Teekay Corporation Ltd. $TK Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lifted its holdings in Teekay Corporation Ltd. (NYSE:TK) by 24.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,205 shares of the shipping company’s stock after purchasing an additional 28,860 shares during the quarter. Envestnet Asset Management Inc. owned 0.16% of Teekay worth $1,231,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. New York State Common Retirement Fund lifted its holdings in Teekay by 20.9% in the first quarter. New York State Common Retirement Fund now owns 10,425 shares of the shipping company’s stock worth $68,000 after purchasing an additional 1,802 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Teekay during the 1st quarter worth about $1,284,000. Pacer Advisors Inc. acquired a new stake in shares of Teekay in the 1st quarter worth approximately $4,758,000. Bell & Brown Wealth Advisors LLC lifted its stake in shares of Teekay by 4.1% in the 1st quarter. Bell & Brown Wealth Advisors LLC now owns 199,603 shares of the shipping company’s stock worth $1,311,000 after acquiring an additional 7,825 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in shares of Teekay by 150.8% in the first quarter. GSA Capital Partners LLP now owns 135,021 shares of the shipping company’s stock valued at $887,000 after acquiring an additional 81,192 shares in the last quarter. 46.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Teekay in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Teekay presently has a consensus rating of “Sell”.

Teekay Trading Down 2.7%

Shares of Teekay stock opened at $9.96 on Friday. Teekay Corporation Ltd. has a 52 week low of $5.65 and a 52 week high of $10.60. The stock has a market cap of $914.23 million, a PE ratio of 7.06 and a beta of 0.35. The company’s 50-day moving average price is $8.92 and its two-hundred day moving average price is $8.38.

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.