Alliancebernstein L.P. increased its position in shares of Vail Resorts, Inc. (NYSE:MTN) by 23.0% during the third quarter, HoldingsChannel reports. The fund owned 446,119 shares of the company’s stock after buying an additional 83,529 shares during the quarter. Alliancebernstein L.P.’s holdings in Vail Resorts were worth $149,026,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of MTN. HighTower Advisors LLC grew its position in Vail Resorts by 35.2% during the 2nd quarter. HighTower Advisors LLC now owns 3,994 shares of the company’s stock worth $1,265,000 after acquiring an additional 1,039 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in Vail Resorts by 13.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 7,451 shares of the company’s stock worth $2,358,000 after acquiring an additional 869 shares during the last quarter. WINTON GROUP Ltd grew its position in Vail Resorts by 4.5% during the 2nd quarter. WINTON GROUP Ltd now owns 1,523 shares of the company’s stock worth $482,000 after acquiring an additional 66 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Vail Resorts by 6.6% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,220 shares of the company’s stock worth $385,000 after acquiring an additional 75 shares during the last quarter. Finally, Mid Atlantic Financial Management Inc. ADV bought a new stake in Vail Resorts during the 2nd quarter worth $218,000. Institutional investors and hedge funds own 94.20% of the company’s stock.
MTN has been the topic of several recent research reports. Zacks Investment Research raised Vail Resorts from a “sell” rating to a “hold” rating and set a $329.00 target price on the stock in a report on Wednesday, September 22nd. William Blair reaffirmed a “market perform” rating on shares of Vail Resorts in a report on Wednesday, December 8th. Truist lifted their target price on Vail Resorts from $308.00 to $322.00 and gave the stock a “hold” rating in a report on Friday, September 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Vail Resorts from $310.00 to $331.00 and gave the stock a “hold” rating in a report on Monday, December 13th. They noted that the move was a valuation call. Finally, Credit Suisse Group lifted their target price on Vail Resorts from $367.00 to $379.00 and gave the stock an “outperform” rating in a report on Friday, December 10th. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $335.43.
Vail Resorts (NYSE:MTN) last issued its quarterly earnings data on Thursday, December 9th. The company reported ($3.44) EPS for the quarter, topping analysts’ consensus estimates of ($3.65) by $0.21. The firm had revenue of $175.58 million during the quarter, compared to analyst estimates of $192.77 million. Vail Resorts had a return on equity of 7.90% and a net margin of 7.28%. The company’s revenue for the quarter was up 33.2% on a year-over-year basis. During the same period in the previous year, the company posted ($3.63) EPS. Equities analysts predict that Vail Resorts, Inc. will post 7.85 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 11th. Shareholders of record on Tuesday, December 28th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Monday, December 27th. Vail Resorts’s dividend payout ratio is currently 103.23%.
In other news, CFO Michael Z. Barkin sold 1,836 shares of the company’s stock in a transaction that occurred on Monday, December 13th. The stock was sold at an average price of $335.35, for a total value of $615,702.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John F. Sorte sold 1,832 shares of the company’s stock in a transaction that occurred on Monday, December 13th. The shares were sold at an average price of $338.66, for a total value of $620,425.12. The disclosure for this sale can be found here. Insiders have sold a total of 101,877 shares of company stock valued at $33,704,023 over the last three months. Corporate insiders own 1.70% of the company’s stock.
About Vail Resorts
Vail Resorts, Inc is a holding company, which engages in the operation of mountain resorts. It operates through the following segments: Mountain, Lodging, and Real Estate. The Mountain segment covers the operation of mountain resorts or ski areas, and related activities. The Lodging segment includes ownership of hotels, RockResorts, NPS concessionaire properties, condominium management, Colorado resort ground transportation operations, and mountain resort golf operations.
Further Reading: When can a hold rating present a buying opportunity?
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