Viking (NYSE:VIK) Trading Down 3.6% – Should You Sell?

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

Wall Street Analysts Forecast Growth

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

Viking Stock Performance

The firm’s fifty day moving average price is $44.34 and its 200-day moving average price is $37.99.

Institutional Trading of Viking

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Avior Wealth Management LLC purchased a new stake in shares of Viking in the third quarter worth about $27,000. Valley Wealth Managers Inc. bought a new position in Viking in the 2nd quarter valued at $35,000. Sunbelt Securities Inc. purchased a new position in shares of Viking during the 2nd quarter valued at $68,000. SG Americas Securities LLC purchased a new position in Viking during the third quarter worth about $181,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Viking in the 3rd quarter valued at about $187,000. 98.84% of the stock is currently owned by institutional investors.

Viking Company Profile

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.