Bank of America Corp DE Buys 647,606 Shares of Viking Holdings Ltd. $VIK

Key Points

• Bank of America increased its Viking Holdings stake by 41% in the first quarter, purchasing 647,606 shares for a total holding of 2.23 million shares valued at approximately $163.7 million.
• Institutional ownership remains very high at 98.84%, with State Street and other funds also significantly expanding their positions.
• Viking reported quarterly revenue of $1.05 billion, up 17.5% year over year and above expectations. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $105.11, while the stock recently traded near its 12-month high.

Bank of America Corp DE lifted its holdings in shares of Viking Holdings Ltd. (NYSE:VIK - Free Report) by 41.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,227,293 shares of the company's stock after purchasing an additional 647,606 shares during the period. Bank of America Corp DE owned 0.50% of Viking worth $163,661,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. NewEdge Advisors LLC boosted its stake in Viking by 92.0% during the first quarter. NewEdge Advisors LLC now owns 1,440 shares of the company's stock worth $57,000 after acquiring an additional 690 shares in the last quarter. Prudential Financial Inc. purchased a new stake in Viking in the second quarter worth $303,000. Daiwa Securities Group Inc. purchased a new stake in shares of Viking during the 2nd quarter valued at approximately $922,000. State Street Corp lifted its holdings in Viking by 34,748.5% during the 2nd quarter. State Street Corp now owns 1,812,120 shares of the company's stock worth $96,568,000 after purchasing an additional 1,806,920 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its holdings in Viking by 275.0% in the 2nd quarter. Nebula Research & Development LLC now owns 30,257 shares of the company's stock valued at $1,612,000 after purchasing an additional 22,188 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Viking Trading Up 0.7%

VIK opened at $108.31 on Thursday. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 5.27. The firm has a market cap of $48.27 billion, a price-to-earnings ratio of 40.26, a PEG ratio of 1.23 and a beta of 1.50. The stock has a fifty day moving average price of $98.31 and a 200-day moving average price of $84.28. Viking Holdings Ltd. has a 12 month low of $55.55 and a 12 month high of $110.09.

Viking (NYSE:VIK - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). Viking had a net margin of 18.00% and a return on equity of 149.40%. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm earned ($0.24) earnings per share. Viking's revenue was up 17.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Viking Holdings Ltd. will post 3.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Richard Marnell sold 6,120 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $94.30, for a total value of $577,116.00. Following the transaction, the executive vice president owned 110,930 shares in the company, valued at approximately $10,460,699. This represents a 5.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 17,566 shares of company stock valued at $1,640,166 in the last 90 days.

Analysts Set New Price Targets

VIK has been the subject of several analyst reports. Weiss Ratings lowered shares of Viking from a "hold (c+)" rating to a "hold (c)" rating in a research report on Monday, May 18th. BNP Paribas Exane restated an "outperform" rating and set a $121.00 price target (up from $104.00) on shares of Viking in a report on Tuesday, July 14th. BMO Capital Markets started coverage on shares of Viking in a research note on Tuesday, July 7th. They issued an "outperform" rating and a $115.00 price target for the company. Susquehanna raised their target price on Viking from $100.00 to $105.00 and gave the stock a "positive" rating in a report on Friday, May 15th. Finally, UBS Group reaffirmed a "buy" rating and set a $100.00 target price on shares of Viking in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $105.11.

About Viking

Viking Holdings Ltd engages in the passenger shipping and other forms of passenger transport in North America, the United Kingdom, and internationally. It operates through River and Ocean segments. The company also operates as a tour entrepreneur for passengers and related activities in tourism. As of December 31, 2023, it operated a fleet of 92 ships, including 81 river vessels comprising 58 Longships, 10 smaller classes based on the Longship design, 11 other river vessels, and 1 river vessel charter and the Viking Mississippi; 9 ocean ships; and 2 expedition ships.

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