Rhumbline Advisers Sells 3,003 Shares of Teekay Co. (NYSE:TK)

Rhumbline Advisers lessened its holdings in Teekay Co. (NYSE:TK) by 2.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 112,957 shares of the shipping company’s stock after selling 3,003 shares during the period. Rhumbline Advisers owned about 0.12% of Teekay worth $1,013,000 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. Hennessy Advisors Inc. bought a new stake in shares of Teekay during the 4th quarter valued at $3,673,000. Dimensional Fund Advisors LP grew its holdings in Teekay by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,084,487 shares of the shipping company’s stock valued at $36,354,000 after purchasing an additional 449,307 shares during the period. Allspring Global Investments Holdings LLC increased its position in Teekay by 210.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 337,745 shares of the shipping company’s stock worth $3,030,000 after buying an additional 228,856 shares in the last quarter. Bell & Brown Wealth Advisors LLC bought a new position in shares of Teekay in the fourth quarter worth about $1,439,000. Finally, Panagora Asset Management Inc. lifted its position in shares of Teekay by 74.6% during the 2nd quarter. Panagora Asset Management Inc. now owns 252,630 shares of the shipping company’s stock valued at $2,266,000 after buying an additional 107,970 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 cut shares of Teekay from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 28th.

Teekay Price Performance

Shares of TK stock opened at $8.85 on Monday. The company has a market capitalization of $804.90 million, a price-to-earnings ratio of 5.46 and a beta of 0.59. The company’s fifty day moving average price is $8.17 and its 200-day moving average price is $8.21. Teekay Co. has a one year low of $5.70 and a one year high of $9.95.

Teekay (NYSE:TK) last announced its quarterly earnings data 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 business had revenue of $326.14 million for the quarter.

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.