Envestnet Asset Management Inc. Invests $1.09 Million in Viking Holdings Ltd. (NYSE:VIK)

Key Points

• Envestnet Asset Management Inc. made a new investment of $1.09 million in Viking Holdings Ltd., acquiring 27,413 shares of the company during the first quarter.
• Viking Holdings Ltd. reported a net revenue of $897.06 million for the latest quarter, exceeding analysts' expectations and marking a 24.9% increase from the previous year.
• Recent stock ratings indicate a consensus of "Moderate Buy" with an average price target of $53.33, as several brokerages adjusted their price targets for the stock.

Envestnet Asset Management Inc. bought a new stake in Viking Holdings Ltd. (NYSE:VIK - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 27,413 shares of the company's stock, valued at approximately $1,090,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Viking during the 4th quarter valued at about $66,000. Orion Capital Management LLC acquired a new position in shares of Viking during the 4th quarter valued at about $110,000. Golden State Wealth Management LLC increased its stake in shares of Viking by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 3,300 shares of the company's stock valued at $131,000 after acquiring an additional 1,650 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Viking by 2,135.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,001 shares of the company's stock valued at $176,000 after acquiring an additional 3,822 shares during the last quarter. Finally, AdvisorShares Investments LLC acquired a new position in shares of Viking during the 4th quarter valued at about $194,000. Institutional investors and hedge funds own 98.84% of the company's stock.

Viking Stock Down 2.0%

Shares of VIK traded down $1.15 during trading on Friday, reaching $57.57. The company's stock had a trading volume of 2,631,158 shares, compared to its average volume of 2,664,782. The company has a fifty day moving average of $52.38 and a two-hundred day moving average of $47.16. Viking Holdings Ltd. has a twelve month low of $30.56 and a twelve month high of $59.97. The company has a market cap of $25.51 billion, a price-to-earnings ratio of 46.80, a P/E/G ratio of 0.67 and a beta of 2.40.

Viking (NYSE:VIK - Get Free Report) last announced its earnings results on Tuesday, May 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.26) by $0.02. Viking had a negative return on equity of 128.44% and a net margin of 9.60%. The company had revenue of $897.06 million for the quarter, compared to analyst estimates of $841.18 million. During the same period in the prior year, the company posted ($1.21) EPS. Viking's quarterly revenue was up 24.9% on a year-over-year basis. As a group, equities analysts forecast that Viking Holdings Ltd. will post 1.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on VIK shares. Barclays upped their price objective on shares of Viking from $45.00 to $55.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Truist Financial boosted their target price on Viking from $50.00 to $55.00 and gave the stock a "hold" rating in a report on Monday, July 21st. Northcoast Research began coverage on Viking in a report on Friday, April 25th. They set a "buy" rating and a $51.00 target price for the company. Morgan Stanley decreased their target price on Viking from $49.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Wall Street Zen cut Viking from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.33.

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.