Simon Heidi Locke Sells 1,000 Shares of Teekay (NYSE:TK) Stock

Key Points

• Director Simon Heidi Locke sold 1,000 Teekay shares at an average price of $13.64, receiving $13,640. Following the sale, Locke directly owned 46,001 shares, a 2.13% reduction in holdings.
• Locke also sold 485 shares on August 20, 96 shares on August 19, and 18,119 shares in June, representing a broader pattern of insider selling.
• Teekay shares rose 0.2% to $13.20, while the company reported quarterly EPS of $0.79—well above the $0.11 consensus estimate. The stock has a consensus “Buy” rating, and institutional investors own 46.73% of shares.

Teekay Corporation Ltd. (NYSE:TK - Get Free Report) Director Simon Heidi Locke sold 1,000 shares of Teekay stock in a transaction on Friday, August 21st. The stock was sold at an average price of $13.64, for a total transaction of $13,640.00. Following the completion of the transaction, the director directly owned 46,001 shares of the company's stock, valued at $627,453.64. The trade was a 2.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Thursday, August 20th, Simon Heidi Locke sold 485 shares of Teekay stock. The shares were sold at an average price of $13.24, for a total transaction of $6,421.40.
• On Wednesday, August 19th, Simon Heidi Locke 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, Simon Heidi Locke 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 0.2%

NYSE TK traded up $0.02 during trading hours on Friday, hitting $13.20. 867,196 shares of the company were exchanged, compared to its average volume of 584,354. Teekay Corporation Ltd. has a 52 week low of $7.80 and a 52 week high of $14.38. The stock has a 50-day moving average price of $11.39 and a 200 day moving average price of $11.95. The stock has a market cap of $1.15 billion, a PE ratio of 6.35 and a beta of 0.23.

Teekay (NYSE:TK - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The shipping company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.68. Teekay had a return on equity of 7.91% and a net margin of 15.78%.During the same period last year, the business posted $0.22 earnings per share.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio bought a new position in shares of Teekay during the second quarter valued at approximately $33,000. Transamerica Financial Advisors LLC increased its position in shares of Teekay by 250.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company's stock valued at $40,000 after acquiring an additional 3,130 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of Teekay in the 4th quarter valued at $43,000. Cubist Systematic Strategies LLC purchased a new position in Teekay in the 1st quarter worth $48,000. Finally, CWM LLC raised its stake in Teekay by 34.2% in the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company's stock worth $51,000 after acquiring an additional 1,449 shares during the last quarter. 46.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Teekay from a "hold (c-)" rating to a "buy (b-)" rating in a research note on Monday, August 3rd. Wall Street Zen downgraded shares of Teekay from a "buy" rating to a "hold" rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Teekay has a consensus rating of "Buy".

About Teekay

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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