Teekay Corporation Ltd. $TK Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its Teekay (NYSE:TK) holding by 6.5% in Q3, buying 147,009 shares to own 2,401,121 shares (about 2.61%) valued at roughly $19.64 million.
• Other institutions also added or initiated positions and overall institutional ownership is about 46.73%, showing significant investor interest in the company.
• Teekay has a consensus Hold rating (Weiss Ratings reaffirmed hold c-); the stock has a market cap of ~$1.15B, a P/E of 11.12, last quarter EPS of $0.40, and a 1‑year range of $5.65–$13.76.

American Century Companies Inc. lifted its position in shares of Teekay Corporation Ltd. (NYSE:TK - Free Report) by 6.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,401,121 shares of the shipping company's stock after buying an additional 147,009 shares during the quarter. American Century Companies Inc. owned approximately 2.61% of Teekay worth $19,641,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TK. State of Alaska Department of Revenue acquired a new position in Teekay in the 3rd quarter valued at $27,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Teekay during the first quarter worth $48,000. Tower Research Capital LLC TRC boosted its position in shares of Teekay by 194.8% in the second 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. Osaic Holdings Inc. boosted its position in shares of Teekay by 1,008.8% in the second 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. Finally, Bayesian Capital Management LP acquired a new position in Teekay during the second quarter worth approximately $91,000. Institutional investors and hedge funds own 46.73% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Teekay in a research note on Monday, December 29th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of "Hold".

Teekay Stock Performance

Shares of NYSE:TK opened at $12.56 on Tuesday. The stock has a 50-day simple moving average of $10.66 and a 200-day simple moving average of $9.56. The stock has a market capitalization of $1.15 billion, a P/E ratio of 11.12 and a beta of 0.12. Teekay Corporation Ltd. has a 1 year low of $5.65 and a 1 year high of $13.76.

Teekay (NYSE:TK - Get Free Report) last posted its quarterly earnings results on Wednesday, February 18th. The shipping company reported $0.40 EPS for the quarter. Teekay had a net margin of 10.33% and a return on equity of 5.02%.

Teekay 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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