Viking Holdings Ltd’s (NYSE:VIK) Lock-Up Period Will End on October 28th

Viking’s (NYSE:VIK) lock-up period is set to end on Monday, October 28th. Viking had issued 64,041,668 shares in its initial public offering on May 1st. The total size of the offering was $1,537,000,032 based on an initial share price of $24.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the end of the lock-up period.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of Viking from $33.00 to $35.00 and gave the company an “equal weight” rating in a report on Tuesday, August 20th. Barclays began coverage on shares of Viking in a research note on Tuesday, July 2nd. They set an “overweight” rating and a $39.00 price objective on the stock. HSBC began coverage on shares of Viking in a research note on Tuesday, June 25th. They set a “buy” rating and a $36.00 target price for the company. Wells Fargo & Company boosted their price target on Viking from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. raised their price objective on Viking from $37.00 to $42.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Viking presently has a consensus rating of “Moderate Buy” and an average price target of $37.17.

Viking Stock Down 1.1 %

Shares of NYSE:VIK opened at $38.97 on Monday. The stock has a 50-day simple moving average of $34.88. Viking has a fifty-two week low of $25.71 and a fifty-two week high of $39.70.

Viking (NYSE:VIK) last released its quarterly earnings data on Thursday, August 22nd. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.07. The company had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Sell-side analysts forecast that Viking will post 1.13 earnings per share for the current year.

Hedge Funds Weigh In On Viking

Several large investors have recently added to or reduced their stakes in VIK. Canada Pension Plan Investment Board purchased a new position in shares of Viking in the second quarter valued at about $2,063,879,000. Select Equity Group L.P. bought a new stake in Viking during the 2nd quarter valued at approximately $145,989,000. Massachusetts Financial Services Co. MA purchased a new position in Viking in the 2nd quarter worth approximately $73,247,000. Forest Avenue Capital Management LP bought a new position in Viking in the 2nd quarter worth approximately $58,008,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Viking by 282.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,315,450 shares of the company’s stock worth $45,896,000 after purchasing an additional 971,152 shares during the period.

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.