Longfellow Investment Management Co. LLC Takes $324,000 Position in Vail Resorts, Inc. (NYSE:MTN)

Key Points

• Longfellow Investment Management Co. LLC has made a new investment of $324,000 in Vail Resorts, Inc., acquiring 2,024 shares during the first quarter.
• Multiple institutional investors have increased their stakes in Vail Resorts, reflecting a strong interest as they own 94.90% of the company's stock.
• The company recently announced a quarterly dividend of $2.22 per share, which translates to an annualized yield of 6.0%, although the payout ratio stands at 113.55%.

Longfellow Investment Management Co. LLC acquired a new position in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,024 shares of the company's stock, valued at approximately $324,000.

A number of other hedge funds have also modified their holdings of MTN. Point72 Asset Management L.P. increased its stake in shares of Vail Resorts by 170.1% during the 4th quarter. Point72 Asset Management L.P. now owns 546,423 shares of the company's stock worth $102,427,000 after purchasing an additional 344,095 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Vail Resorts by 42.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 976,468 shares of the company's stock worth $183,039,000 after purchasing an additional 289,484 shares in the last quarter. First Pacific Advisors LP increased its stake in shares of Vail Resorts by 54.2% during the 1st quarter. First Pacific Advisors LP now owns 805,584 shares of the company's stock worth $128,910,000 after purchasing an additional 283,299 shares in the last quarter. TPG GP A LLC increased its stake in shares of Vail Resorts by 19.9% during the 4th quarter. TPG GP A LLC now owns 1,036,487 shares of the company's stock worth $194,289,000 after purchasing an additional 172,082 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its stake in shares of Vail Resorts by 402.1% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 186,356 shares of the company's stock worth $34,932,000 after purchasing an additional 149,237 shares in the last quarter. 94.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Angela A. Korch acquired 200 shares of the business's stock in a transaction on Friday, June 20th. The shares were purchased at an average price of $157.00 per share, for a total transaction of $31,400.00. Following the acquisition, the chief financial officer directly owned 3,156 shares of the company's stock, valued at $495,492. This represents a 6.77% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is owned by corporate insiders.

Vail Resorts Stock Down 1.6%

Shares of NYSE:MTN traded down $2.42 during midday trading on Thursday, hitting $152.42. 565,834 shares of the company's stock traded hands, compared to its average volume of 676,122. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.54 and a current ratio of 0.61. The company has a market cap of $5.66 billion, a PE ratio of 19.49, a P/E/G ratio of 1.86 and a beta of 0.90. The firm's fifty day moving average price is $156.94 and its two-hundred day moving average price is $154.88. Vail Resorts, Inc. has a twelve month low of $129.85 and a twelve month high of $199.45.

Vail Resorts (NYSE:MTN - Get Free Report) last posted its earnings results on Thursday, June 5th. The company reported $10.54 earnings per share for the quarter, beating the consensus estimate of $10.00 by $0.54. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. Vail Resorts had a net margin of 9.81% and a return on equity of 30.25%. The business's quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $9.54 EPS. On average, equities research analysts anticipate that Vail Resorts, Inc. will post 7.62 EPS for the current fiscal year.

Vail Resorts Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 24th were issued a $2.22 dividend. The ex-dividend date was Tuesday, June 24th. This represents a $8.88 dividend on an annualized basis and a yield of 5.8%. Vail Resorts's payout ratio is currently 113.55%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. UBS Group lowered their target price on shares of Vail Resorts from $185.00 to $169.00 and set a "neutral" rating for the company in a research note on Wednesday, June 11th. Truist Financial lowered their target price on shares of Vail Resorts from $247.00 to $244.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Bank of America lifted their target price on shares of Vail Resorts from $160.00 to $175.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Morgan Stanley reaffirmed an "equal weight" rating on shares of Vail Resorts in a research note on Friday, June 6th. Finally, JPMorgan Chase & Co. raised shares of Vail Resorts from an "underweight" rating to a "neutral" rating and set a $167.00 target price for the company in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Vail Resorts currently has a consensus rating of "Hold" and an average price target of $187.20.

Vail Resorts Company Profile

Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and regional ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 41 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities.