U S Global Investors Inc. Buys Shares of 40,156 Teekay Corporation Ltd. $TK

Key Points

• U S Global Investors Inc. has purchased 40,156 shares of Teekay Corporation Ltd. valued at approximately $331,000, indicating significant investment interest in the company.
• Several hedge funds have also increased their positions in Teekay, with institutional investors owning 46.73% of the company's stock, showcasing growing confidence among major shareholders.
• Teekay's stock has a current sell rating from analysts and opened at $7.97, with a year-high of $9.39 and a low of $5.65 within the last fifty-two weeks.

U S Global Investors Inc. purchased a new position in shares of Teekay Corporation Ltd. (NYSE:TK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 40,156 shares of the shipping company's stock, valued at approximately $331,000.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Teekay by 381.8% during the first quarter. GAMMA Investing LLC now owns 4,139 shares of the shipping company's stock worth $27,000 after purchasing an additional 3,280 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Teekay during the first quarter worth about $48,000. Virtus Advisers LLC acquired a new stake in shares of Teekay during the first quarter worth about $59,000. New York State Common Retirement Fund lifted its position in shares of Teekay by 20.9% during the first quarter. New York State Common Retirement Fund now owns 10,425 shares of the shipping company's stock worth $68,000 after purchasing an additional 1,802 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of Teekay during the first quarter worth about $77,000. Institutional investors and hedge funds own 46.73% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a "sell (d+)" rating on shares of Teekay in a research report on Wednesday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of "Sell".

Teekay Stock Down 1.5%

Shares of NYSE:TK opened at $7.97 on Friday. The firm's 50 day moving average price is $8.12 and its 200 day moving average price is $7.82. The stock has a market cap of $731.96 million, a price-to-earnings ratio of 5.65 and a beta of 0.42. Teekay Corporation Ltd. has a fifty-two week low of $5.65 and a fifty-two week high of $9.39.

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.

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