First Trust Advisors LP Buys 41,517 Shares of Viking Holdings Ltd. $VIK

Key Points

• First Trust Advisors increased its Viking Holdings stake by 34.8% in the first quarter, purchasing 41,517 additional shares for a total of 160,947 shares valued at approximately $11.8 million. Institutional investors collectively own 98.84% of the company.
• Viking reported 17.5% year-over-year revenue growth to $1.05 billion in its latest quarter, while earnings of $(0.11) per share matched analyst expectations. The stock recently traded at $104.38, near its 12-month high, with a market capitalization of $46.5 billion.
• Analyst sentiment remains favorable, with the stock holding a “Moderate Buy” consensus rating and an average price target of $103.39. Recent targets range from $93 to $121, while insiders have sold 17,566 shares worth about $1.64 million over the last quarter.

First Trust Advisors LP raised its stake in Viking Holdings Ltd. (NYSE:VIK - Free Report) by 34.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 160,947 shares of the company's stock after purchasing an additional 41,517 shares during the period. First Trust Advisors LP's holdings in Viking were worth $11,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC grew its position in shares of Viking by 92.0% in the 1st quarter. NewEdge Advisors LLC now owns 1,440 shares of the company's stock worth $57,000 after buying an additional 690 shares during the last quarter. Prudential Financial Inc. purchased a new stake in Viking during the second quarter valued at approximately $303,000. Daiwa Securities Group Inc. purchased a new stake in Viking during the second quarter valued at approximately $922,000. State Street Corp boosted its stake in Viking by 34,748.5% in the second quarter. State Street Corp now owns 1,812,120 shares of the company's stock valued at $96,568,000 after acquiring an additional 1,806,920 shares in the last quarter. Finally, Nebula Research & Development LLC boosted its stake in Viking by 275.0% in the second quarter. Nebula Research & Development LLC now owns 30,257 shares of the company's stock valued at $1,612,000 after acquiring an additional 22,188 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Viking Trading Up 1.7%

NYSE VIK opened at $104.38 on Friday. Viking Holdings Ltd. has a 12-month low of $55.55 and a 12-month high of $105.76. The company has a fifty day simple moving average of $96.76 and a two-hundred day simple moving average of $83.29. 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 stock has a market cap of $46.52 billion, a P/E ratio of 38.80, a P/E/G ratio of 1.18 and a beta of 1.48.

Viking (NYSE:VIK - Get Free Report) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.11) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.11). The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. Viking had a net margin of 18.00% and a return on equity of 149.40%. The business's quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.24) earnings per share. On average, analysts forecast that Viking Holdings Ltd. will post 3.32 earnings per share for the current year.

Insiders Place Their Bets

In other Viking news, EVP Richard Marnell sold 6,120 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $94.30, for a total transaction of $577,116.00. Following the sale, the executive vice president owned 110,930 shares in the company, valued at approximately $10,460,699. The trade was a 5.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders sold 17,566 shares of company stock worth $1,640,166.

Wall Street Analyst Weigh In

Several brokerages have recently commented on VIK. Sanford C. Bernstein started coverage on Viking in a report on Wednesday, June 3rd. They set an "outperform" rating and a $120.00 price objective for the company. BMO Capital Markets started coverage on Viking in a research note on Tuesday, July 7th. They set an "outperform" rating and a $115.00 target price on the stock. BNP Paribas Exane reaffirmed an "outperform" rating and set a $121.00 target price (up from $104.00) on shares of Viking in a research report on Tuesday, July 14th. Barclays upped their target price on Viking from $88.00 to $93.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 8th. Finally, Morgan Stanley increased their price target on Viking from $86.00 to $93.00 and gave the company an "equal weight" rating in a research note on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $103.39.

Key Stories Impacting Viking

Here are the key news stories impacting Viking this week:

• Positive Sentiment: Fleet expansion strengthens capacity. Viking took delivery of the 190-guest Viking Dagur, a new Viking Longship that will operate on the Rhine, Main and Danube rivers. The addition supports Viking’s European capacity and long-term itinerary growth. Viking Takes Delivery of Newest River Ship in Europe
• Positive Sentiment: Viking is targeting Chinese-speaking travelers. The company plans its first Chinese-language journeys in Northern Europe, broadening its addressable customer base and potentially improving international demand and occupancy. Viking: First Chinese-Language Journeys for Northern Europe
• Neutral Sentiment: Investors should distinguish Viking Holdings from Viking Therapeutics. An article discussing oral VK2735 and a potential Phase III trial concerns Viking Therapeutics, Inc. NASDAQ: VKTX, not Viking Holdings NYSE: VIK, and therefore does not represent a catalyst for VIK. Viking expects oral VK2735 Phase III start
• Negative Sentiment: Low water levels caused a river ship to run aground on the Danube in Bulgaria. Travelers were reportedly evacuated, creating potential disruption, reimbursement and reputational risks. The incident appears weather- or water-condition-related, but repeated coverage could weigh on near-term sentiment and highlights operating risks for European river itineraries. Viking ship runs aground in Europe due to low water levels

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.