Forest Avenue Capital Management LP Sells 459,974 Shares of Viking Holdings Ltd. $VIK

Key Points

• Forest Avenue Capital Management LP has reduced its stake in Viking Holdings Ltd. by 24.2%, holding approximately 1.4 million shares after selling nearly 460,000 shares in Q1.
• Viking's stock has received multiple analyst upgrades, raising target prices from various firms, with Bank of America setting a target of $70.00 and Morgan Stanley at $66.00.
• Viking reported $1.88 billion in revenue for the last quarter, exceeding estimates, despite EPS falling short of consensus by $0.01.

Forest Avenue Capital Management LP lessened its position in Viking Holdings Ltd. (NYSE:VIK - Free Report) by 24.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,437,941 shares of the company's stock after selling 459,974 shares during the quarter. Viking makes up 7.7% of Forest Avenue Capital Management LP's investment portfolio, making the stock its 6th largest holding. Forest Avenue Capital Management LP owned approximately 0.33% of Viking worth $57,158,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Costello Asset Management INC purchased a new position in Viking in the first quarter valued at $33,000. Harbour Investments Inc. boosted its holdings in Viking by 37.2% in the first quarter. Harbour Investments Inc. now owns 1,277 shares of the company's stock valued at $51,000 after purchasing an additional 346 shares during the period. Quarry LP purchased a new position in Viking in the fourth quarter valued at $66,000. Orion Capital Management LLC purchased a new position in Viking in the fourth quarter valued at $110,000. Finally, Golden State Wealth Management LLC boosted its holdings in Viking by 100.0% in the first quarter. Golden State Wealth Management LLC now owns 3,300 shares of the company's stock valued at $131,000 after purchasing an additional 1,650 shares during the period. 98.84% of the stock is currently owned by hedge funds and other institutional investors.

Viking Stock Performance

VIK stock traded up $1.70 during trading on Tuesday, reaching $61.75. 1,844,499 shares of the company's stock were exchanged, compared to its average volume of 2,961,743. Viking Holdings Ltd. has a 1-year low of $30.75 and a 1-year high of $61.81. The company's fifty day moving average price is $56.62 and its 200-day moving average price is $48.27. The firm has a market cap of $27.36 billion, a PE ratio of 28.73, a P/E/G ratio of 0.71 and a beta of 2.40. The company has a quick ratio of 0.62, a current ratio of 0.64 and a debt-to-equity ratio of 19.33.

Viking (NYSE:VIK - Get Free Report) last issued its earnings results on Tuesday, August 19th. The company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.01). Viking had a negative return on equity of 374.71% and a net margin of 13.99%.The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.84 billion. During the same period last year, the business earned $0.89 EPS. The business's quarterly revenue was up 18.5% on a year-over-year basis. On average, research analysts expect that Viking Holdings Ltd. will post 1.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

VIK has been the subject of a number of recent research reports. Morgan Stanley lifted their target price on Viking from $62.00 to $66.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Wall Street Zen lowered Viking from a "buy" rating to a "hold" rating in a report on Friday. Citigroup raised their target price on Viking from $57.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Barclays upped their price target on Viking from $45.00 to $55.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Finally, JPMorgan Chase & Co. upped their target price on Viking from $58.00 to $61.00 and gave the company an "overweight" rating in a report on Wednesday, May 21st. Ten research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $57.20.

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.