Navellier & Associates Inc. Increases Holdings in Teekay Co. (NYSE:TK)

Navellier & Associates Inc. grew its holdings in shares of Teekay Co. (NYSE:TK) by 65.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,963 shares of the shipping company’s stock after buying an additional 28,151 shares during the quarter. Navellier & Associates Inc. owned 0.08% of Teekay worth $492,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TK. R Squared Ltd purchased a new stake in shares of Teekay during the 4th quarter valued at about $27,000. New York State Common Retirement Fund raised its position in shares of Teekay by 53.4% during the 4th quarter. New York State Common Retirement Fund now owns 8,623 shares of the shipping company’s stock valued at $60,000 after buying an additional 3,000 shares in the last quarter. DAVENPORT & Co LLC purchased a new stake in shares of Teekay during the 4th quarter valued at about $80,000. Stratos Wealth Advisors LLC purchased a new stake in Teekay in the 4th quarter worth about $93,000. Finally, Savant Capital LLC purchased a new stake in Teekay in the 4th quarter worth about $95,000. 46.73% of the stock is currently owned by hedge funds and other institutional investors.

Teekay Price Performance

Teekay stock opened at $6.72 on Monday. Teekay Co. has a 1-year low of $5.98 and a 1-year high of $9.95. The firm has a market capitalization of $616.68 million, a P/E ratio of 4.76 and a beta of 0.51. The company’s 50-day moving average is $7.01 and its 200 day moving average is $7.71.

Teekay (NYSE:TK) last posted its quarterly earnings data on Wednesday, February 19th. The shipping company reported $0.19 earnings per share for the quarter. Teekay had a net margin of 10.96% and a return on equity of 5.67%. The company had revenue of $161.63 million for the quarter.

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.