Denali Advisors LLC Acquires 78,389 Shares of Teekay Corporation Ltd. $TK

Key Points

• Denali Advisors LLC increased its Teekay stake by 38.3% in the fourth quarter, buying 78,389 additional shares and bringing its total holdings to 283,213 shares worth about $2.56 million.
• Other institutional investors also added to or initiated positions in Teekay, and 46.73% of the stock is now owned by hedge funds and other institutions.
• Teekay reported quarterly earnings of $0.37 per share on revenue of $243.09 million, while Wall Street Zen upgraded the stock to buy; however, MarketBeat shows the overall analyst consensus remains Hold.

Denali Advisors LLC raised its holdings in shares of Teekay Corporation Ltd. (NYSE:TK - Free Report) by 38.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 283,213 shares of the shipping company's stock after purchasing an additional 78,389 shares during the quarter. Denali Advisors LLC owned 0.31% of Teekay worth $2,557,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. State of Alaska Department of Revenue purchased a new position in Teekay during the 3rd quarter worth $27,000. CWM LLC boosted its holdings in Teekay by 34.2% during the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company's stock worth $51,000 after acquiring an additional 1,449 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Teekay during the 1st quarter worth $48,000. Tower Research Capital LLC TRC boosted its holdings in Teekay by 194.8% during the 2nd 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 during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Teekay by 1,008.8% during the 2nd quarter. Osaic Holdings Inc. now owns 10,456 shares of the shipping company's stock worth $86,000 after acquiring an additional 9,513 shares during the last quarter. 46.73% of the stock is owned by hedge funds and other institutional investors.

Teekay Stock Performance

Shares of NYSE:TK opened at $14.08 on Friday. The company's 50-day moving average is $12.46 and its 200 day moving average is $10.75. The company has a market capitalization of $1.21 billion, a P/E ratio of 12.46 and a beta of 0.23. Teekay Corporation Ltd. has a fifty-two week low of $7.11 and a fifty-two week high of $14.38.

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

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Teekay from a "hold" rating to a "buy" rating in a report on Saturday. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Teekay currently has an average rating of "Hold".

Teekay Company Profile

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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