Neuberger Berman trims Teekay LNG stake

Teekay LNG’s Pan Asia during sea trials (Image courtesy of Teekay LNG)

The US-based private investment firm, Neuberger Berman Group lowered its stake in Teekay LNG Partners, one of the world’s largest operators of liquefied natural gas tankers.

According to a recent filing with the Securities and Exchange Commission (SEC), Neuberger Berman reported holding about 2.2 million shares in Teekay LNG or 2.76 percent of the LNG shipping company.

Neuberger Berman held an 8.4% ownership stake or 6.6 million shares in Teekay LNG at the end of last year.

Institutional investors currently hold around $530 million or 41.4 percent in Teekay LNG’s stock, according to Nasdaq.

As of March 31, the top three institutional owners of the shipping firms stock were Fmr Llc, Oppenheimerfunds, Inc. and Neuberger Berman.

Shares of Teekay LNG traded down 0.92% on Monday, reaching $16.10. The company has a market capitalization of $1.28 billion.

 

LNG World News Staff

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