Viking (NYSE:VIK) Sees Unusually-High Trading Volume – Here’s Why

Shares of Viking Holdings Ltd (NYSE:VIK) saw strong trading volume on Wednesday . 2,293,280 shares traded hands during trading, an increase of 25% from the previous session’s volume of 1,830,928 shares.The stock last traded at $44.34 and had previously closed at $43.41.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Stifel Nicolaus raised their price target on Viking from $39.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Barclays restated an “equal weight” rating and set a $49.00 target price on shares of Viking in a report on Friday, December 13th. Truist Financial boosted their target price on Viking from $38.00 to $49.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Citigroup assumed coverage on shares of Viking in a research report on Thursday, December 19th. They issued a “buy” rating and a $54.00 price target on the stock. Finally, Morgan Stanley upgraded shares of Viking from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $37.00 to $49.00 in a report on Tuesday, November 12th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $44.08.

Viking Trading Up 1.3 %

The company’s 50-day moving average price is $44.96 and its 200-day moving average price is $38.80.

Hedge Funds Weigh In On Viking

A number of large investors have recently added to or reduced their stakes in VIK. Canada Pension Plan Investment Board bought a new stake in shares of Viking in the second quarter valued at about $2,063,879,000. FMR LLC lifted its stake in Viking by 27.8% in the 3rd quarter. FMR LLC now owns 6,979,454 shares of the company’s stock valued at $243,513,000 after acquiring an additional 1,518,773 shares in the last quarter. Select Equity Group L.P. bought a new stake in Viking in the 2nd quarter valued at approximately $145,989,000. Franklin Resources Inc. grew its stake in shares of Viking by 25.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,090,768 shares of the company’s stock worth $154,931,000 after acquiring an additional 836,353 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Viking by 36.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,951,929 shares of the company’s stock valued at $102,993,000 after purchasing an additional 793,795 shares during the last quarter. Institutional investors own 98.84% of the company’s stock.

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.