Teekay (NYSE:TK) CFO Sells 2,350 Shares of Stock

Key Points

• Teekay CFO Brody Speers sold 2,350 shares at an average price of $13.10, totaling $30,785. Following the sale, he owned 1,014 shares, a 69.86% reduction in his position.
• Teekay shares rose 1.4% to $13.16, while the company reported quarterly EPS of $0.79, significantly exceeding the $0.11 consensus estimate.
• MarketBeat data shows a consensus “Buy” rating for Teekay, despite mixed analyst actions; institutional investors own approximately 46.73% of the company.

Teekay Corporation Ltd. (NYSE:TK - Get Free Report) CFO Brody Speers sold 2,350 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $13.10, for a total value of $30,785.00. Following the completion of the transaction, the chief financial officer owned 1,014 shares in the company, valued at approximately $13,283.40. The trade was a 69.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Brody Speers also recently made the following trade(s):

• On Thursday, June 11th, Brody Speers sold 5,500 shares of Teekay stock. The stock was sold at an average price of $12.15, for a total value of $66,825.00.

Teekay Trading Up 1.4%

Shares of TK traded up $0.19 during trading hours on Wednesday, reaching $13.16. The stock had a trading volume of 667,343 shares, compared to its average volume of 583,482. The firm has a 50-day simple moving average of $11.34 and a 200 day simple moving average of $11.91. Teekay Corporation Ltd. has a 12 month low of $7.51 and a 12 month high of $14.38. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 6.33 and a beta of 0.23.

Teekay (NYSE:TK - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The shipping company reported $0.79 earnings per share for the quarter, topping the consensus estimate 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 in the prior year, the business earned $0.22 EPS.

Analysts Set New Price Targets

A number of research firms have issued reports on TK. Weiss Ratings upgraded Teekay from a "hold (c-)" rating to a "buy (b-)" rating in a research note on Monday, August 3rd. Wall Street Zen downgraded Teekay from a "buy" rating to a "hold" rating in a research note on Saturday, May 23rd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Buy".

Hedge Funds Weigh In On Teekay

Hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new position in shares of Teekay in the second quarter valued at approximately $33,000. Transamerica Financial Advisors LLC lifted its holdings in Teekay by 250.8% during the fourth 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 purchased a new position in Teekay in the fourth quarter worth $43,000. CWM LLC boosted its position in Teekay by 34.2% in the fourth quarter. CWM LLC now owns 5,684 shares of the shipping company's stock worth $51,000 after purchasing an additional 1,449 shares during the last quarter. Finally, Pinnacle Holdings LLC bought a new position in Teekay in the 2nd quarter valued at $62,000. Institutional investors own 46.73% of the company's stock.

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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