Cumberland Partners Ltd Sells 35,000 Shares of Viking Holdings Ltd. $VIK

Cumberland Partners Ltd lessened its stake in shares of Viking Holdings Ltd. (NYSE:VIK) by 50.0% in the first quarter, Holdings Channel reports. The institutional investor owned 35,000 shares of the company’s stock after selling 35,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Viking were worth $2,572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Entropy Technologies LP lifted its stake in Viking by 31.7% in the 1st quarter. Entropy Technologies LP now owns 11,912 shares of the company’s stock worth $875,000 after purchasing an additional 2,864 shares in the last quarter. Hilltop Holdings Inc. increased its holdings in shares of Viking by 5.1% in the first quarter. Hilltop Holdings Inc. now owns 13,009 shares of the company’s stock worth $956,000 after purchasing an additional 628 shares during the period. Bank of Nova Scotia increased its holdings in shares of Viking by 33.5% in the first quarter. Bank of Nova Scotia now owns 436,651 shares of the company’s stock worth $32,085,000 after purchasing an additional 109,471 shares during the period. Gibbs Wealth Management purchased a new stake in shares of Viking in the first quarter worth $436,000. Finally, Sei Investments Co. raised its position in shares of Viking by 42.6% in the first quarter. Sei Investments Co. now owns 454,872 shares of the company’s stock worth $33,424,000 after buying an additional 135,780 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.

Key Viking News

Here are the key news stories impacting Viking this week:

• Positive Sentiment: Viking revealed the names of its next two ocean ships, reinforcing the company’s growth pipeline and ongoing fleet expansion strategy, which can support longer-term revenue visibility. Viking Reveals Names of Its Next Two Ocean Ships
• Neutral Sentiment: Several articles covered a dispute involving a different “Viking ship” tied to the film The Odyssey; this appears unrelated to Viking Holdings’ cruise business and is unlikely to have a meaningful impact on VIK shares. ‘The Odyssey’ Hired Their Viking Ship. They Say It Came Back Damaged.
• Neutral Sentiment: Other history-focused “Viking” stories about ancient burials, treasure, and swords are not related to Viking Holdings’ operations and should not affect the stock. New evidence shows ‘Viking burials’ predate Vikings
• Neutral Sentiment: A cruise-industry note about guests receiving an overbooking offer suggests continued demand management in the sector, but it does not appear to be a major catalyst on its own. Viking Cruise Guests Stunned by Generous Overbooking Offer

Viking Price Performance

VIK opened at $100.87 on Friday. The stock has a 50-day moving average price of $95.18 and a 200-day moving average price of $82.36. Viking Holdings Ltd. has a 12-month low of $55.55 and a 12-month high of $105.76. The company has a current ratio of 0.78, a quick ratio of 0.76 and a debt-to-equity ratio of 5.27. The stock has a market capitalization of $44.96 billion, a P/E ratio of 37.50, a PEG ratio of 1.14 and a beta of 1.48.

Viking (NYSE:VIK) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Viking had a return on equity of 149.40% and a net margin of 18.00%.Viking’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.24) EPS. Equities analysts predict that Viking Holdings Ltd. will post 3.32 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Richard Marnell sold 6,120 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $94.30, for a total transaction of $577,116.00. Following the transaction, the executive vice president owned 110,930 shares of the company’s stock, valued at approximately $10,460,699. This trade represents a 5.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders have sold 17,566 shares of company stock valued at $1,640,166.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Sanford C. Bernstein began coverage on Viking in a research report on Wednesday, June 3rd. They set an “outperform” rating and a $120.00 target price for the company. The Goldman Sachs Group lifted their price target on Viking from $95.00 to $108.00 and gave the company a “buy” rating in a research report on Tuesday, July 14th. BNP Paribas Exane reissued an “outperform” rating and set a $121.00 price objective (up from $104.00) on shares of Viking in a report on Tuesday, July 14th. Barclays upped their price objective on shares of Viking from $88.00 to $93.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Finally, Loop Capital began coverage on shares of Viking in a research report on Monday, June 1st. They set a “buy” rating and a $108.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $103.39.

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.