SG Americas Securities LLC Sells 6,209 Shares of Teekay Co. (NYSE:TK)

SG Americas Securities LLC lessened its holdings in shares of Teekay Co. (NYSE:TK) by 15.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 35,227 shares of the shipping company’s stock after selling 6,209 shares during the period. SG Americas Securities LLC’s holdings in Teekay were worth $324,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Point72 DIFC Ltd raised its position in Teekay by 885.2% in the 2nd quarter. Point72 DIFC Ltd now owns 4,798 shares of the shipping company’s stock valued at $43,000 after buying an additional 4,311 shares during the last quarter. Aristides Capital LLC acquired a new stake in Teekay in the 2nd quarter valued at approximately $180,000. Cetera Investment Advisers raised its position in Teekay by 47.9% in the 2nd quarter. Cetera Investment Advisers now owns 176,707 shares of the shipping company’s stock valued at $1,585,000 after buying an additional 57,242 shares during the last quarter. Point72 Asset Management L.P. raised its position in Teekay by 124.3% in the 2nd quarter. Point72 Asset Management L.P. now owns 23,100 shares of the shipping company’s stock valued at $207,000 after buying an additional 12,800 shares during the last quarter. Finally, Quarry LP raised its position in Teekay by 90.6% in the 2nd quarter. Quarry LP now owns 8,415 shares of the shipping company’s stock valued at $75,000 after buying an additional 4,000 shares during the last quarter. Institutional investors own 46.73% of the company’s stock.

Wall Street Analyst Weigh In

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

Teekay Stock Performance

Shares of Teekay stock opened at $8.54 on Friday. The firm has a market cap of $776.70 million, a PE ratio of 5.27 and a beta of 0.60. Teekay Co. has a 52-week low of $6.41 and a 52-week high of $9.95. The business’s 50 day simple moving average is $8.56 and its 200 day simple moving average is $8.46.

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

Teekay Profile

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.