Rudolph Krediet Sells 41,457 Shares of Teekay (NYSE:TK) Stock

Key Points

• Teekay director Rudolph Krediet sold 41,457 shares at an average price of $11.45, generating approximately $474,683. After the transaction, his direct ownership fell 54.1% to 35,167 shares.
• Teekay reported quarterly earnings of $0.79 per share, beating analysts’ consensus estimate of $0.11, while revenue came in at $379.12 million. The company also paid a special dividend of $1.00 per share.
• Teekay shares recently traded at $11.78, with the company valued at about $1.02 billion. Analysts currently maintain an average “Hold” rating, while institutional investors own 46.73% of the stock.

Teekay Corporation Ltd. (NYSE:TK - Get Free Report) Director Rudolph Krediet sold 41,457 shares of the firm's stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $11.45, for a total transaction of $474,682.65. Following the completion of the transaction, the director directly owned 35,167 shares in the company, valued at approximately $402,662.15. This represents a 54.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rudolph Krediet also recently made the following trade(s):

• On Wednesday, June 17th, Rudolph Krediet sold 63,042 shares of Teekay stock. The stock was sold at an average price of $11.80, for a total transaction of $743,895.60.

Teekay Price Performance

NYSE TK traded up $0.13 during trading hours on Monday, hitting $11.78. The company had a trading volume of 551,036 shares, compared to its average volume of 588,778. The firm's 50 day moving average is $11.36 and its 200 day moving average is $11.74. Teekay Corporation Ltd. has a fifty-two week low of $7.22 and a fifty-two week high of $14.38. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 5.67 and a beta of 0.23.

Teekay (NYSE:TK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The shipping company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.68. Teekay had a return on equity of 8.40% and a net margin of 15.78%.The company had revenue of $379.12 million for the quarter, compared to analysts' expectations of $379.12 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share.

Teekay Announces Dividend

The business also recently announced a special dividend, which was paid on Tuesday, June 2nd. Investors of record on Tuesday, May 26th were issued a dividend of $1.00 per share. The ex-dividend date was Tuesday, May 26th.

Analyst Ratings Changes

A number of research firms have weighed in on TK. Wall Street Zen cut Teekay from a "buy" rating to a "hold" rating in a report on Saturday, May 23rd. Weiss Ratings downgraded shares of Teekay from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, July 17th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Teekay presently has an average rating of "Hold".

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL increased its holdings in Teekay by 191.0% during the 3rd quarter. Tudor Investment Corp ET AL now owns 407,901 shares of the shipping company's stock worth $3,337,000 after purchasing an additional 267,743 shares during the last quarter. Denali Advisors LLC boosted its stake in shares of Teekay by 38.3% during the 4th quarter. Denali Advisors LLC now owns 283,213 shares of the shipping company's stock valued at $2,557,000 after buying an additional 78,389 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Teekay during the 4th quarter valued at approximately $948,000. Allspring Global Investments Holdings LLC grew its position in shares of Teekay by 58.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,783,869 shares of the shipping company's stock worth $33,796,000 after buying an additional 1,029,977 shares in the last quarter. Finally, Versor Investments LP grew its position in shares of Teekay by 177.0% during the fourth quarter. Versor Investments LP now owns 63,700 shares of the shipping company's stock worth $575,000 after buying an additional 40,700 shares in the last quarter. Institutional investors and hedge funds own 46.73% of the company's stock.

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.

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