Viking (NYSE:VIK) Sees Strong Trading Volume – Still a Buy?

Shares of Viking Holdings Ltd (NYSE:VIK) saw unusually-high trading volume on Wednesday . Approximately 2,293,280 shares were traded 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.

Wall Street Analyst Weigh In

A number of research firms have recently commented on VIK. Barclays reaffirmed an “equal weight” rating and set a $49.00 price objective on shares of Viking in a report on Friday, December 13th. JPMorgan Chase & Co. raised their price target on shares of Viking from $50.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday. Morgan Stanley upgraded Viking from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $37.00 to $49.00 in a research note on Tuesday, November 12th. Truist Financial raised their target price on Viking from $38.00 to $49.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Finally, Stifel Nicolaus upped their price target on Viking from $39.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $44.08.

Viking Price Performance

The stock’s 50 day simple moving average is $44.96 and its two-hundred day simple moving average is $38.80.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. bought a new stake in shares of Viking during the third quarter worth $1,269,000. U S Global Investors Inc. bought a new stake in Viking during the 3rd quarter worth about $1,169,000. International Assets Investment Management LLC acquired a new position in Viking during the 3rd quarter valued at about $2,222,000. Franklin Resources Inc. boosted its stake in shares of Viking by 25.7% in the 3rd 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 during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of Viking during the 3rd quarter worth approximately $609,000. 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.