Exchange Traded Concepts LLC Sells 3,886 Shares of Teekay Co. (NYSE:TK)

Exchange Traded Concepts LLC decreased its position in shares of Teekay Co. (NYSE:TK) by 10.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 34,301 shares of the shipping company’s stock after selling 3,886 shares during the period. Exchange Traded Concepts LLC’s holdings in Teekay were worth $316,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TK. Dimensional Fund Advisors LP boosted its stake in shares of Teekay by 3.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,527,077 shares of the shipping company’s stock valued at $49,579,000 after purchasing an additional 176,641 shares in the last quarter. Renaissance Technologies LLC boosted its position in Teekay by 19.2% during the 2nd quarter. Renaissance Technologies LLC now owns 4,026,075 shares of the shipping company’s stock worth $36,114,000 after buying an additional 649,900 shares during the period. Acadian Asset Management LLC increased its position in Teekay by 2.9% in the 2nd quarter. Acadian Asset Management LLC now owns 1,763,197 shares of the shipping company’s stock valued at $15,808,000 after acquiring an additional 50,077 shares during the period. American Century Companies Inc. raised its stake in shares of Teekay by 27.2% during the second quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock valued at $13,871,000 after acquiring an additional 331,002 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Teekay by 3.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 691,897 shares of the shipping company’s stock worth $5,037,000 after purchasing an additional 21,075 shares during the period. Institutional investors own 46.73% of the company’s stock.

Teekay Price Performance

Teekay stock opened at $8.54 on Friday. The stock’s 50 day moving average is $8.56 and its 200 day moving average is $8.46. Teekay Co. has a one year low of $6.41 and a one year high of $9.95. The firm has a market cap of $776.70 million, a P/E ratio of 5.27 and a beta of 0.60.

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

Analyst Ratings Changes

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

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.