Inspire Advisors LLC grew its holdings in shares of Teekay Co. (NYSE:TK – Free Report) by 41.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 51,909 shares of the shipping company’s stock after purchasing an additional 15,108 shares during the period. Inspire Advisors LLC’s holdings in Teekay were worth $466,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of TK. Hennessy Advisors Inc. acquired a new position in Teekay during the fourth quarter worth $3,673,000. Dimensional Fund Advisors LP raised its holdings in shares of Teekay by 9.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,084,487 shares of the shipping company’s stock valued at $36,354,000 after purchasing an additional 449,307 shares during the period. American Century Companies Inc. grew its holdings in Teekay by 27.2% during the second quarter. American Century Companies Inc. now owns 1,546,328 shares of the shipping company’s stock worth $13,871,000 after purchasing an additional 331,002 shares during the period. Allspring Global Investments Holdings LLC increased its position in Teekay by 210.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 337,745 shares of the shipping company’s stock worth $3,030,000 after buying an additional 228,856 shares during the last quarter. Finally, Bell & Brown Wealth Advisors LLC bought a new stake in Teekay in the fourth quarter valued at approximately $1,439,000. 46.73% of the stock is currently owned by institutional investors and hedge funds.
Teekay Stock Performance
NYSE TK opened at $8.64 on Friday. The stock has a market cap of $785.81 million, a PE ratio of 5.33 and a beta of 0.59. The firm has a 50-day moving average of $8.11 and a 200-day moving average of $8.15. Teekay Co. has a 52-week low of $5.70 and a 52-week high of $9.95.
Wall Street Analyst Weigh In
Separately, StockNews.com lowered Teekay from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 28th.
Check Out Our Latest Analysis on TK
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.
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