Viking (NYSE:VIK) Sees Strong Trading Volume - Here's What Happened

Viking Holdings Ltd (NYSE:VIK - Get Free Report) shares saw strong trading volume on Wednesday . 2,293,280 shares traded hands during mid-day 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.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on VIK shares. Barclays reissued an "equal weight" rating and issued a $49.00 price objective on shares of Viking in a report on Friday, December 13th. Morgan Stanley raised Viking from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $37.00 to $49.00 in a research report on Tuesday, November 12th. Truist Financial lifted their price objective on Viking from $38.00 to $49.00 and gave the company a "hold" rating in a report on Monday, December 2nd. Bank of America increased their target price on Viking from $40.00 to $51.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus boosted their price target on Viking from $39.00 to $50.00 and gave the company a "buy" rating in a research note on Monday, November 18th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $42.85.

Viking Stock Up 2.3 %

The business's 50 day moving average price is $44.90 and its two-hundred day moving average price is $38.72.

Institutional Trading of Viking

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