Sanctuary Advisors LLC Makes New $875,000 Investment in Teekay Corporation Ltd. $TK

Sanctuary Advisors LLC purchased a new stake in Teekay Corporation Ltd. (NYSE:TK) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 71,664 shares of the shipping company’s stock, valued at approximately $875,000.

Other institutional investors have also recently made changes to their positions in the company. Transamerica Financial Advisors LLC boosted its position in shares of Teekay by 250.8% during the 4th quarter. Transamerica Financial Advisors LLC now owns 4,378 shares of the shipping company’s stock worth $40,000 after purchasing an additional 3,130 shares in the last quarter. Zions Bancorporation National Association UT bought a new stake in Teekay in the 4th quarter valued at about $43,000. Cubist Systematic Strategies LLC bought a new stake in Teekay in the 1st quarter valued at about $48,000. CWM LLC raised its stake in Teekay by 34.2% during the 4th quarter. CWM LLC now owns 5,684 shares of the shipping company’s stock worth $51,000 after buying an additional 1,449 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Teekay by 194.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,600 shares of the shipping company’s stock worth $63,000 after acquiring an additional 5,022 shares in the last quarter. Institutional investors and hedge funds own 46.73% of the company’s stock.

Teekay Stock Performance

NYSE TK opened at $11.20 on Friday. Teekay Corporation Ltd. has a 52-week low of $7.11 and a 52-week high of $14.38. The company has a 50-day simple moving average of $11.58 and a 200 day simple moving average of $11.65. The company has a market capitalization of $971.68 million, a PE ratio of 7.42 and a beta of 0.22.

Teekay (NYSE:TK) last announced its quarterly earnings data on Wednesday, May 13th. The shipping company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.11 by $0.44. The business had revenue of $285.82 million for the quarter, compared to analyst estimates of $285.82 million. Teekay had a net margin of 13.03% and a return on equity of 6.36%.

Teekay Dividend Announcement

The business also recently declared a special dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 26th were paid a dividend of $1.00 per share. The ex-dividend date was Tuesday, May 26th.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen cut Teekay from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings downgraded Teekay from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 17th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Insider Activity at Teekay

In other Teekay news, CFO Brody Speers sold 5,500 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $12.15, for a total transaction of $66,825.00. Following the completion of the transaction, the chief financial officer directly owned 3,364 shares of the company’s stock, valued at approximately $40,872.60. This represents a 62.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rudolph Krediet sold 63,042 shares of the firm’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $11.80, for a total value of $743,895.60. Following the completion of the sale, the director directly owned 35,167 shares of the company’s stock, valued at $414,970.60. This represents a 64.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 408,818 shares of company stock worth $5,014,530. Company insiders own 2.38% of the company’s stock.

About Teekay

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.