Forest Avenue Capital Management LP Purchases Shares of 1,709,126 Viking Holdings Ltd (NYSE:VIK)

Forest Avenue Capital Management LP acquired a new stake in shares of Viking Holdings Ltd (NYSE:VIK) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,709,126 shares of the company’s stock, valued at approximately $58,008,000. Viking makes up approximately 8.0% of Forest Avenue Capital Management LP’s portfolio, making the stock its biggest holding. Forest Avenue Capital Management LP owned about 0.40% of Viking as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. U.S. Capital Wealth Advisors LLC purchased a new stake in Viking in the second quarter valued at $2,226,000. Canada Pension Plan Investment Board purchased a new position in Viking during the second quarter valued at approximately $2,063,879,000. Allspring Global Investments Holdings LLC acquired a new position in Viking in the second quarter valued at approximately $11,685,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Viking in the 2nd quarter worth approximately $1,004,000. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Viking during the 2nd quarter valued at approximately $1,597,000.

Viking Price Performance

Shares of NYSE:VIK opened at $34.43 on Friday. The business’s 50-day simple moving average is $34.19. Viking Holdings Ltd has a 12-month low of $25.71 and a 12-month high of $37.25.

Viking (NYSE:VIK) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.61 billion. On average, sell-side analysts forecast that Viking Holdings Ltd will post 1.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Bank of America increased their price target on shares of Viking from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Wells Fargo & Company increased their target price on shares of Viking from $35.00 to $39.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. UBS Group started coverage on Viking in a report on Tuesday, May 28th. They issued a “buy” rating and a $35.00 price target for the company. Redburn Atlantic assumed coverage on Viking in a report on Tuesday, May 28th. They issued a “neutral” rating and a $29.00 price objective on the stock. Finally, Stifel Nicolaus upped their target price on Viking from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.17.

Viking 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.