Crestwood Capital Management L.P. Raises Position in Viking Holdings Ltd. (NYSE:VIK)

Key Points

• Crestwood Capital Management L.P. increased its stake in Viking Holdings Ltd. by 19.6%, now owning 426,522 shares, which accounts for 13.0% of its portfolio.
• Viking Holdings reported a positive earnings surprise with EPS of -$0.24, exceeding estimates, and a revenue increase of 24.9% year-over-year, reaching $897.06 million.
• Several research analysts have upgraded their ratings and price targets for Viking, with Bank of America raising its target from $51.00 to $70.00 and maintaining a "buy" rating.

Crestwood Capital Management L.P. grew its holdings in Viking Holdings Ltd. (NYSE:VIK - Free Report) by 19.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 426,522 shares of the company's stock after purchasing an additional 70,000 shares during the period. Viking makes up about 13.0% of Crestwood Capital Management L.P.'s portfolio, making the stock its 2nd biggest position. Crestwood Capital Management L.P. owned about 0.10% of Viking worth $16,954,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Costello Asset Management INC bought a new stake in Viking during the 1st quarter worth $33,000. Harbour Investments Inc. grew its position in Viking by 37.2% during the 1st quarter. Harbour Investments Inc. now owns 1,277 shares of the company's stock worth $51,000 after acquiring an additional 346 shares during the last quarter. Quarry LP bought a new stake in Viking during the 4th quarter worth $66,000. Orion Capital Management LLC bought a new stake in Viking during the 4th quarter worth $110,000. Finally, Golden State Wealth Management LLC grew its position in Viking by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 3,300 shares of the company's stock worth $131,000 after acquiring an additional 1,650 shares during the last quarter. Institutional investors own 98.84% of the company's stock.

Viking Stock Performance

VIK stock opened at $60.06 on Thursday. The stock's 50 day simple moving average is $54.47 and its 200 day simple moving average is $47.73. Viking Holdings Ltd. has a fifty-two week low of $30.75 and a fifty-two week high of $60.44. The company has a market cap of $26.61 billion, a P/E ratio of 48.83, a price-to-earnings-growth ratio of 0.70 and a beta of 2.40.

Viking (NYSE:VIK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 20th. The company reported ($0.24) earnings per share for the quarter, topping analysts' consensus estimates of ($0.26) by $0.02. Viking had a negative return on equity of 128.44% and a net margin of 9.60%. The business had revenue of $897.06 million for the quarter, compared to the consensus estimate of $841.18 million. During the same period in the prior year, the business earned ($1.21) EPS. The firm's revenue for the quarter was up 24.9% on a year-over-year basis. Equities analysts predict that Viking Holdings Ltd. will post 1.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Viking from $58.00 to $61.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 21st. Bank of America upped their price target on Viking from $51.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Wall Street Zen downgraded Viking from a "strong-buy" rating to a "buy" rating in a research report on Friday, June 6th. Citigroup raised their price objective on Viking from $57.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Finally, Melius Research set a $51.00 price objective on Viking in a research report on Monday, April 21st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.33.

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.

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