Bank of America Corp DE Has $24.68 Million Stake in Vail Resorts, Inc. $MTN

Key Points

• Bank of America reduced its Vail Resorts stake by 25.8% in the first quarter, selling 67,047 shares and retaining 192,358 shares valued at approximately $24.68 million. Institutional investors collectively own 94.9% of MTN.
• Vail Resorts reported quarterly earnings of $8.81 per share, missing estimates of $8.97, while revenue reached $1.21 billion, up slightly from expectations but down 7% year over year.
• The stock was trading near $146.26, with analysts assigning a consensus “Hold” rating and an average price target of $149.83. Vail also declared a quarterly dividend of $2.22 per share, equivalent to a 6.1% annualized yield.

Bank of America Corp DE reduced its stake in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) by 25.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,358 shares of the company's stock after selling 67,047 shares during the quarter. Bank of America Corp DE owned about 0.54% of Vail Resorts worth $24,683,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MTN. BOKF NA lifted its holdings in Vail Resorts by 833.3% during the 3rd quarter. BOKF NA now owns 168 shares of the company's stock worth $25,000 after buying an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Vail Resorts by 815.8% during the second quarter. EverSource Wealth Advisors LLC now owns 174 shares of the company's stock valued at $27,000 after acquiring an additional 155 shares during the period. Golden State Wealth Management LLC boosted its holdings in Vail Resorts by 83.3% in the fourth quarter. Golden State Wealth Management LLC now owns 220 shares of the company's stock valued at $29,000 after acquiring an additional 100 shares during the last quarter. Danske Bank A S bought a new position in Vail Resorts in the third quarter valued at about $30,000. Finally, Caitong International Asset Management Co. Ltd increased its position in Vail Resorts by 1,585.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 236 shares of the company's stock worth $31,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 94.90% of the company's stock.

Vail Resorts Stock Down 1.4%

Shares of NYSE:MTN opened at $146.26 on Tuesday. The company has a 50 day moving average price of $144.26 and a two-hundred day moving average price of $136.22. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.79 and a current ratio of 0.91. The company has a market capitalization of $5.21 billion, a PE ratio of 33.24, a PEG ratio of 9.78 and a beta of 0.70. Vail Resorts, Inc. has a 52 week low of $118.51 and a 52 week high of $165.50.

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

Vail Resorts Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Stockholders of record on Thursday, June 25th were given a dividend of $2.22 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $8.88 dividend on an annualized basis and a dividend yield of 6.1%. Vail Resorts's dividend payout ratio (DPR) is currently 201.82%.

Analyst Ratings Changes

MTN has been the topic of several recent research reports. JPMorgan Chase & Co. raised their target price on shares of Vail Resorts from $124.00 to $126.00 and gave the company a "neutral" rating in a research note on Tuesday, June 9th. UBS Group reissued a "neutral" rating on shares of Vail Resorts in a research note on Tuesday, June 9th. The Goldman Sachs Group began coverage on shares of Vail Resorts in a report on Thursday. They set a "sell" rating and a $132.00 target price for the company. Mizuho set a $174.00 target price on shares of Vail Resorts in a research report on Tuesday, June 9th. Finally, Zacks Research raised Vail Resorts from a "strong sell" rating to a "hold" rating in a research note on Monday, August 3rd. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Vail Resorts has a consensus rating of "Hold" and a consensus 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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