Viking (NYSE:VIK) Stock Price Down 3.6% – Time to Sell?

Viking Holdings Ltd (NYSE:VIK) shares dropped 3.6% during mid-day trading on Friday . The company traded as low as $42.01 and last traded at $42.25. Approximately 896,978 shares changed hands during mid-day 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

A number of analysts have weighed in on the stock. Morgan Stanley raised shares of Viking from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $37.00 to $49.00 in a report on Tuesday, November 12th. Barclays reiterated an “equal weight” rating and set a $49.00 price target on shares of Viking in a research note on Friday, December 13th. Stifel Nicolaus upped their price objective on shares of Viking from $39.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Citigroup initiated coverage on Viking in a research report on Thursday, December 19th. They set a “buy” rating and a $54.00 target price on the stock. Finally, Bank of America upped 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. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Viking currently has an average rating of “Moderate Buy” and a consensus target price of $42.85.

Viking Stock Performance

The stock’s 50-day simple moving average is $44.42 and its 200 day simple moving average is $38.11.

Institutional Investors Weigh In On Viking

A number of hedge funds have recently added to or reduced their stakes in VIK. Bank of New York Mellon Corp purchased a new position in shares of Viking during the 2nd quarter worth approximately $670,000. Valley Wealth Managers Inc. acquired a new stake in Viking in the second quarter valued at $35,000. O Neil Global Advisors Inc. purchased a new stake in shares of Viking during the 2nd quarter worth $202,000. Parallel Advisors LLC acquired a new position in shares of Viking during the 2nd quarter worth $270,000. Finally, Massachusetts Financial Services Co. MA purchased a new position in shares of Viking in the 2nd quarter valued at about $73,247,000. Institutional investors and hedge funds own 98.84% of the company’s stock.

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.