Victory Capital Management Inc. Sells 47,928 Shares of Teekay Co. (NYSE:TK)

Victory Capital Management Inc. cut its position in shares of Teekay Co. (NYSE:TK) by 42.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,008 shares of the shipping company’s stock after selling 47,928 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of Teekay worth $583,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Teekay by 10.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,814 shares of the shipping company’s stock valued at $130,000 after purchasing an additional 1,747 shares during the period. CWM LLC raised its position in Teekay by 135.2% during the second quarter. CWM LLC now owns 3,391 shares of the shipping company’s stock valued at $30,000 after purchasing an additional 1,949 shares during the period. Diversified Trust Co raised its position in Teekay by 16.4% during the second quarter. Diversified Trust Co now owns 14,211 shares of the shipping company’s stock valued at $127,000 after purchasing an additional 2,004 shares during the period. DGS Capital Management LLC raised its position in Teekay by 24.6% during the first quarter. DGS Capital Management LLC now owns 14,974 shares of the shipping company’s stock valued at $109,000 after purchasing an additional 2,958 shares during the period. Finally, Quadrature Capital Ltd raised its position in Teekay by 7.5% during the fourth quarter. Quadrature Capital Ltd now owns 68,668 shares of the shipping company’s stock valued at $491,000 after purchasing an additional 4,799 shares during the period. 46.73% of the stock is owned by institutional investors.

Teekay Price Performance

Shares of TK stock opened at $8.85 on Monday. Teekay Co. has a 1 year low of $5.70 and a 1 year high of $9.95. The stock’s 50 day simple moving average is $8.17 and its two-hundred day simple moving average is $8.21. The company has a market cap of $804.90 million, a PE ratio of 5.46 and a beta of 0.59.

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

Analyst Ratings Changes

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

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.