Viking (NYSE:VIK) Shares Gap Down – Here’s What Happened

Viking Holdings Ltd (NYSE:VIK)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $47.08, but opened at $44.10. Viking shares last traded at $44.25, with a volume of 1,191,073 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have issued reports on VIK shares. The Goldman Sachs Group decreased their target price on shares of Viking from $51.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley reduced their price target on Viking from $49.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, April 10th. Northcoast Research began coverage on Viking in a report on Friday, April 25th. They issued a “buy” rating and a $51.00 price objective on the stock. Truist Financial raised their price objective on shares of Viking from $49.00 to $50.00 and gave the company a “hold” rating in a research report on Friday, March 14th. Finally, Redburn Atlantic upgraded shares of Viking to a “hold” rating in a research note on Tuesday, April 1st. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $46.89.

Viking Price Performance

The stock’s fifty day simple moving average is $40.93 and its 200-day simple moving average is $44.52. The company has a market capitalization of $19.27 billion and a P/E ratio of 171.43.

Viking (NYSE:VIK) last posted its quarterly earnings data on Tuesday, May 20th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.26) by $0.02. During the same period last year, the firm posted ($1.21) EPS. The company’s revenue was up 24.9% on a year-over-year basis. On average, research analysts predict that Viking Holdings Ltd will post 1.49 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Zimmer Partners LP acquired a new position in Viking during the 1st quarter valued at $3,975,000. Sciencast Management LP bought a new position in shares of Viking during the 1st quarter worth about $291,000. Select Equity Group L.P. raised its position in shares of Viking by 8.0% during the first quarter. Select Equity Group L.P. now owns 18,656,810 shares of the company’s stock valued at $741,608,000 after buying an additional 1,376,899 shares during the last quarter. Pentwater Capital Management LP acquired a new stake in Viking during the first quarter worth about $795,000. Finally, NewEdge Advisors LLC grew its position in Viking by 92.0% during the first quarter. NewEdge Advisors LLC now owns 1,440 shares of the company’s stock worth $57,000 after buying an additional 690 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors and hedge funds.

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.