Bailard Inc. Lowers Position in Teekay Corporation Ltd. $TK

Bailard Inc. cut its position in shares of Teekay Corporation Ltd. (NYSE:TK) by 15.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,800 shares of the shipping company’s stock after selling 5,600 shares during the quarter. Bailard Inc.’s holdings in Teekay were worth $246,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Teekay by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,460 shares of the shipping company’s stock valued at $213,000 after buying an additional 1,404 shares during the period. Concurrent Investment Advisors LLC increased its stake in shares of Teekay by 3.9% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 38,003 shares of the shipping company’s stock worth $314,000 after acquiring an additional 1,411 shares in the last quarter. Martingale Asset Management L P lifted its position in Teekay by 0.6% during the 1st quarter. Martingale Asset Management L P now owns 264,626 shares of the shipping company’s stock valued at $1,739,000 after acquiring an additional 1,519 shares during the period. New York State Common Retirement Fund boosted its stake in 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 worth $68,000 after acquiring an additional 1,802 shares in the last quarter. Finally, SummerHaven Investment Management LLC grew its holdings in Teekay by 2.2% in the second quarter. SummerHaven Investment Management LLC now owns 97,615 shares of the shipping company’s stock worth $805,000 after purchasing an additional 2,129 shares during the period. Institutional investors own 46.73% of the company’s stock.

Teekay Stock Up 0.2%

Shares of TK opened at $10.05 on Friday. Teekay Corporation Ltd. has a twelve month low of $5.65 and a twelve month high of $10.27. The company has a market capitalization of $922.68 million, a P/E ratio of 7.13 and a beta of 0.35. The firm has a 50 day moving average of $8.79 and a 200 day moving average of $8.30.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Teekay in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

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.