Viking Holdings Ltd (NYSE:VIK) Sees Significant Drop in Short Interest

Viking Holdings Ltd (NYSE:VIK) was the target of a large decline in short interest in the month of October. As of October 31st, there was short interest totalling 584,000 shares, a decline of 64.0% from the October 15th total of 1,620,000 shares. Based on an average daily volume of 1,920,000 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.4% of the company’s shares are short sold.

Analysts Set New Price Targets

Several brokerages recently weighed in on VIK. JPMorgan Chase & Co. upped their price target on Viking from $37.00 to $42.00 and gave the stock an “overweight” rating in a research note on Thursday, August 22nd. Barclays lifted their price target on shares of Viking from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Morgan Stanley upgraded shares of Viking from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $37.00 to $49.00 in a report on Tuesday. Wells Fargo & Company upped their price target on Viking from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Finally, Bank of America increased their target price on Viking from $40.00 to $51.00 and gave the stock a “buy” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.58.

Viking Stock Performance

Shares of VIK traded down $0.45 during mid-day trading on Friday, reaching $45.34. The stock had a trading volume of 1,909,652 shares, compared to its average volume of 1,866,751. The business has a fifty day moving average of $37.76 and a 200 day moving average of $34.38. Viking has a 12 month low of $25.71 and a 12 month high of $46.25.

Viking (NYSE:VIK) last issued its earnings results on Thursday, August 22nd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.61 billion. Equities analysts forecast that Viking will post 1.12 earnings per share for the current fiscal year.

Institutional Trading of Viking

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd grew its holdings in Viking by 120.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 23,356 shares of the company’s stock valued at $815,000 after buying an additional 12,771 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Viking during the 3rd quarter valued at approximately $1,344,000. Zimmer Partners LP increased its position in Viking by 70.0% in the third quarter. Zimmer Partners LP now owns 1,062,500 shares of the company’s stock worth $37,071,000 after purchasing an additional 437,500 shares during the last quarter. Soros Fund Management LLC increased its position in Viking by 15.4% in the third quarter. Soros Fund Management LLC now owns 750,000 shares of the company’s stock worth $26,168,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in Viking by 64.5% during the third quarter. Stifel Financial Corp now owns 12,428 shares of the company’s stock valued at $434,000 after purchasing an additional 4,875 shares in the last quarter.

Viking Company Profile

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.