Millennium Management LLC Lowers Stock Position in Viking Holdings Ltd. $VIK

Key Points

• Millennium Management LLC reduced its stake in Viking Holdings Ltd. by 39.9%, selling 874,438 shares and now holding approximately 1,316,509 shares worth around $52.3 million.
• Viking reported $0.99 EPS, missing the consensus estimate by $0.01, with total revenue of $1.88 billion, exceeding expectations.
• Following recent performance, several research firms have adjusted their price targets for Viking, with Barclays and JPMorgan both raising their target to $61.00, while Stifel Nicolaus set a target of $75.00.

Millennium Management LLC lowered its position in shares of Viking Holdings Ltd. (NYSE:VIK - Free Report) by 39.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,316,509 shares of the company's stock after selling 874,438 shares during the quarter. Millennium Management LLC owned about 0.31% of Viking worth $52,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC lifted its position in Viking by 1.7% during the first quarter. Cerity Partners LLC now owns 19,105 shares of the company's stock valued at $759,000 after buying an additional 324 shares during the period. Harbour Investments Inc. increased its holdings in shares of Viking by 37.2% during the first quarter. Harbour Investments Inc. now owns 1,277 shares of the company's stock valued at $51,000 after acquiring an additional 346 shares in the last quarter. Commerce Bank increased its holdings in shares of Viking by 4.7% during the first quarter. Commerce Bank now owns 8,936 shares of the company's stock valued at $355,000 after acquiring an additional 399 shares in the last quarter. Costello Asset Management INC bought a new position in shares of Viking during the first quarter valued at $33,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Viking by 100.0% during the first 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 in the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Viking Stock Performance

Shares of Viking stock traded down $1.99 during trading hours on Friday, reaching $63.33. 1,122,888 shares of the stock traded hands, compared to its average volume of 3,103,172. The company has a 50 day moving average price of $59.38 and a 200 day moving average price of $49.32. The firm has a market capitalization of $28.06 billion, a price-to-earnings ratio of 34.23, a P/E/G ratio of 0.74 and a beta of 2.40. Viking Holdings Ltd. has a one year low of $31.79 and a one year high of $65.37. The company has a quick ratio of 0.62, a current ratio of 0.64 and a debt-to-equity ratio of 19.33.

Viking (NYSE:VIK - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The company reported $0.99 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.00 by ($0.01). The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.84 billion. Viking had a net margin of 13.99% and a negative return on equity of 374.71%. The company's revenue for the quarter was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 earnings per share. On average, equities research analysts expect that Viking Holdings Ltd. will post 1.49 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Truist Financial raised their price target on Viking from $50.00 to $55.00 and gave the company a "hold" rating in a report on Monday, July 21st. Morgan Stanley raised their price target on Viking from $62.00 to $66.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Stifel Nicolaus raised their price target on Viking from $50.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, August 14th. Citigroup raised their price target on Viking from $57.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Finally, Bank of America lifted their price objective on Viking from $51.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, July 23rd. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $58.93.

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.