Teekay (NYSE:TK) Director Simon Heidi Locke Sells 11,585 Shares of Stock

Key Points

• Teekay director Heidi Simon sold 11,585 shares at an average price of $14.08, generating $163,116.80 and reducing her direct ownership by 20.12% to 46,001 shares.
• Teekay shares rose 2.0% to $14.38, near the company’s 52-week high of $14.39. The stock has a $1.25 billion market capitalization and trades at a price-to-earnings ratio of 6.91.
• Teekay reported quarterly EPS of $0.79, substantially exceeding analysts’ $0.11 estimate, while research firms recently upgraded the stock to “buy.”

Teekay Corporation Ltd. (NYSE:TK - Get Free Report) Director Heidi Simon sold 11,585 shares of Teekay stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $14.08, for a total value of $163,116.80. Following the sale, the director directly owned 46,001 shares of the company's stock, valued at approximately $647,694.08. The trade was a 20.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Simon Heidi Locke also recently made the following trade(s):

• On Friday, August 21st, Heidi Simon sold 1,000 shares of Teekay stock. The shares were sold at an average price of $13.64, for a total value of $13,640.00.
• On Thursday, August 20th, Heidi Simon sold 485 shares of Teekay stock. The stock was sold at an average price of $13.24, for a total value of $6,421.40.
• On Wednesday, August 19th, Heidi Simon sold 96 shares of Teekay stock. The stock was sold at an average price of $13.19, for a total value of $1,266.24.
• On Monday, June 22nd, Heidi Simon sold 18,119 shares of Teekay stock. The stock was sold at an average price of $12.37, for a total value of $224,132.03.

Teekay Stock Up 2.0%

Shares of Teekay stock traded up $0.28 during trading on Friday, reaching $14.38. The company's stock had a trading volume of 626,945 shares, compared to its average volume of 580,060. The business's 50-day moving average price is $11.95 and its 200-day moving average price is $12.19. Teekay Corporation Ltd. has a 52 week low of $7.80 and a 52 week high of $14.39. The firm has a market cap of $1.25 billion, a PE ratio of 6.91 and a beta of 0.25.

Teekay (NYSE:TK - Get Free Report) last released its quarterly earnings results on Friday, July 31st. The shipping company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.68. Teekay had a net margin of 15.78% and a return on equity of 7.91%. During the same quarter last year, the business earned $0.22 EPS.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TK shares. Wall Street Zen upgraded Teekay from a "hold" rating to a "buy" rating in a research note on Saturday, August 22nd. Weiss Ratings raised Teekay from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, September 4th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Teekay has an average rating of "Buy".

Institutional Investors Weigh In On Teekay

A number of large investors have recently bought and sold shares of TK. Public Employees Retirement System of Ohio bought a new position in Teekay in the 2nd quarter valued at about $33,000. Transamerica Financial Advisors LLC lifted its holdings in shares of Teekay by 250.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company's stock worth $40,000 after acquiring an additional 3,130 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Teekay during the 4th quarter worth approximately $43,000. Pinnacle Holdings LLC acquired a new stake in shares of Teekay during the 2nd quarter worth approximately $62,000. Finally, Cubist Systematic Strategies LLC bought a new position in Teekay in the first quarter valued at approximately $48,000. 46.73% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.