Oppenheimer & Co. Inc. acquired a new stake in Peak Resorts Inc (NASDAQ:SKIS) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 80,723 shares of the company’s stock, valued at approximately $396,000.
Other hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its holdings in Peak Resorts by 40.4% in the 1st quarter. Wells Fargo & Company MN now owns 40,640 shares of the company’s stock valued at $198,000 after purchasing an additional 11,700 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Peak Resorts by 12.4% in the 2nd quarter. Renaissance Technologies LLC now owns 131,298 shares of the company’s stock valued at $656,000 after purchasing an additional 14,477 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in Peak Resorts by 150.5% in the 1st quarter. Russell Investments Group Ltd. now owns 160,190 shares of the company’s stock valued at $776,000 after purchasing an additional 96,241 shares in the last quarter. Finally, Rutabaga Capital Management LLC MA lifted its holdings in Peak Resorts by 22.5% in the 2nd quarter. Rutabaga Capital Management LLC MA now owns 1,281,522 shares of the company’s stock valued at $6,408,000 after purchasing an additional 235,346 shares in the last quarter. Institutional investors own 47.56% of the company’s stock.
A number of brokerages have weighed in on SKIS. Zacks Investment Research upgraded Peak Resorts from a “hold” rating to a “buy” rating and set a $5.50 price objective on the stock in a report on Thursday, October 4th. ValuEngine raised Peak Resorts from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Finally, Stifel Nicolaus cut their target price on Peak Resorts from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, September 12th. Five research analysts have rated the stock with a buy rating, Peak Resorts has a consensus rating of “Buy” and an average price target of $6.13.
Peak Resorts (NASDAQ:SKIS) last released its earnings results on Tuesday, September 11th. The company reported ($0.87) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.04). The firm had revenue of $7.01 million during the quarter, compared to analyst estimates of $7.58 million. Peak Resorts had a negative net margin of 1.41% and a negative return on equity of 0.63%. On average, sell-side analysts forecast that Peak Resorts Inc will post 0.31 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 27th. Shareholders of record on Thursday, November 15th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 5.49%. The ex-dividend date of this dividend is Wednesday, November 14th. Peak Resorts’s dividend payout ratio is currently 400.00%.
About Peak Resorts
Peak Resorts, Inc, through its subsidiaries, owns, operates, and leases day and overnight drive ski resorts in the United States. Its resorts activities and amenities include skiing, snowboarding, terrain parks, tubing, dining, lodging, equipment rentals and sales, ski and snowboard instruction, zip lines, mountain coasters, mountain biking, hiking, and other summer activities.
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