Inspire Advisors LLC Buys 21,861 Shares of Teekay Co. (NYSE:TK)

by · The Markets Daily

Inspire Advisors LLC grew its stake in shares of Teekay Co. (NYSE:TK – Free Report) by 42.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 73,770 shares of the shipping company’s stock after acquiring an additional 21,861 shares during the quarter. Inspire Advisors LLC owned about 0.08% of Teekay worth $679,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Teekay by 10.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,814 shares of the shipping company’s stock valued at $130,000 after acquiring an additional 1,747 shares during the period. CWM LLC raised its holdings in shares of Teekay by 135.2% during the 2nd quarter. CWM LLC now owns 3,391 shares of the shipping company’s stock worth $30,000 after buying an additional 1,949 shares in the last quarter. Diversified Trust Co raised its holdings in shares of Teekay by 16.4% during the 2nd quarter. Diversified Trust Co now owns 14,211 shares of the shipping company’s stock worth $127,000 after buying an additional 2,004 shares in the last quarter. DGS Capital Management LLC raised its holdings in shares of Teekay by 24.6% during the 1st quarter. DGS Capital Management LLC now owns 14,974 shares of the shipping company’s stock worth $109,000 after buying an additional 2,958 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Teekay by 90.6% during the 2nd quarter. Quarry LP now owns 8,415 shares of the shipping company’s stock worth $75,000 after buying an additional 4,000 shares in the last quarter. 46.73% of the stock is currently owned by institutional investors.

Teekay Stock Performance

Teekay stock opened at $8.54 on Friday. Teekay Co. has a 52 week low of $6.41 and a 52 week high of $9.95. The stock has a market capitalization of $784.31 million, a P/E ratio of 5.47 and a beta of 0.60. The stock has a fifty day moving average of $8.56 and a 200-day moving average of $8.46.

Teekay (NYSE:TK – Get Free Report) last issued its earnings results on Thursday, August 1st. The shipping company reported $0.35 earnings per share (EPS) for the quarter. Teekay had a return on equity of 7.03% and a net margin of 11.18%. The business had revenue of $326.14 million during the quarter.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Teekay from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 28th.

Check Out Our Latest Stock Report on TK

Teekay Company Profile

(Free Report)

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.

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