Nuveen LLC Invests $3.24 Million in Teekay Corporation Ltd. $TK

Key Points

• Nuveen LLC has acquired a new position in Teekay Corporation Ltd., purchasing 493,480 shares worth approximately $3.24 million, representing about 0.54% of the company.
• Other institutional investors, like Bridgeway Capital Management and Allspring Global Investments, have also increased their stakes in Teekay, indicating growing institutional interest.
• Teekay's stock has a P/E ratio of 5.77 and trades between a one year low of $5.65 and high of $9.78, reflecting its moderate price performance in the market.

Nuveen LLC acquired a new stake in shares of Teekay Corporation Ltd. (NYSE:TK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 493,480 shares of the shipping company's stock, valued at approximately $3,242,000. Nuveen LLC owned about 0.54% of Teekay as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Teekay by 381.8% in the 1st quarter. GAMMA Investing LLC now owns 4,139 shares of the shipping company's stock valued at $27,000 after acquiring an additional 3,280 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Teekay by 68.2% in the 1st quarter. Parallel Advisors LLC now owns 7,406 shares of the shipping company's stock valued at $49,000 after acquiring an additional 3,002 shares during the last quarter. New York State Common Retirement Fund lifted its holdings in shares of Teekay by 20.9% in 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 acquiring an additional 1,802 shares during the last quarter. Bayesian Capital Management LP bought a new position in shares of Teekay in the 4th quarter valued at about $73,000. Finally, PharVision Advisers LLC bought a new position in shares of Teekay in the 4th quarter valued at about $75,000. Institutional investors own 46.73% of the company's stock.

Teekay Stock Performance

NYSE TK traded up $0.07 during trading on Friday, hitting $8.20. The stock had a trading volume of 442,760 shares, compared to its average volume of 621,615. The stock has a market capitalization of $752.63 million, a price-to-earnings ratio of 5.81 and a beta of 0.49. Teekay Corporation Ltd. has a one year low of $5.65 and a one year high of $9.78. The stock has a 50 day simple moving average of $7.80 and a 200 day simple moving average of $7.47.

Analyst Upgrades and Downgrades

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

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.