Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 140,884 Vail Resorts, Inc. $MTN

Key Points

• Connor Clark & Lunn Investment Management acquired 140,884 shares of Vail Resorts, valued at approximately $19.2 million, representing about 0.40% of the company.
• Institutional investors own 94.9% of Vail Resorts, while analysts maintain a consensus “Hold” rating with an average price target of $149.83.
• Vail Resorts reported quarterly EPS of $8.81, missing estimates of $8.97, while revenue reached $1.21 billion but declined 7% year over year; its $2.22 quarterly dividend implies a 6.0% yield.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 140,884 shares of the company's stock, valued at approximately $19,181,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.40% of Vail Resorts at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTN. Goldman Sachs Group Inc. grew its holdings in shares of Vail Resorts by 2.9% during the first quarter. Goldman Sachs Group Inc. now owns 121,123 shares of the company's stock valued at $19,382,000 after buying an additional 3,440 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Vail Resorts by 1.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 148,235 shares of the company's stock worth $23,721,000 after acquiring an additional 2,824 shares during the last quarter. Prudential Financial Inc. raised its stake in Vail Resorts by 24.1% in the 2nd quarter. Prudential Financial Inc. now owns 3,086 shares of the company's stock worth $525,000 after acquiring an additional 600 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Vail Resorts by 815.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 174 shares of the company's stock worth $27,000 after acquiring an additional 155 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Vail Resorts during the 2nd quarter worth about $2,119,000. Hedge funds and other institutional investors own 94.90% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MTN. Stifel Nicolaus cut their price objective on Vail Resorts from $172.00 to $167.00 and set a "buy" rating on the stock in a report on Tuesday, June 9th. Mizuho set a $174.00 target price on Vail Resorts in a report on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft dropped their target price on Vail Resorts from $143.00 to $134.00 and set a "hold" rating on the stock in a research report on Tuesday, June 9th. JPMorgan Chase & Co. increased their price target on shares of Vail Resorts from $124.00 to $126.00 and gave the stock a "neutral" rating in a report on Tuesday, June 9th. Finally, UBS Group reissued a "neutral" rating on shares of Vail Resorts in a research 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 issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $149.83.

Vail Resorts Price Performance

NYSE:MTN opened at $148.07 on Wednesday. Vail Resorts, Inc. has a one year low of $118.51 and a one year high of $165.50. 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 firm has a market cap of $5.28 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 9.90 and a beta of 0.70. The firm's fifty day moving average is $146.18 and its two-hundred day moving average is $137.01.

Vail Resorts (NYSE:MTN - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.20 billion. Vail Resorts had a net margin of 5.38% and a return on equity of 21.88%. The business's quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.54 EPS. Research analysts expect that Vail Resorts, Inc. will post 4.32 EPS for the current year.

Vail Resorts Dividend Announcement

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

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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