Allspring Global Investments Holdings LLC Acquires 40,528 Shares of Teekay Co. (NYSE:TK)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Teekay Co. (NYSE:TK) by 12.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 378,273 shares of the shipping company’s stock after acquiring an additional 40,528 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Teekay were worth $3,480,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Renaissance Technologies LLC grew 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 acquiring an additional 649,900 shares during the last quarter. American Century Companies Inc. grew its position in shares of Teekay by 27.2% in the 2nd quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock valued at $13,871,000 after buying an additional 331,002 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Teekay by 3.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,527,077 shares of the shipping company’s stock valued at $49,579,000 after buying an additional 176,641 shares during the last quarter. Panagora Asset Management Inc. grew its position in shares of Teekay by 74.6% in 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 during the last quarter. Finally, Cubist Systematic Strategies LLC grew its position in shares of Teekay by 26.2% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 358,685 shares of the shipping company’s stock valued at $3,217,000 after buying an additional 74,461 shares during the last quarter. 46.73% of the stock is currently owned by institutional investors.

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 Price Performance

Shares of NYSE:TK opened at $7.64 on Tuesday. The business’s 50-day moving average is $8.59 and its 200-day moving average is $8.49. Teekay Co. has a 1 year low of $6.41 and a 1 year high of $9.95. The company has a market capitalization of $701.20 million, a price-to-earnings ratio of 4.89 and a beta of 0.60.

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

About Teekay

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.