Spire Wealth Management Purchases New Position in Viking Holdings Ltd. $VIK

Spire Wealth Management purchased a new stake in Viking Holdings Ltd. (NYSE:VIK) in the second quarter, HoldingsChannel reports. The fund purchased 14,805 shares of the company’s stock, valued at approximately $789,000.

A number of other institutional investors have also recently made changes to their positions in the business. Wealth Management Associates Inc. bought a new position in shares of Viking in the 2nd quarter valued at about $250,000. Envestnet Asset Management Inc. raised its position in Viking by 6.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 29,179 shares of the company’s stock worth $1,555,000 after purchasing an additional 1,766 shares during the period. Atlatl Advisers LLC purchased a new stake in Viking in the 2nd quarter worth about $285,000. Sumitomo Mitsui Trust Group Inc. raised its position in Viking by 14.4% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 44,847 shares of the company’s stock worth $2,390,000 after purchasing an additional 5,647 shares during the period. Finally, R Squared Ltd purchased a new stake in Viking in the 2nd quarter worth about $385,000. Institutional investors own 98.84% of the company’s stock.

Viking Price Performance

NYSE VIK opened at $60.85 on Friday. The company has a debt-to-equity ratio of 19.33, a quick ratio of 0.62 and a current ratio of 0.64. The firm’s 50 day moving average price is $61.39 and its 200-day moving average price is $54.29. Viking Holdings Ltd. has a 52-week low of $31.79 and a 52-week high of $65.37. The company has a market cap of $26.97 billion, a PE ratio of 32.89, a P/E/G ratio of 0.71 and a beta of 2.24.

Viking (NYSE:VIK) last released its quarterly earnings data 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). Viking had a net margin of 13.99% and a negative return on equity of 374.71%. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same quarter in the prior year, the business posted $0.89 earnings per share. Viking’s revenue for the quarter was up 18.5% on a year-over-year basis. Sell-side analysts forecast that Viking Holdings Ltd. will post 1.49 EPS for the current fiscal year.

Analyst Ratings Changes

VIK has been the topic of a number of recent analyst reports. Citigroup increased their price objective on shares of Viking from $57.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Mizuho initiated coverage on shares of Viking in a research report on Friday, October 10th. They issued an “underperform” rating and a $54.00 price objective on the stock. Wall Street Zen lowered shares of Viking from a “buy” rating to a “hold” rating in a research report on Friday, August 22nd. Jefferies Financial Group increased their price objective on shares of Viking from $45.00 to $52.00 and gave the stock a “hold” rating in a research report on Monday, July 7th. Finally, Bank of America raised their target price on shares of Viking from $51.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 23rd. Nine equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.