Viking (NYSE:VIK) Trading Down 3.6% – What’s Next?

Shares of Viking Holdings Ltd (NYSE:VIK) were down 3.6% during mid-day trading on Friday . The stock traded as low as $42.01 and last traded at $42.25. Approximately 896,978 shares traded hands during trading, a decline of 21% from the average daily volume of 1,140,058 shares. The stock had previously closed at $43.81.

Analyst Ratings Changes

VIK has been the subject of several research analyst reports. Barclays reaffirmed an “equal weight” rating and issued a $49.00 price target on shares of Viking in a research note on Friday, December 13th. Bank of America raised their target price on Viking from $40.00 to $51.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Stifel Nicolaus lifted their price objective on shares of Viking from $39.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Truist Financial raised 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. Finally, Morgan Stanley upgraded Viking from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $37.00 to $49.00 in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $42.85.

Viking Stock Performance

The company has a 50-day moving average of $44.34 and a 200 day moving average of $37.99.

Hedge Funds Weigh In On Viking

Institutional investors and hedge funds have recently made changes to their positions in the stock. Avior Wealth Management LLC acquired a new stake in Viking in the third quarter valued at $27,000. Valley Wealth Managers Inc. acquired a new stake in Viking during the second quarter worth about $35,000. Sunbelt Securities Inc. acquired a new stake in Viking in the second quarter valued at approximately $68,000. SG Americas Securities LLC acquired a new stake in shares of Viking in the 3rd quarter valued at about $181,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Viking in the third quarter worth about $187,000. 98.84% of the stock is owned by institutional investors and hedge funds.

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.