Exchange Traded Concepts LLC Has $316,000 Stake in Teekay Co. (NYSE:TK)

Exchange Traded Concepts LLC reduced its position in shares of Teekay Co. (NYSE:TK) by 10.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,301 shares of the shipping company’s stock after selling 3,886 shares during the period. Exchange Traded Concepts LLC’s holdings in Teekay were worth $316,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC grew its stake in shares of Teekay by 19.2% in the second quarter. Renaissance Technologies LLC now owns 4,026,075 shares of the shipping company’s stock valued at $36,114,000 after acquiring an additional 649,900 shares in the last quarter. American Century Companies Inc. grew its position in shares of Teekay by 27.2% during the 2nd 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 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of 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 purchasing an additional 228,856 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Teekay by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,527,077 shares of the shipping company’s stock valued at $49,579,000 after buying an additional 176,641 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its stake in shares of Teekay by 74.6% in the second quarter. Panagora Asset Management Inc. now owns 252,630 shares of the shipping company’s stock valued at $2,266,000 after buying an additional 107,970 shares during the period. 46.73% of the stock is currently owned by institutional investors.

Teekay Stock Up 0.8 %

TK opened at $8.54 on Friday. The stock has a market capitalization of $776.70 million, a price-to-earnings ratio of 5.27 and a beta of 0.60. Teekay Co. has a twelve month low of $6.41 and a twelve month high of $9.95. The company has a 50-day simple moving average of $8.56 and a 200 day simple moving average of $8.46.

Teekay (NYSE:TK) last announced its quarterly earnings data on Thursday, August 1st. The shipping company reported $0.35 EPS for the quarter. Teekay had a net margin of 11.18% and a return on equity of 7.03%. 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.

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.