued at $49,000 after purchasing an additional 3,002 shares during the period. New York State Common Retirement Fund increased its position in Teekay by 20.9% during the 1st quarter. New York State Common Retirement Fund now owns 10,425 shares of the shipping company's stock valued at $68,000 after purchasing an additional 1,802 shares during the period. Bayesian Capital Management LP purchased a new position in Teekay during the 4th quarter valued at $73,000. Finally, PharVision Advisers LLC purchased a new position in Teekay during the 4th quarter valued at $75,000. 46.73% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Teekay from a "buy" rating to a "hold" rating in a research report on Monday, May 19th.

Teekay Trading Up 0.8%

Teekay stock traded up $0.07 on Friday, hitting $8.20. 442,760 shares of the stock traded hands, compared to its average volume of 603,383. The firm has a market cap of $752.63 million, a P/E ratio of 5.81 and a beta of 0.49. The business's fifty day simple moving average is $7.80 and its 200 day simple moving average is $7.47. Teekay Corporation Ltd. has a 1 year low of $5.65 and a 1 year high of $9.78.

About Teekay

Teekay Corporation engages in the international crude oil and other marine transportation services worldwide. The company owns and operates crude oil and refined product tankers. It also provides ship-to-ship support services; tanker commercial management operation services; and operational and maintenance marine services.