Bamco Inc. NY Buys Shares of 6,536,697 Vail Resorts, Inc. $MTN

Key Points

• Bamco Inc. NY acquired 6.54 million shares of Vail Resorts worth approximately $890 million, making up 18.35% of the company and about 1.3% of Bamco’s portfolio.
• Vail Resorts reported quarterly revenue of $1.21 billion, ahead of estimates, but earnings per share of $8.81 missed expectations and revenue declined 7% year over year.
• The stock opened at $148.50, near analysts’ average target of $149.83. Analysts maintain a consensus “Hold” rating, while the company’s $8.88 annual dividend implies a 6.0% yield.

Bamco Inc. NY bought a new position in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,536,697 shares of the company's stock, valued at approximately $889,971,000. Vail Resorts makes up about 1.3% of Bamco Inc. NY's investment portfolio, making the stock its 15th biggest position. Bamco Inc. NY owned 18.35% of Vail Resorts at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bank of America Corp DE acquired a new stake in Vail Resorts during the second quarter worth approximately $28,937,000. Gallagher Fiduciary Advisors LLC acquired a new stake in Vail Resorts during the 2nd quarter worth approximately $399,000. Man Group plc purchased a new position in Vail Resorts in the 2nd quarter valued at $1,180,000. Jupiter Topco LLC acquired a new position in Vail Resorts in the 2nd quarter valued at $2,140,000. Finally, J. Goldman & Co LP acquired a new position in Vail Resorts in the 2nd quarter valued at $427,000. 94.90% of the stock is owned by hedge funds and other institutional investors.

Vail Resorts Price Performance

Shares of NYSE MTN opened at $148.50 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.79 and a debt-to-equity ratio of 3.22. The company's 50-day moving average price is $146.55 and its 200 day moving average price is $137.10. Vail Resorts, Inc. has a 52 week low of $118.51 and a 52 week high of $165.50. The stock has a market cap of $5.29 billion, a price-to-earnings ratio of 33.75, a PEG ratio of 9.75 and a beta of 0.70.

Vail Resorts (NYSE:MTN - Get Free Report) last announced its quarterly earnings data on Monday, June 8th. The company reported $8.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.97 by ($0.16). Vail Resorts had a net margin of 5.38% and a return on equity of 21.88%. The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.20 billion. During the same period in the previous year, the company posted $10.54 EPS. The business's quarterly revenue was down 7.0% on a year-over-year basis. As a group, research analysts forecast that Vail Resorts, Inc. will post 4.32 earnings per share for the current fiscal year.

Vail Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th were paid a dividend of $2.22 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $8.88 annualized dividend and a dividend yield of 6.0%. Vail Resorts's payout ratio is currently 201.82%.

Analysts Set New Price Targets

Several research firms have recently commented on MTN. Barclays reduced their target price on shares of Vail Resorts from $138.00 to $119.00 and set an "underweight" rating for the company in a research note on Tuesday, June 9th. JPMorgan Chase & Co. raised their price objective on shares of Vail Resorts from $124.00 to $126.00 and gave the company a "neutral" rating in a research report on Tuesday, June 9th. UBS Group reaffirmed a "neutral" rating on shares of Vail Resorts in a report on Tuesday, June 9th. Mizuho set a $174.00 target price on Vail Resorts in a research note on Tuesday, June 9th. Finally, Truist Financial dropped their price objective on Vail Resorts from $212.00 to $195.00 and set a "buy" rating on the stock in a report on Tuesday, June 9th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Vail Resorts currently has a consensus rating of "Hold" and an average target price of $149.83.

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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