R Squared Ltd Buys New Shares in Teekay Co. (NYSE:TK)

R Squared Ltd bought a new stake in shares of Teekay Co. (NYSE:TK) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 3,870 shares of the shipping company’s stock, valued at approximately $27,000.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in Teekay by 108.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 705,374 shares of the shipping company’s stock valued at $6,489,000 after purchasing an additional 367,527 shares during the last quarter. MML Investors Services LLC acquired a new position in Teekay during the 3rd quarter valued at $100,000. Nisa Investment Advisors LLC acquired a new position in Teekay during the 4th quarter valued at $295,000. Cetera Investment Advisers raised its stake in Teekay by 47.9% during the 2nd quarter. Cetera Investment Advisers now owns 176,707 shares of the shipping company’s stock valued at $1,585,000 after purchasing an additional 57,242 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Teekay by 23.0% during the 3rd quarter. Principal Financial Group Inc. now owns 27,903 shares of the shipping company’s stock valued at $257,000 after purchasing an additional 5,223 shares during the last quarter. 46.73% of the stock is currently owned by institutional investors and hedge funds.

Teekay Stock Performance

Shares of TK stock opened at $7.42 on Wednesday. Teekay Co. has a 52-week low of $5.98 and a 52-week high of $9.95. The stock has a market cap of $680.99 million, a price-to-earnings ratio of 4.94 and a beta of 0.51. The firm has a fifty day moving average of $6.93 and a 200-day moving average of $7.81.

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.