GSA Capital Partners LLP Acquires 81,192 Shares of Teekay Corporation Ltd. (NYSE:TK)

Key Points

• GSA Capital Partners LLP increased its stake in Teekay Corporation by 150.8% during Q1 2023, acquiring an additional 81,192 shares, bringing its ownership to 135,021 shares valued at $887,000.
• Other institutional investors, including JPMorgan Chase and Allspring Global Investments, also raised their stakes, indicating growing institutional interest in Teekay's stock.
• Teekay's shares were recently downgraded from a "buy" to a "hold" rating by Wall Street Zen, while the company's stock is currently trading at $7.24 with a market cap of approximately $664.92 million.

GSA Capital Partners LLP raised its stake in Teekay Corporation Ltd. (NYSE:TK - Free Report) by 150.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 135,021 shares of the shipping company's stock after buying an additional 81,192 shares during the quarter. GSA Capital Partners LLP owned about 0.15% of Teekay worth $887,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Bell & Brown Wealth Advisors LLC increased its stake in Teekay by 4.1% during the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 199,603 shares of the shipping company's stock worth $1,311,000 after buying an additional 7,825 shares during the period. Pacer Advisors Inc. acquired a new stake in shares of Teekay in the first quarter valued at $4,758,000. Victory Capital Management Inc. purchased a new position in Teekay in the first quarter valued at $1,284,000. MQS Management LLC acquired a new position in Teekay during the 1st quarter worth $85,000. Finally, New York State Common Retirement Fund raised its holdings in Teekay by 20.9% in the first quarter. New York State Common Retirement Fund now owns 10,425 shares of the shipping company's stock valued at $68,000 after acquiring an additional 1,802 shares in the last quarter. Hedge funds and other institutional investors own 46.73% of the company's stock.

Analyst Upgrades and Downgrades

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

Teekay Trading Up 2.2%

Shares of TK traded up $0.17 during mid-day trading on Tuesday, hitting $7.71. 295,585 shares of the company's stock were exchanged, compared to its average volume of 806,762. The firm has a market capitalization of $707.60 million, a P/E ratio of 5.46 and a beta of 0.49. Teekay Corporation Ltd. has a fifty-two week low of $5.65 and a fifty-two week high of $9.78. The business's 50 day moving average is $8.15 and its two-hundred day moving average is $7.39.

Teekay Dividend Announcement

The company also recently declared a -- dividend, which was paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 2nd were paid a dividend of $1.00 per share. The ex-dividend date was Wednesday, July 2nd. Teekay's dividend payout ratio is currently 17.73%.

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.