Arrowstreet Capital Limited Partnership Has $13.92 Million Stock Position in Vail Resorts, Inc. $MTN

Key Points

• Arrowstreet Capital cut its Vail Resorts stake by 49.9% in the first quarter, selling 107,934 shares and retaining 108,494 shares valued at approximately $13.92 million. Institutional investors and hedge funds collectively own 94.9% of MTN.
• Vail Resorts reported quarterly revenue of $1.21 billion, up slightly from expectations, but earnings of $8.81 per share missed estimates and fell from $10.54 a year earlier; revenue declined 7% year over year.
• The company paid a quarterly dividend of $2.22 per share, implying an annualized yield of 5.9%, though its payout ratio was elevated at 201.82%. Analysts maintain a consensus “Hold” rating with a $151.45 target price.

Arrowstreet Capital Limited Partnership lowered its position in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) by 49.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 108,494 shares of the company's stock after selling 107,934 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.30% of Vail Resorts worth $13,922,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Orvieto Partners L.P. increased its holdings in Vail Resorts by 33.3% in the first quarter. Orvieto Partners L.P. now owns 40,000 shares of the company's stock valued at $5,133,000 after purchasing an additional 10,000 shares during the period. Sei Investments Co. boosted its holdings in shares of Vail Resorts by 38.4% during the 1st quarter. Sei Investments Co. now owns 186,667 shares of the company's stock worth $23,953,000 after buying an additional 51,748 shares in the last quarter. Cetera Investment Advisers increased its position in Vail Resorts by 8.4% in the 1st quarter. Cetera Investment Advisers now owns 6,657 shares of the company's stock valued at $854,000 after buying an additional 514 shares in the last quarter. Levin Capital Strategies L.P. acquired a new position in Vail Resorts during the first quarter worth $4,351,000. Finally, First Citizens Bank & Trust Co. purchased a new stake in shares of Vail Resorts in the first quarter worth approximately $629,000. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Vail Resorts Stock Performance

NYSE:MTN opened at $149.55 on Friday. The stock has a 50-day moving average price of $140.97 and a 200 day moving average price of $135.62. The stock has a market capitalization of $5.33 billion, a P/E ratio of 33.99, a P/E/G ratio of 14.34 and a beta of 0.71. Vail Resorts, Inc. has a 12-month low of $118.51 and a 12-month high of $165.50. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 3.22.

Vail Resorts (NYSE:MTN - Get Free Report) last announced its quarterly earnings results on Monday, June 8th. The company reported $8.81 EPS for the quarter, missing the consensus estimate of $8.97 by ($0.16). Vail Resorts had a return on equity of 21.88% and a net margin of 5.38%.The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the firm earned $10.54 EPS. The firm's revenue for the quarter was down 7.0% compared to the same quarter last year. Equities research analysts forecast that Vail Resorts, Inc. will post 4.31 EPS for the current fiscal year.

Vail Resorts Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th were issued a $2.22 dividend. This represents a $8.88 annualized dividend and a dividend yield of 5.9%. The ex-dividend date was Thursday, June 25th. Vail Resorts's dividend payout ratio (DPR) is 201.82%.

Wall Street Analyst Weigh In

MTN has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Vail Resorts from $124.00 to $126.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 9th. Barclays lowered their target price on shares of Vail Resorts from $138.00 to $119.00 and set an "underweight" rating on the stock in a research note on Tuesday, June 9th. Stifel Nicolaus lowered their price objective on shares of Vail Resorts from $172.00 to $167.00 and set a "buy" rating for the company in a report on Tuesday, June 9th. Zacks Research cut shares of Vail Resorts from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 28th. Finally, Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Vail Resorts in a research note on Tuesday, July 7th. Five equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Vail Resorts currently has a consensus rating of "Hold" and a consensus target price of $151.45.

Vail Resorts Company Profile

Vail Resorts, Inc is a leading mountain resort company that owns and operates an integrated network of ski areas, hotels, restaurants and retail outlets. The company's signature Epic Pass program offers skiers and snowboarders season‐long access to its portfolio of resorts, while ancillary services such as ski and snowboard schools, equipment rental and retail drive additional revenue.

Headquartered in Broomfield, Colorado, Vail Resorts was formed in 1997, building on the legacy of Vail Associates, which opened the Vail ski area in 1962.

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