Concurrent Investment Advisors LLC Buys 18,452 Shares of Teekay Corporation Ltd. (NYSE:TK)

Concurrent Investment Advisors LLC increased its stake in shares of Teekay Corporation Ltd. (NYSE:TK) by 101.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,592 shares of the shipping company’s stock after acquiring an additional 18,452 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Teekay were worth $240,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in Teekay by 9.9% in the 4th quarter. American Century Companies Inc. now owns 2,022,149 shares of the shipping company’s stock valued at $14,013,000 after buying an additional 181,474 shares during the period. Bridgeway Capital Management LLC increased its holdings in Teekay by 1.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 1,877,818 shares of the shipping company’s stock valued at $13,013,000 after buying an additional 34,681 shares during the period. JPMorgan Chase & Co. increased its holdings in Teekay by 47.9% in the 4th quarter. JPMorgan Chase & Co. now owns 1,043,479 shares of the shipping company’s stock valued at $7,231,000 after buying an additional 338,105 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Teekay by 80.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 858,425 shares of the shipping company’s stock valued at $5,657,000 after buying an additional 383,997 shares during the period. Finally, Millennium Management LLC bought a new stake in Teekay in the 4th quarter valued at $3,245,000. Institutional investors own 46.73% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Teekay from a “buy” rating to a “hold” rating in a report on Monday, May 19th.

Teekay Stock Performance

Shares of NYSE:TK opened at $7.73 on Friday. Teekay Corporation Ltd. has a 52 week low of $5.65 and a 52 week high of $9.78. The company’s fifty day moving average is $8.34 and its 200-day moving average is $7.35. The company has a market capitalization of $710.29 million, a PE ratio of 5.49 and a beta of 0.47.

Teekay Dividend Announcement

The business also recently declared a — dividend, which will be paid on Wednesday, July 16th. Investors of record on Wednesday, July 2nd will be given a dividend of $1.00 per share. The ex-dividend date is Wednesday, July 2nd.

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.