Vontobel Holding Ltd. Trims Stock Position in Teekay Co. (NYSE:TK)

Vontobel Holding Ltd. decreased its holdings in Teekay Co. (NYSE:TK) by 8.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,883 shares of the shipping company’s stock after selling 2,642 shares during the quarter. Vontobel Holding Ltd.’s holdings in Teekay were worth $257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in Teekay by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,527,077 shares of the shipping company’s stock worth $49,579,000 after buying an additional 176,641 shares in the last quarter. Sei Investments Co. grew its stake in shares of Teekay by 13.4% during the 1st quarter. Sei Investments Co. now owns 537,009 shares of the shipping company’s stock valued at $3,909,000 after acquiring an additional 63,504 shares during the period. Russell Investments Group Ltd. increased its holdings in Teekay by 44.2% in the 1st quarter. Russell Investments Group Ltd. now owns 185,818 shares of the shipping company’s stock worth $1,353,000 after acquiring an additional 56,998 shares in the last quarter. American Century Companies Inc. raised its stake in Teekay by 27.2% during the 2nd quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock worth $13,871,000 after acquiring an additional 331,002 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in Teekay by 47.9% during the second quarter. Cetera Investment Advisers now owns 176,707 shares of the shipping company’s stock valued at $1,585,000 after purchasing an additional 57,242 shares in the last quarter. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Teekay from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 28th.

Teekay Stock Down 4.1 %

NYSE:TK opened at $7.89 on Thursday. The stock has a market cap of $717.13 million, a PE ratio of 4.87 and a beta of 0.60. The business’s 50-day simple moving average is $8.60 and its two-hundred day simple moving average is $8.47. Teekay Co. has a 52 week low of $6.41 and a 52 week high of $9.95.

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

Teekay Company 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.