Navellier & Associates Inc. Buys 28,151 Shares of Teekay Co. (NYSE:TK)

Navellier & Associates Inc. grew its stake in Teekay Co. (NYSE:TK) by 65.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 70,963 shares of the shipping company’s stock after purchasing an additional 28,151 shares during the quarter. Navellier & Associates Inc.’s holdings in Teekay were worth $492,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its stake in shares of Teekay by 108.8% during the third 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 in the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Teekay during the fourth quarter valued at approximately $295,000. MML Investors Services LLC bought a new position in shares of Teekay during the third quarter valued at approximately $100,000. Principal Financial Group Inc. boosted its stake in shares of Teekay by 23.0% during the third 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 in the last quarter. Finally, Barclays PLC boosted its stake in shares of Teekay by 267.9% during the third quarter. Barclays PLC now owns 80,046 shares of the shipping company’s stock valued at $736,000 after purchasing an additional 58,290 shares in the last quarter. 46.73% of the stock is currently owned by institutional investors.

Teekay Stock Performance

NYSE TK opened at $6.72 on Monday. The firm’s 50 day moving average price is $7.01 and its 200-day moving average price is $7.71. Teekay Co. has a 52-week low of $5.98 and a 52-week high of $9.95. The company has a market cap of $616.68 million, a PE ratio of 4.76 and a beta of 0.51.

Teekay (NYSE:TK) last released its quarterly earnings data on Wednesday, February 19th. The shipping company reported $0.19 earnings per share (EPS) for the quarter. The firm had revenue of $161.63 million for 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.