Teekay Corporation Ltd. $TK Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers reduced its stake in Teekay Corporation Ltd. (NYSE:TK) by 56.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,154 shares of the shipping company’s stock after selling 49,240 shares during the period. Cetera Investment Advisers’ holdings in Teekay were worth $251,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Teekay by 381.8% in the first quarter. GAMMA Investing LLC now owns 4,139 shares of the shipping company’s stock valued at $27,000 after acquiring an additional 3,280 shares during the period. Parallel Advisors LLC raised its holdings in shares of Teekay by 68.2% during the first quarter. Parallel Advisors LLC now owns 7,406 shares of the shipping company’s stock valued at $49,000 after buying an additional 3,002 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Teekay by 20.9% during the first quarter. New York State Common Retirement Fund now owns 10,425 shares of the shipping company’s stock valued at $68,000 after buying an additional 1,802 shares during the last quarter. Bayesian Capital Management LP bought a new stake in shares of Teekay during the fourth quarter valued at approximately $73,000. Finally, PharVision Advisers LLC bought a new stake in shares of Teekay during the fourth quarter valued at approximately $75,000. 46.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen cut 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 $8.0050 on Friday. The stock has a market capitalization of $735.18 million, a price-to-earnings ratio of 5.68 and a beta of 0.49. Teekay Corporation Ltd. has a 1-year low of $5.65 and a 1-year high of $9.78. The company has a 50 day moving average price of $7.92 and a 200 day moving average price of $7.43.

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.