Bank of America Corp DE Takes $28.94 Million Position in Vail Resorts, Inc. $MTN

Key Points

• Bank of America acquired a new 212,537-share stake in Vail Resorts during the second quarter, valued at approximately $28.94 million and representing 0.60% of the company.
• Institutional ownership remains very high at 94.9%, with BlackRock, Manufacturers Life, Bank of New York Mellon and Norges Bank also establishing new positions.
• Analysts remain cautious: Vail Resorts has a consensus “Hold” rating and an average price target of $149, while shares opened at $139.03 after recently declining 1%.

Bank of America Corp DE acquired a new position in Vail Resorts, Inc. (NYSE:MTN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 212,537 shares of the company's stock, valued at approximately $28,937,000. Bank of America Corp DE owned 0.60% of Vail Resorts as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in shares of Vail Resorts during the second quarter valued at about $464,712,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Vail Resorts in the second quarter worth about $131,418,000. Bank of New York Mellon Corp purchased a new stake in shares of Vail Resorts in the second quarter worth about $49,749,000. Norges Bank bought a new position in Vail Resorts during the fourth quarter valued at approximately $41,106,000. Finally, Capital World Investors boosted its stake in Vail Resorts by 6.1% during the fourth quarter. Capital World Investors now owns 3,196,445 shares of the company's stock valued at $424,488,000 after buying an additional 182,982 shares during the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on MTN. UBS Group reaffirmed a "neutral" rating on shares of Vail Resorts in a research note on Friday. Truist Financial lowered their target price on Vail Resorts from $212.00 to $195.00 and set a "buy" rating for the company in a research report on Tuesday, June 9th. Barclays cut their target price on shares of Vail Resorts from $138.00 to $119.00 and set an "underweight" rating for the company in a report on Tuesday, June 9th. Mizuho set a $174.00 price target on shares of Vail Resorts in a research report on Tuesday, June 9th. Finally, The Goldman Sachs Group initiated coverage on shares of Vail Resorts in a research note on Thursday, August 13th. They set a "sell" rating and a $132.00 price target on the stock. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $149.00.

Vail Resorts Stock Down 1.0%

Shares of NYSE MTN opened at $139.03 on Wednesday. The company has a debt-to-equity ratio of 3.22, a current ratio of 0.91 and a quick ratio of 0.79. The company has a market cap of $4.95 billion, a P/E ratio of 31.60, a PEG ratio of 9.35 and a beta of 0.69. Vail Resorts, Inc. has a 1 year low of $118.51 and a 1 year high of $163.34. The firm has a 50-day simple moving average of $144.69 and a two-hundred day simple moving average of $136.90.

Key Vail Resorts News

Here are the key news stories impacting Vail Resorts this week:

• Positive Sentiment: Activist stake increases: Oasis Management raised its active position in Vail Resorts to 7.4% after launching a proxy fight. The larger stake may increase pressure on management to improve performance, enhance shareholder returns and consider changes to the board. Oasis Management increases active stake in Vail Resorts to 7.4%
• Positive Sentiment: Potential earnings beat: Zacks said Vail Resorts has factors supporting a likely earnings beat in its upcoming report, which could provide a near-term catalyst if the company delivers stronger-than-expected results or guidance. Vail Resorts expected to beat earnings estimates
• Positive Sentiment: Advance Epic Day Pass sales: Vail Resorts is promoting four-day Epic Day Pass access to major resorts for $471, with savings of up to 65% versus window prices. The promotion could support advance bookings, skier visits and revenue visibility, although its discounted pricing may affect realized revenue per visit. Epic Day Pass promotion
• Neutral Sentiment: Proxy fight adds uncertainty: Oasis is seeking a board overhaul, creating the possibility of strategic changes but also raising execution, governance and distraction risks for Vail Resorts. Activist investor wants board overhaul at Vail Resorts
• Negative Sentiment: Analyst downgrade: BNP Paribas Exane lowered MTN from “outperform” to “neutral” and cut its price target from $151 to $135, signaling less confidence in near-term upside and weighing on investor sentiment. Vail Resorts lowered to neutral by BNP Paribas Exane

Vail Resorts Profile

Vail Resorts, Inc is a mountain resort company that operates a portfolio of ski and summer resorts, primarily in the United States, Canada and Australia. Its properties offer skiing, snowboarding and other outdoor recreational activities, along with lodging, dining, retail, equipment rentals, lessons and related guest services.

The company's resort portfolio includes well-known destinations such as Vail, Beaver Creek, Breckenridge and Keystone in Colorado; Park City in Utah; Whistler Blackcomb in British Columbia; and Perisher in New South Wales, Australia.

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