Kovitz Investment Group Partners LLC Boosts Stake in Viking Holdings Ltd. $VIK

Key Points

• Kovitz Investment Group Partners LLC increased its stake in Viking Holdings Ltd. by 34.4%, owning 200,537 shares worth approximately $7.97 million.
• Viking Holdings reported earnings per share of ($0.24) for the quarter, beating estimates and reflecting a 24.9% year-over-year revenue growth to $897.06 million.
• Analysts have set a moderate buy consensus on Viking stock, with price target increases from major firms such as Bank of America, raising their target to $70.00.

Kovitz Investment Group Partners LLC lifted its stake in Viking Holdings Ltd. (NYSE:VIK - Free Report) by 34.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 200,537 shares of the company's stock after purchasing an additional 51,340 shares during the period. Kovitz Investment Group Partners LLC's holdings in Viking were worth $7,971,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of VIK. Geode Capital Management LLC purchased a new stake in shares of Viking in the 4th quarter worth $3,206,000. Wells Fargo & Company MN increased its stake in shares of Viking by 16.8% in the 4th quarter. Wells Fargo & Company MN now owns 82,602 shares of the company's stock worth $3,639,000 after purchasing an additional 11,891 shares in the last quarter. Barclays PLC increased its stake in shares of Viking by 134,156.0% in the 4th quarter. Barclays PLC now owns 67,128 shares of the company's stock worth $2,958,000 after purchasing an additional 67,078 shares in the last quarter. Commerce Bank increased its stake in shares of Viking by 7.9% in the 4th quarter. Commerce Bank now owns 8,537 shares of the company's stock worth $376,000 after purchasing an additional 625 shares in the last quarter. Finally, Capital Research Global Investors increased its stake in shares of Viking by 26.0% in the 4th quarter. Capital Research Global Investors now owns 12,086,045 shares of the company's stock worth $532,511,000 after purchasing an additional 2,492,724 shares in the last quarter. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Viking Trading Down 1.7%

Shares of NYSE:VIK traded down $1.0530 during trading on Tuesday, reaching $59.1470. The company's stock had a trading volume of 5,593,632 shares, compared to its average volume of 3,188,194. Viking Holdings Ltd. has a 12 month low of $30.75 and a 12 month high of $60.97. The firm's 50 day simple moving average is $55.18 and its two-hundred day simple moving average is $47.92. The stock has a market capitalization of $26.21 billion, a PE ratio of 48.09, a price-to-earnings-growth ratio of 0.70 and a beta of 2.40.

Viking (NYSE:VIK - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The company reported $0.99 EPS for the quarter, missing analysts' consensus estimates of $1.00 by ($0.01). Viking had a net margin of 9.60% and a negative return on equity of 128.44%. During the same quarter in the prior year, the company posted $0.89 earnings per share. The business's revenue for the quarter was up 18.5% on a year-over-year basis. Research analysts anticipate that Viking Holdings Ltd. will post 1.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on VIK. The Goldman Sachs Group reduced their price objective on Viking from $51.00 to $44.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. upped their target price on shares of Viking from $58.00 to $61.00 and gave the stock an "overweight" rating in a report on Wednesday, May 21st. Truist Financial upped their target price on shares of Viking from $50.00 to $55.00 and gave the stock a "hold" rating in a report on Monday, July 21st. Wall Street Zen downgraded shares of Viking from a "strong-buy" rating to a "buy" rating in a report on Friday, June 6th. Finally, Northcoast Research assumed coverage on shares of Viking in a report on Friday, April 25th. They issued a "buy" rating and a $51.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Viking presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.00.

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.