Viking (NYSE:VIK) Shares Gap Down – Should You Sell?

Viking Holdings Ltd. (NYSE:VIK) shares gapped down before the market opened on Monday . The stock had previously closed at $78.02, but opened at $71.26. Viking shares last traded at $73.30, with a volume of 1,113,882 shares traded.

Analysts Set New Price Targets

Several research firms recently issued reports on VIK. Barclays boosted their price objective on Viking from $62.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, November 20th. Morgan Stanley boosted their price target on shares of Viking from $70.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, January 16th. Wells Fargo & Company raised their price objective on shares of Viking from $62.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Viking in a research note on Monday, December 29th. Finally, The Goldman Sachs Group upgraded shares of Viking from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $78.00 in a report on Tuesday, December 9th. Eleven equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Viking Stock Down 3.5%

The stock has a market cap of $33.36 billion, a PE ratio of 35.20, a price-to-earnings-growth ratio of 0.68 and a beta of 1.96. The company has a quick ratio of 0.61, a current ratio of 0.63 and a debt-to-equity ratio of 5.68. The firm has a fifty day moving average of $73.58 and a 200 day moving average of $66.34.

Hedge Funds Weigh In On Viking

A number of hedge funds and other institutional investors have recently made changes to their positions in VIK. Y Intercept Hong Kong Ltd purchased a new position in Viking during the 3rd quarter worth $989,000. Congress Asset Management Co. acquired a new position in shares of Viking during the third quarter worth about $65,041,000. Merit Financial Group LLC raised its holdings in Viking by 42.6% during the third quarter. Merit Financial Group LLC now owns 27,635 shares of the company’s stock worth $1,718,000 after purchasing an additional 8,256 shares in the last quarter. Diversified Trust Co acquired a new stake in Viking in the third quarter valued at about $1,258,000. Finally, JPMorgan Chase & Co. boosted its holdings in Viking by 74.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,467,311 shares of the company’s stock valued at $78,193,000 after purchasing an additional 626,973 shares in the last quarter. Hedge funds and other institutional investors 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.