Allspring Global Investments Holdings LLC boosted its stake in shares of Teekay Co. (NYSE:TK - Free Report) by 25.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 474,428 shares of the shipping company's stock after acquiring an additional 96,155 shares during the period. Allspring Global Investments Holdings LLC owned 0.52% of Teekay worth $3,333,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in TK. R Squared Ltd bought a new position in Teekay during the 4th quarter worth $27,000. DAVENPORT & Co LLC bought a new position in shares of Teekay in the 4th quarter valued at $80,000. Stratos Wealth Advisors LLC bought a new position in shares of Teekay in the 4th quarter valued at $93,000. Savant Capital LLC bought a new position in shares of Teekay in the 4th quarter valued at $95,000. Finally, MML Investors Services LLC bought a new position in shares of Teekay in the 3rd quarter valued at $100,000. Institutional investors own 46.73% of the company's stock.
Shares of TK traded up $0.03 during midday trading on Friday, hitting $6.72. The company's stock had a trading volume of 893,278 shares, compared to its average volume of 669,849. Teekay Co. has a one year low of $5.98 and a one year high of $9.95. The company's fifty day simple moving average is $7.01 and its two-hundred day simple moving average is $7.71. The stock has a market capitalization of $616.71 million, a price-to-earnings ratio of 4.76 and a beta of 0.51.
Teekay (NYSE:TK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The shipping company reported $0.19 earnings per share (EPS) for the quarter. Teekay had a return on equity of 5.64% and a net margin of 10.96%. The company had revenue of $161.63 million for the quarter.
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.
Before you consider Teekay, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Teekay wasn't on the list.
While Teekay currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.