Russell Investments Group Ltd. Sells 88,296 Shares of Teekay Corporation Ltd. $TK

Russell Investments Group Ltd. reduced its holdings in shares of Teekay Corporation Ltd. (NYSE:TK) by 81.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,816 shares of the shipping company’s stock after selling 88,296 shares during the period. Russell Investments Group Ltd.’s holdings in Teekay were worth $130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings 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 in the last quarter. Parallel Advisors LLC raised its position in shares of Teekay by 68.2% in the 1st quarter. Parallel Advisors LLC now owns 7,406 shares of the shipping company’s stock worth $49,000 after purchasing an additional 3,002 shares during the last quarter. New York State Common Retirement Fund increased its holdings in Teekay by 20.9% in the 1st quarter. New York State Common Retirement Fund now owns 10,425 shares of the shipping company’s stock worth $68,000 after buying an additional 1,802 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Teekay in the 4th quarter worth about $73,000. Finally, PharVision Advisers LLC bought a new stake in shares of Teekay during the 4th quarter valued at about $75,000. Institutional investors own 46.73% of the company’s stock.

Teekay Price Performance

Shares of NYSE TK opened at $8.32 on Thursday. The stock has a market capitalization of $763.65 million, a P/E ratio of 5.90 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 business has a fifty day moving average price of $7.76 and a 200 day moving average price of $7.49.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Teekay from a “buy” rating to a “hold” rating in a research note on Monday, May 19th.

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.