Viking (NYSE:VIK) Trading Down 6.1% - Here's Why

Viking Holdings Ltd (NYSE:VIK - Get Free Report)'s share price dropped 6.1% during mid-day trading on Tuesday . The company traded as low as $39.62 and last traded at $39.51. Approximately 3,415,581 shares changed hands during mid-day trading, an increase of 44% from the average daily volume of 2,372,269 shares. The stock had previously closed at $42.07.

Analyst Ratings Changes

VIK has been the topic of a number of recent research reports. The Goldman Sachs Group assumed coverage on shares of Viking in a research report on Wednesday, January 22nd. They issued a "neutral" rating and a $49.00 price target on the stock. Barclays set a $46.00 target price on shares of Viking and gave the stock an "equal weight" rating in a research report on Wednesday, March 12th. UBS Group boosted their price objective on Viking from $54.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday. Truist Financial raised their target price on Viking from $49.00 to $50.00 and gave the company a "hold" rating in a research report on Friday, March 14th. Finally, JPMorgan Chase & Co. boosted their price target on Viking from $50.00 to $58.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $46.33.

Viking Stock Up 0.3 %

The firm has a market capitalization of $17.30 billion and a price-to-earnings ratio of 154.25. The firm's 50 day moving average is $47.22 and its 200 day moving average is $42.93.

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Viking (NYSE:VIK - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.09. The company had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.34 billion. Viking's revenue was up 20.5% on a year-over-year basis. On average, sell-side analysts predict that Viking Holdings Ltd will post 1.49 earnings per share for the current year.

Institutional Trading of Viking

A number of hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc purchased a new stake in shares of Viking in the 3rd quarter valued at approximately $306,000. Avior Wealth Management LLC purchased a new stake in shares of Viking in the third quarter valued at $27,000. Commerce Bank acquired a new stake in shares of Viking in the third quarter worth $276,000. Massachusetts Financial Services Co. MA grew its holdings in shares of Viking by 36.8% during 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. acquired a new position in Viking during the third quarter valued at $1,269,000. 98.84% of the stock is owned by hedge funds and other 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.