27,300 Shares in Teekay Co. (NYSE:TK) Acquired by Bailard Inc.

Bailard Inc. acquired a new position in Teekay Co. (NYSE:TK) during the second quarter, Holdings Channel reports. The institutional investor acquired 27,300 shares of the shipping company’s stock, valued at approximately $245,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in Teekay by 66.5% during the fourth quarter. Russell Investments Group Ltd. now owns 128,820 shares of the shipping company’s stock worth $923,000 after purchasing an additional 51,441 shares during the period. Naviter Wealth LLC bought a new stake in Teekay during the fourth quarter worth approximately $89,000. Victory Capital Management Inc. boosted its position in Teekay by 21.1% during the fourth quarter. Victory Capital Management Inc. now owns 170,492 shares of the shipping company’s stock worth $1,219,000 after purchasing an additional 29,660 shares during the period. Los Angeles Capital Management LLC boosted its position in Teekay by 6.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 288,660 shares of the shipping company’s stock worth $2,064,000 after purchasing an additional 17,550 shares during the period. Finally, Summit Global Investments bought a new stake in Teekay during the fourth quarter worth approximately $623,000. Institutional investors and hedge funds own 46.73% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Teekay from a “strong-buy” rating to a “buy” rating in a research report on Wednesday.

Teekay Trading Up 1.2 %

Shares of Teekay stock opened at $8.21 on Wednesday. The company’s fifty day simple moving average is $8.28 and its 200-day simple moving average is $8.13. The company has a market cap of $746.70 million, a price-to-earnings ratio of 5.07 and a beta of 0.64. Teekay Co. has a 1 year low of $5.70 and a 1 year high of $9.95.

Teekay (NYSE:TK) last announced its quarterly earnings data on Thursday, August 1st. The shipping company reported $0.35 earnings per share (EPS) for the quarter. The business had revenue of $326.14 million for the quarter. Teekay had a net margin of 11.18% and a return on equity of 7.03%.

Teekay Profile

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.