Denali Advisors LLC Grows Position in Teekay Corporation Ltd. $TK

Denali Advisors LLC raised its stake in shares of Teekay Corporation Ltd. (NYSE:TK) by 249.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 204,824 shares of the shipping company’s stock after purchasing an additional 146,190 shares during the period. Denali Advisors LLC owned 0.22% of Teekay worth $1,675,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. American Century Companies Inc. increased its holdings in shares of Teekay by 5.7% during the 2nd quarter. American Century Companies Inc. now owns 2,254,112 shares of the shipping company’s stock worth $18,596,000 after buying an additional 121,152 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Teekay by 40.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,104,437 shares of the shipping company’s stock worth $17,362,000 after acquiring an additional 604,666 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Teekay by 130.4% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,983,752 shares of the shipping company’s stock worth $16,366,000 after purchasing an additional 1,122,843 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Teekay by 36.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,394,516 shares of the shipping company’s stock valued at $11,477,000 after purchasing an additional 371,530 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of Teekay by 153.8% during the 1st quarter. Millennium Management LLC now owns 1,188,289 shares of the shipping company’s stock worth $7,807,000 after purchasing an additional 720,093 shares during the period. Hedge funds and other institutional investors own 46.73% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Teekay in a report on Monday, December 29th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Teekay Stock Performance

Shares of NYSE:TK opened at $11.44 on Tuesday. The business’s 50-day simple moving average is $9.71 and its 200 day simple moving average is $9.05. The company has a market cap of $1.05 billion, a P/E ratio of 8.11 and a beta of 0.20. Teekay Corporation Ltd. has a one year low of $5.65 and a one year high of $11.44.

Teekay Company Profile

Teekay Corporation (NYSE: TK) is a global provider of marine transportation and offshore production solutions for the energy industry. Founded in 1973 and headquartered in Vancouver, Canada, Teekay designs, owns and operates a diversified fleet of tankers and floating production, storage and offloading (FPSO) units. The company specializes in the movement and storage of crude oil, liquefied natural gas (LNG) and liquefied petroleum gas (LPG), offering integrated services that range from tanker transport to offshore production and marine maintenance.

Teekay’s core business is organized into three operating segments.