Summit Global Investments Purchases 34,765 Shares of Teekay Co. (NYSE:TK)

Summit Global Investments boosted its position in Teekay Co. (NYSE:TK) by 44.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 113,464 shares of the shipping company’s stock after purchasing an additional 34,765 shares during the period. Summit Global Investments’ holdings in Teekay were worth $786,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in TK. Diversified Trust Co raised its stake in shares of Teekay by 13.2% during the fourth quarter. Diversified Trust Co now owns 16,090 shares of the shipping company’s stock valued at $112,000 after acquiring an additional 1,879 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Teekay by 7.6% during the fourth quarter. Principal Financial Group Inc. now owns 30,012 shares of the shipping company’s stock valued at $208,000 after acquiring an additional 2,109 shares in the last quarter. New York State Common Retirement Fund raised its stake in shares of Teekay by 53.4% during the fourth quarter. New York State Common Retirement Fund now owns 8,623 shares of the shipping company’s stock valued at $60,000 after acquiring an additional 3,000 shares in the last quarter. Caprock Group LLC raised its stake in shares of Teekay by 15.1% during the third quarter. Caprock Group LLC now owns 28,009 shares of the shipping company’s stock valued at $258,000 after acquiring an additional 3,674 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Teekay during the fourth quarter valued at approximately $27,000. Institutional investors own 46.73% of the company’s stock.

Teekay Stock Performance

Teekay stock opened at $6.73 on Monday. The company has a 50 day moving average price of $6.93 and a 200-day moving average price of $7.53. Teekay Co. has a fifty-two week low of $5.98 and a fifty-two week high of $9.95. The company has a market capitalization of $617.60 million, a PE ratio of 4.77 and a beta of 0.56.

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

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.