Hodges Capital Management Inc. Invests $15.29 Million in Viking Holdings Ltd. $VIK

Key Points

• Hodges Capital Management opened a new position in Viking Holdings, buying 208,055 shares valued at about $15.29 million. The stake now represents roughly 1.3% of the firm’s portfolio.
• Other institutional investors were also active in VIK, and institutions now own 98.84% of the company. Meanwhile, insiders sold shares over the last 90 days, including recent sales by EVPs Jeffrey Dash and Richard Marnell.
• Analysts remain generally bullish on Viking, with 13 Buy ratings, 3 Holds, and 1 Sell, giving the stock a Moderate Buy consensus and an average price target of $96.38. The company also reported Q1 revenue of $1.05 billion, beating estimates and rising 17.5% year over year.

Hodges Capital Management Inc. bought a new position in shares of Viking Holdings Ltd. (NYSE:VIK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 208,055 shares of the company's stock, valued at approximately $15,288,000. Viking comprises approximately 1.3% of Hodges Capital Management Inc.'s investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds have also added to or reduced their stakes in VIK. Newbridge Financial Services Group Inc. bought a new stake in Viking during the 3rd quarter worth about $26,000. Activest Wealth Management grew its holdings in shares of Viking by 19,500.0% in the 4th quarter. Activest Wealth Management now owns 392 shares of the company's stock valued at $28,000 after acquiring an additional 390 shares in the last quarter. Bank of Jackson Hole Trust bought a new position in shares of Viking in the 4th quarter valued at about $28,000. Cornerstone Planning Group LLC increased its position in shares of Viking by 316.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 416 shares of the company's stock valued at $29,000 after acquiring an additional 316 shares during the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of Viking by 651.8% in the fourth quarter. SBI Securities Co. Ltd. now owns 421 shares of the company's stock valued at $30,000 after acquiring an additional 365 shares during the last quarter. Institutional investors own 98.84% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on VIK shares. UBS Group reissued a "buy" rating and set a $100.00 price target on shares of Viking in a research report on Wednesday, May 27th. Mizuho boosted their price target on Viking from $69.00 to $75.00 and gave the stock an "underperform" rating in a research report on Friday, May 15th. Stifel Nicolaus set a $105.00 price objective on Viking in a research note on Friday, May 15th. The Goldman Sachs Group increased their price objective on Viking from $84.00 to $95.00 and gave the company a "buy" rating in a report on Friday, May 15th. Finally, JPMorgan Chase & Co. increased their price objective on Viking from $87.00 to $104.00 and gave the company an "overweight" rating in a report on Monday, April 27th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $96.38.

Key Viking News

Here are the key news stories impacting Viking this week:

• Positive Sentiment: Viking was included in recent shipping-stock watchlists, which can draw investor attention to the name and support trading interest. Shipping Stocks To Watch Today - June 30th
• Neutral Sentiment: Several high-traffic stories about “Viking” in Norway’s World Cup celebrations are unrelated to Viking Holdings and are unlikely to materially affect the stock. ‘Bigger than football’: Norway fans’ Viking row makes waves at World Cup
• Neutral Sentiment: Another shipping-stock roundup also flagged Viking, but it does not appear to include new company-specific catalysts. Shipping Stocks To Keep An Eye On - June 29th
• Neutral Sentiment: The remaining “Viking row” articles are social-media and sports explainer pieces, not business developments for Viking Holdings. What is the 'Viking row' and why is Norway doing it at the World Cup?

Insider Buying and Selling

In related news, EVP Jeffrey Dash sold 46,369 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $80.23, for a total value of $3,720,184.87. Following the sale, the executive vice president owned 420,022 shares in the company, valued at approximately $33,698,365.06. This represents a 9.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Richard Marnell sold 6,120 shares of the stock in a transaction 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 completion of the sale, the executive vice president owned 110,930 shares in the company, valued at approximately $10,460,699. This trade represents a 5.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 92,566 shares of company stock valued at $7,657,130.

Viking Stock Down 0.4%

Shares of VIK stock opened at $100.30 on Monday. Viking Holdings Ltd. has a 52-week low of $54.16 and a 52-week high of $105.76. The stock has a market cap of $44.70 billion, a price-to-earnings ratio of 37.29, a PEG ratio of 1.46 and a beta of 1.48. The firm's 50-day moving average is $90.09 and its 200-day moving average is $79.58. The company has a debt-to-equity ratio of 5.27, a quick ratio of 0.76 and a current ratio of 0.78.

Viking (NYSE:VIK - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.11) EPS for the quarter, hitting analysts' consensus estimates of ($0.11). The business had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.01 billion. Viking had a return on equity of 149.40% and a net margin of 18.00%.Viking's quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.24) earnings per share. Sell-side analysts predict that Viking Holdings Ltd. will post 3.28 EPS for the current year.

Viking 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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