Malaga Cove Capital LLC lifted its position in Vail Resorts, Inc. (NYSE:MTN) by 65.7% during the first quarter, Holdings Channel reports. The institutional investor owned 4,573 shares of the company’s stock after purchasing an additional 1,814 shares during the period. Malaga Cove Capital LLC’s holdings in Vail Resorts were worth $994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in the company. Highwater Wealth Management LLC purchased a new position in Vail Resorts during the fourth quarter valued at $32,000. Exane Derivatives lifted its position in Vail Resorts by 3,080.0% during the fourth quarter. Exane Derivatives now owns 159 shares of the company’s stock valued at $34,000 after purchasing an additional 154 shares in the last quarter. Westside Investment Management Inc. lifted its position in Vail Resorts by 700.0% during the fourth quarter. Westside Investment Management Inc. now owns 200 shares of the company’s stock valued at $42,000 after purchasing an additional 175 shares in the last quarter. Oakworth Capital Inc. lifted its position in Vail Resorts by 100.0% during the fourth quarter. Oakworth Capital Inc. now owns 200 shares of the company’s stock valued at $42,000 after purchasing an additional 100 shares in the last quarter. Finally, Flagship Harbor Advisors LLC lifted its position in Vail Resorts by 526.7% during the fourth quarter. Flagship Harbor Advisors LLC now owns 282 shares of the company’s stock valued at $59,000 after purchasing an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 99.20% of the company’s stock.
In other news, EVP David T. Shapiro sold 5,312 shares of Vail Resorts stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $213.51, for a total value of $1,134,165.12. Following the sale, the executive vice president now directly owns 4,573 shares of the company’s stock, valued at $976,381.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Peter A. Vaughn sold 1,000 shares of Vail Resorts stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $216.47, for a total value of $216,470.00. Following the completion of the sale, the director now directly owns 8,372 shares in the company, valued at $1,812,286.84. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.
Vail Resorts (NYSE:MTN) last issued its earnings results on Friday, March 8th. The company reported $5.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.79 by $0.23. Vail Resorts had a return on equity of 15.93% and a net margin of 12.76%. The firm had revenue of $849.60 million for the quarter, compared to analysts’ expectations of $841.76 million. During the same period in the previous year, the firm posted $4.12 earnings per share. The business’s revenue was up 15.7% compared to the same quarter last year. Sell-side analysts anticipate that Vail Resorts, Inc. will post 7.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Wednesday, March 27th will be issued a $1.76 dividend. This represents a $7.04 annualized dividend and a dividend yield of 3.25%. This is a boost from Vail Resorts’s previous quarterly dividend of $1.47. The ex-dividend date is Tuesday, March 26th. Vail Resorts’s payout ratio is 111.92%.
MTN has been the topic of a number of recent analyst reports. Bank of America cut Vail Resorts from a “buy” rating to a “neutral” rating in a report on Friday, January 11th. Deutsche Bank decreased their price target on Vail Resorts from $294.00 to $267.00 and set a “buy” rating on the stock in a report on Monday, January 14th. Stifel Nicolaus reissued a “hold” rating on shares of Vail Resorts in a report on Friday, January 11th. KeyCorp set a $210.00 price target on Vail Resorts and gave the company a “buy” rating in a report on Wednesday, January 23rd. Finally, Zacks Investment Research cut Vail Resorts from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $266.45.
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Vail Resorts Company Profile
Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and urban ski areas in the United States. The company operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 11 mountain resorts, including Vail Mountain, Breckenridge Ski, Keystone, and Beaver Creek resorts in Colorado; Park City resort in Utah; Heavenly Mountain, Northstar, and Kirkwood Mountain resorts in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in Canada; Stowe Mountain resort in Vermont; and Perisher in Australia, as well as 3 urban ski areas, such as Wilmot Mountain in Wisconsin, Afton Alps in Minnesota, and Mount Brighton in Michigan.
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