Viking (NYSE:VIK) Hits New 12-Month High - Here's What Happened

Viking Holdings Ltd (NYSE:VIK - Get Free Report)'s share price hit a new 52-week high on Wednesday . The stock traded as high as $50.20 and last traded at $49.30, with a volume of 716582 shares trading hands. The stock had previously closed at $49.06.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on VIK. Morgan Stanley upgraded shares of Viking from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $37.00 to $49.00 in a research report on Tuesday, November 12th. Citigroup initiated coverage on shares of Viking in a report on Thursday, December 19th. They set a "buy" rating and a $54.00 price target for the company. Stifel Nicolaus lifted their price target on shares of Viking from $39.00 to $50.00 and gave the company a "buy" rating in a report on Monday, November 18th. JPMorgan Chase & Co. lifted their price target on shares of Viking from $50.00 to $58.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Finally, The Goldman Sachs Group initiated coverage on shares of Viking in a report on Wednesday, January 22nd. They set a "neutral" rating and a $49.00 price target for the company. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.43.

Viking Stock Performance

The stock's 50-day moving average price is $45.48 and its 200-day moving average price is $39.67.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC boosted its position in shares of Viking by 27.8% in the 3rd quarter. FMR LLC now owns 6,979,454 shares of the company's stock worth $243,513,000 after purchasing an additional 1,518,773 shares during the last quarter. Franklin Resources Inc. increased its stake in Viking by 25.7% in the third quarter. Franklin Resources Inc. now owns 4,090,768 shares of the company's stock valued at $154,931,000 after purchasing an additional 836,353 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in 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 in the last quarter. D1 Capital Partners L.P. increased its stake in Viking by 192.9% in the third quarter. D1 Capital Partners L.P. now owns 2,586,161 shares of the company's stock valued at $90,231,000 after purchasing an additional 1,703,301 shares in the last quarter. Finally, Forest Avenue Capital Management LP increased its stake in Viking by 11.4% in the third quarter. Forest Avenue Capital Management LP now owns 1,903,208 shares of the company's stock valued at $66,403,000 after purchasing an additional 194,082 shares in the last quarter. 98.84% of the stock is currently owned by institutional investors.

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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