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

Forest Avenue Capital Management LP raised its stake in Viking Holdings Ltd (NYSE:VIK) by 11.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,903,208 shares of the company’s stock after acquiring an additional 194,082 shares during the period. Viking comprises 8.1% of Forest Avenue Capital Management LP’s holdings, making the stock its 3rd largest position. Forest Avenue Capital Management LP’s holdings in Viking were worth $66,403,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in VIK. Avior Wealth Management LLC bought a new stake in shares of Viking in the third quarter worth about $27,000. Valley Wealth Managers Inc. bought a new position in Viking during the 2nd quarter valued at approximately $35,000. Sunbelt Securities Inc. purchased a new stake in Viking in the 2nd quarter worth approximately $68,000. American National Bank bought a new stake in shares of Viking in the 2nd quarter worth approximately $68,000. Finally, SG Americas Securities LLC purchased a new position in shares of Viking during the third quarter valued at approximately $181,000.

Wall Street Analysts Forecast Growth

Several research analysts have commented on VIK shares. 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, November 12th. Wells Fargo & Company increased their price target 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. JPMorgan Chase & Co. lifted 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. Bank of America upped their target price on Viking from $40.00 to $51.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Barclays raised their target price on Viking from $43.00 to $49.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.00.

Viking Stock Performance

Viking stock opened at $47.22 on Wednesday. The stock’s 50 day moving average is $39.31 and its 200 day moving average is $35.08. Viking Holdings Ltd has a twelve month low of $25.71 and a twelve month high of $47.52.

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.