Eastern Bank Invests $10.53 Million in Viking Holdings Ltd. $VIK

Key Points

• Eastern Bank purchased a new $10.53 million stake in Viking Holdings during the second quarter, buying 100,631 shares. Institutional investors collectively own 98.84% of the company.
• Analyst sentiment remains broadly positive: Viking carries a “Moderate Buy” consensus rating and an average price target of $104.06, while several firms recently raised their targets.
• Viking shares opened at $106.28, near their 52-week high of $107.06. Quarterly revenue rose 17.5% year over year to $1.05 billion, matching adjusted earnings expectations.

Eastern Bank bought a new stake in shares of Viking Holdings Ltd. (NYSE:VIK - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 100,631 shares of the company's stock, valued at approximately $10,533,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Basecamp Wealth Advisors LLC purchased a new position in Viking during the first quarter worth $25,000. Activest Wealth Management raised its stake in shares of Viking by 19,500.0% in the fourth quarter. Activest Wealth Management now owns 392 shares of the company's stock valued at $28,000 after acquiring an additional 390 shares during the period. Bank of Jackson Hole Trust bought a new stake in shares of Viking in the 4th quarter worth about $28,000. Cornerstone Planning Group LLC lifted its holdings in shares of Viking by 316.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 416 shares of the company's stock worth $29,000 after acquiring an additional 316 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Viking by 651.8% during the 4th quarter. SBI Securities Co. Ltd. now owns 421 shares of the company's stock worth $30,000 after purchasing an additional 365 shares during the period. Hedge funds and other institutional investors own 98.84% of the company's stock.

Insider Buying and Selling at Viking

In related news, EVP Richard Marnell sold 6,120 shares of the company's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $94.30, for a total value of $577,116.00. Following the completion of the sale, the executive vice president directly owned 110,930 shares of the company's stock, valued at $10,460,699. This represents a 5.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 17,566 shares of company stock valued at $1,640,166 in the last ninety days.

Analyst Ratings Changes

VIK has been the topic of a number of recent analyst reports. Susquehanna increased their price objective on shares of Viking from $100.00 to $105.00 and gave the stock a "positive" rating in a research report on Friday, May 15th. Wells Fargo & Company upgraded Viking from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $79.00 to $109.00 in a research report on Monday, May 18th. Weiss Ratings cut Viking from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 18th. Mizuho upped their target price on Viking from $69.00 to $75.00 and gave the company an "underperform" rating in a research note on Friday, May 15th. Finally, Barclays increased their price target on Viking from $88.00 to $93.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 8th. 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $104.06.

Viking Trading Up 1.8%

VIK opened at $106.28 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.78 and a debt-to-equity ratio of 5.27. The stock's fifty day moving average is $97.60 and its two-hundred day moving average is $83.76. The company has a market capitalization of $47.37 billion, a P/E ratio of 39.51, a PEG ratio of 1.20 and a beta of 1.50. Viking Holdings Ltd. has a 52 week low of $55.55 and a 52 week high of $107.06.

Viking (NYSE:VIK - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). Viking had a return on equity of 149.40% and a net margin of 18.00%.The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the business earned ($0.24) EPS. The business's revenue for the quarter was up 17.5% compared to the same quarter last year. Analysts forecast that Viking Holdings Ltd. will post 3.32 earnings per share for the current year.

Viking Company Profile

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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