Kornitzer Capital Management Inc. KS Buys New Holdings in Viking Holdings Ltd. $VIK

Key Points

• Kornitzer Capital Management opened a new position in Viking Holdings during the first quarter, buying 80,300 shares worth about $5.9 million.
• Viking shares fell 1.9% to $99.25, though the stock remains near its 52-week high and above both its 50-day and 200-day moving averages.
• Analyst sentiment is broadly positive: several firms recently raised ratings or price targets, and the stock now carries a Moderate Buy consensus with an average target price of $98.18.

Kornitzer Capital Management Inc. KS acquired a new position in Viking Holdings Ltd. (NYSE:VIK - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 80,300 shares of the company's stock, valued at approximately $5,900,000.

Several other hedge funds and other institutional investors have also modified their holdings of VIK. Newbridge Financial Services Group Inc. acquired a new stake in Viking during the 3rd quarter worth approximately $26,000. Activest Wealth Management lifted its position in Viking by 19,500.0% during the fourth quarter. Activest Wealth Management now owns 392 shares of the company's stock valued at $28,000 after buying an additional 390 shares in the last quarter. Bank of Jackson Hole Trust acquired a new position in Viking during the fourth quarter valued at approximately $28,000. Cornerstone Planning Group LLC grew its stake in Viking by 316.0% during the fourth quarter. Cornerstone Planning Group LLC now owns 416 shares of the company's stock worth $29,000 after buying an additional 316 shares during the period. Finally, SBI Securities Co. Ltd. grew its stake in Viking by 651.8% during the fourth quarter. SBI Securities Co. Ltd. now owns 421 shares of the company's stock worth $30,000 after buying an additional 365 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Richard Marnell sold 11,287 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $92.85, for a total value of $1,047,997.95. Following the completion of the transaction, the executive vice president owned 117,050 shares of the company's stock, valued at approximately $10,868,092.50. This represents a 8.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Jeffrey Dash sold 46,369 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The shares were 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 of the company's stock, valued at approximately $33,698,365.06. This trade represents a 9.94% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 63,935 shares of company stock worth $5,360,351.

Viking Stock Down 1.9%

Shares of VIK stock traded down $1.97 on Friday, hitting $99.25. The stock had a trading volume of 1,379,776 shares, compared to its average volume of 2,659,440. The stock's 50 day moving average is $92.05 and its 200-day moving average is $80.54. The firm has a market capitalization of $44.23 billion, a price-to-earnings ratio of 36.89, a P/E/G ratio of 1.43 and a beta of 1.48. Viking Holdings Ltd. has a 52-week low of $55.55 and a 52-week high of $105.76. 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 released its quarterly earnings results on Thursday, May 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Viking had a net margin of 18.00% and a return on equity of 149.40%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm posted ($0.24) EPS. The firm's quarterly revenue was up 17.5% on a year-over-year basis. As a group, research analysts expect that Viking Holdings Ltd. will post 3.3 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on VIK. Loop Capital initiated coverage on shares of Viking in a research report on Monday, June 1st. They set a "buy" rating and a $108.00 price target for the company. Truist Financial raised Viking from a "hold" rating to a "buy" rating and raised their price objective for the company from $75.00 to $102.00 in a research report on Friday, May 22nd. Sanford C. Bernstein started coverage on Viking in a research note on Wednesday, June 3rd. They set an "outperform" rating and a $120.00 price objective on the stock. Susquehanna upped their target price on Viking from $100.00 to $105.00 and gave the stock a "positive" rating in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. increased their target price on Viking from $87.00 to $104.00 and gave the company an "overweight" rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $98.18.

Key Stories Impacting Viking

Here are the key news stories impacting Viking this week:

• Positive Sentiment: BMO Capital Markets upgraded Viking to “strong-buy”, which could support investor sentiment by signaling confidence in the cruise operator’s outlook. Tickerreport.com
• Neutral Sentiment: Viking was mentioned in shipping-stock roundups, but those articles appear to be broad sector lists rather than company-specific catalysts. Top Shipping Stocks To Follow Today - July 7th
• Neutral Sentiment: Several recent stories reference “Viking” in a historical or sports context, including longboats, Viking spirit, and Norway’s World Cup run, but these do not appear related to Viking Holdings’ business performance. I sail the world in a replica 10th-century Viking longboat
• Neutral Sentiment: Passionate trading activity and media coverage around “Viking” themes may keep the ticker in view, but they are unlikely to change fundamentals on their own. Ship enthusiast cites ‘Viking spirit’ as Norway ready for England clash
• Negative Sentiment: Unusual options activity skewed bearish, with traders buying far more put options than usual, suggesting some investors are positioning for downside or hedging against weakness. Tickerreport.com

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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