Viking Holdings Ltd. $VIK Shares Sold by Congress Asset Management Co.

Key Points

• Congress Asset Management Co. reduced its Viking Holdings stake by 98.4% in the third quarter, selling 814,533 shares and retaining 13,302 shares worth approximately $1.04 million.
• Institutional investors and hedge funds own 98.84% of Viking’s stock, with Wellington Management increasing its position by 654.3% and Bank of America boosting its stake by 41.0%.
• Analysts remain generally bullish, with a consensus “Moderate Buy” rating and an average price target of $106.83. Viking also exceeded quarterly earnings and revenue estimates, reporting $1.31 EPS and $2.19 billion in revenue, up 16.5% year over year.

Congress Asset Management Co. cut its holdings in Viking Holdings Ltd. (NYSE:VIK - Free Report) by 98.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,302 shares of the company's stock after selling 814,533 shares during the quarter. Congress Asset Management Co.'s holdings in Viking were worth $1,042,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in shares of Viking by 654.3% during the 2nd quarter. Wellington Management Group LLP now owns 6,157,982 shares of the company's stock worth $644,556,000 after purchasing an additional 5,341,580 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Viking by 41.0% in the 1st quarter. Bank of America Corp DE now owns 2,227,293 shares of the company's stock valued at $163,661,000 after purchasing an additional 647,606 shares in the last quarter. Evercore Wealth Management LLC increased its holdings in shares of Viking by 0.9% in the 1st quarter. Evercore Wealth Management LLC now owns 1,672,216 shares of the company's stock valued at $122,874,000 after purchasing an additional 14,465 shares in the last quarter. Sculptor Capital LP lifted its stake in shares of Viking by 26.9% in the fourth quarter. Sculptor Capital LP now owns 1,500,000 shares of the company's stock valued at $107,115,000 after purchasing an additional 318,000 shares during the period. Finally, 140 Summer Partners LP lifted its stake in shares of Viking by 7.5% in the fourth quarter. 140 Summer Partners LP now owns 942,526 shares of the company's stock valued at $67,306,000 after purchasing an additional 65,782 shares during the period. Institutional investors and hedge funds own 98.84% of the company's stock.

Insider Buying and Selling

In related news, EVP Milton Hugh sold 20,000 shares of the business's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $85.57, for a total value of $1,711,400.00. Following the completion of the transaction, the executive vice president owned 585,571 shares of the company's stock, valued at approximately $50,107,310.47. The trade was a 3.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VIK. BMO Capital Markets reissued an "outperform" rating on shares of Viking in a research note on Wednesday, August 26th. Weiss Ratings raised Viking from a "hold (c)" rating to a "buy (b-)" rating in a research note on Thursday, August 27th. Benchmark raised Viking to a "strong-buy" rating in a report on Friday, September 25th. BNP Paribas Exane reaffirmed an "outperform" rating and set a $121.00 price target (up from $104.00) on shares of Viking in a research note on Tuesday, July 14th. Finally, Jefferies Financial Group boosted their price objective on shares of Viking from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $106.83.

Viking Price Performance

Shares of NYSE:VIK opened at $81.55 on Friday. The business's fifty day moving average price is $89.73 and its two-hundred day moving average price is $89.09. The stock has a market cap of $36.35 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 0.96 and a beta of 1.47. The company has a debt-to-equity ratio of 3.61, a quick ratio of 0.79 and a current ratio of 0.81. Viking Holdings Ltd. has a one year low of $56.37 and a one year high of $110.09.

Viking (NYSE:VIK - Get Free Report) last released its quarterly earnings results on Thursday, August 20th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.05. Viking had a return on equity of 117.98% and a net margin of 19.33%.The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the business posted $0.99 earnings per share. Viking's revenue was up 16.5% compared to the same quarter last year. On average, analysts forecast that Viking Holdings Ltd. will post 3.19 EPS for the current fiscal year.

About Viking

Viking Holdings Ltd. is a travel and hospitality company that operates a fleet of river, ocean and expedition cruise vessels under the Viking brand. The company focuses on destination-oriented travel for adults, offering itineraries that combine cruise accommodations with cultural, historical and nature-based experiences.

Viking's river cruises operate on waterways in Europe, including the Rhine, Danube, Seine, Rhône and Douro, as well as in other regions such as Asia, Egypt and the Mississippi River in the United States.

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