Teekay (NYSE:TK) Hits New 12-Month Low – Time to Sell?

Shares of Teekay Co. (NYSE:TK) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $5.67 and last traded at $5.80, with a volume of 1558204 shares changing hands. The stock had previously closed at $6.24.

Teekay Stock Up 7.4 %

The firm has a 50-day simple moving average of $6.76 and a 200-day simple moving average of $7.39. The stock has a market cap of $576.91 million, a PE ratio of 4.46 and a beta of 0.47.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Empowered Funds LLC bought a new position in Teekay in the 4th quarter worth about $4,945,000. Millennium Management LLC purchased a new stake in shares of Teekay during the 4th quarter valued at $3,245,000. JPMorgan Chase & Co. lifted its holdings in shares of Teekay by 108.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 705,374 shares of the shipping company’s stock worth $6,489,000 after acquiring an additional 367,527 shares during the last quarter. Alliancebernstein L.P. grew its position in Teekay by 738.1% in the fourth quarter. Alliancebernstein L.P. now owns 357,890 shares of the shipping company’s stock worth $2,480,000 after acquiring an additional 315,190 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Teekay by 9.9% in the fourth quarter. American Century Companies Inc. now owns 2,022,149 shares of the shipping company’s stock valued at $14,013,000 after acquiring an additional 181,474 shares during the last quarter. Institutional investors own 46.73% of the company’s stock.

Teekay Company 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.