Viking (NYSE:VIK) Sees Unusually-High Trading Volume – Time to Buy?

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

VIK has been the subject of a number of research reports. Citigroup initiated coverage on shares of Viking in a report on Thursday, December 19th. They issued a “buy” rating and a $54.00 target price for the company. Stifel Nicolaus upped their target price on shares of Viking from $39.00 to $50.00 and gave the company a “buy” rating in a report on Monday, November 18th. Bank of America upped their target price on shares of Viking from $40.00 to $51.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Barclays reissued an “equal weight” rating and set a $49.00 price target on shares of Viking in a report on Friday, December 13th. Finally, Morgan Stanley raised shares of 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 report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Viking presently has a consensus rating of “Moderate Buy” and an average price target of $42.85.

Viking Trading Up 1.6 %

The firm’s 50-day simple moving average is $44.90 and its two-hundred day simple moving average is $38.72.

Institutional Trading of Viking

Several large investors have recently modified their holdings of VIK. Bank of New York Mellon Corp acquired a new stake in shares of Viking in the second quarter valued at approximately $670,000. Parallel Advisors LLC acquired a new stake in shares of Viking in the second quarter valued at approximately $270,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Viking in the second quarter valued at approximately $73,247,000. Renaissance Technologies LLC acquired a new stake in shares of Viking in the second quarter valued at approximately $4,752,000. Finally, Seven Eight Capital LP acquired a new stake in Viking during the second quarter worth approximately $1,698,000. 98.84% of the stock is currently owned by institutional investors and hedge funds.

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.