Forest Avenue Capital Management LP Boosts Holdings in Viking Holdings Ltd (NYSE:VIK)

Forest Avenue Capital Management LP increased its holdings in Viking Holdings Ltd (NYSE:VIK) by 11.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,903,208 shares of the company’s stock after buying an additional 194,082 shares during the period. Viking accounts for 8.1% of Forest Avenue Capital Management LP’s investment portfolio, making the stock its 3rd biggest position. Forest Avenue Capital Management LP owned approximately 0.44% of Viking worth $66,403,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Avior Wealth Management LLC bought a new stake in shares of Viking during the third quarter valued at about $27,000. Valley Wealth Managers Inc. bought a new stake in Viking during the 2nd quarter worth approximately $35,000. American National Bank purchased a new stake in Viking in the 2nd quarter worth approximately $68,000. Sunbelt Securities Inc. bought a new position in Viking in the 2nd quarter valued at $68,000. Finally, SG Americas Securities LLC purchased a new position in shares of Viking during the 3rd quarter valued at $181,000.

Viking Stock Up 3.1 %

Shares of Viking stock opened at $47.22 on Wednesday. The company has a fifty day moving average of $39.31 and a 200-day moving average of $35.08. Viking Holdings Ltd has a 52-week low of $25.71 and a 52-week high of $47.52.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on VIK. Barclays increased their price objective on Viking from $43.00 to $49.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Morgan Stanley upgraded Viking from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $37.00 to $49.00 in a research report on Tuesday, November 12th. Wells Fargo & Company boosted their price objective on Viking from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. JPMorgan Chase & Co. raised their target price on shares of Viking from $37.00 to $42.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Stifel Nicolaus lifted their target price on shares of Viking from $39.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Viking presently has an average rating of “Moderate Buy” and an average target price of $41.00.

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.