American Century Companies Inc. Buys 110,811 Shares of 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. lifted its stake in shares of Teekay Corporation Ltd. (NYSE:TK - Free Report) by 5.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 2.32% of Teekay worth $14,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bridgeway Capital Management LLC grew its holdings in shares of Teekay by 1.9% during the 4th quarter. Bridgeway Capital Management LLC now owns 1,877,818 shares of the shipping company's stock valued at $13,013,000 after purchasing an additional 34,681 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Teekay by 80.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 858,425 shares of the shipping company's stock valued at $5,657,000 after purchasing an additional 383,997 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of Teekay during the 1st quarter valued at approximately $4,758,000. Nuveen LLC bought a new stake in shares of Teekay during the 1st quarter valued at approximately $3,242,000. Finally, Millennium Management LLC bought a new stake in shares of Teekay during the 4th quarter valued at approximately $3,245,000. 46.73% of the stock is owned by institutional investors.

Teekay Price Performance

TK opened at $8.05 on Tuesday. Teekay Corporation Ltd. has a fifty-two week low of $5.65 and a fifty-two week high of $9.78. The firm has a market capitalization of $739.31 million, a price-to-earnings ratio of 5.71 and a beta of 0.49. The company's 50 day moving average price is $7.88 and its two-hundred day moving average price is $7.45.

Analyst Upgrades and Downgrades

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

Teekay Company Profile

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.

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