M&T Bank Corp Makes New $28.52 Million Investment in Vail Resorts, Inc. $MTN

Key Points

• M&T Bank bought a new stake of 214,763 shares in Vail Resorts valued at about $28.52 million, equal to roughly 0.60% ownership.
• Vail's CEO Robert A. Katz purchased 37,500 shares (~$4.94M), increasing his holding to 285,312 shares and signaling insider buying (the CFO also made a smaller purchase).
• Vail missed quarterly estimates (EPS $5.87 vs. $6.06; revenue $1.08B vs. $1.11B) and announced a quarterly dividend of $2.22 (annualized yield ~6.8%) with a payout ratio of ~145%.

M&T Bank Corp purchased a new stake in Vail Resorts, Inc. (NYSE:MTN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 214,763 shares of the company's stock, valued at approximately $28,521,000. M&T Bank Corp owned approximately 0.60% of Vail Resorts at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. BOKF NA raised its holdings in Vail Resorts by 833.3% in the third quarter. BOKF NA now owns 168 shares of the company's stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Vail Resorts by 815.8% in 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 in the last quarter. NBT Bank N A NY raised its holdings in Vail Resorts by 450.0% in the third quarter. NBT Bank N A NY now owns 176 shares of the company's stock valued at $26,000 after acquiring an additional 144 shares in the last quarter. Danske Bank A S acquired a new stake in Vail Resorts in the third quarter valued at $30,000. Finally, Security National Bank acquired a new stake in Vail Resorts in the third quarter valued at $41,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Vail Resorts from $172.00 to $156.00 and set a "neutral" rating on the stock in a report on Tuesday, March 10th. Morgan Stanley cut their price target on shares of Vail Resorts from $151.00 to $147.00 and set an "equal weight" rating on the stock in a report on Thursday, March 12th. Jefferies Financial Group raised shares of Vail Resorts from a "hold" rating to a "buy" rating and upped their price target for the company from $159.00 to $165.00 in a report on Tuesday, January 13th. Wall Street Zen cut shares of Vail Resorts from a "hold" rating to a "sell" rating in a report on Saturday, January 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Vail Resorts from $159.00 to $151.00 and set a "hold" rating on the stock in a report on Friday, March 6th. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Vail Resorts has an average rating of "Hold" and a consensus price target of $162.27.

Insiders Place Their Bets

In other Vail Resorts news, CEO Robert A. Katz bought 37,500 shares of the company's stock in a transaction on Monday, March 16th. The shares were bought at an average cost of $131.81 per share, with a total value of $4,942,875.00. Following the completion of the acquisition, the chief executive officer owned 285,312 shares of the company's stock, valued at approximately $37,606,974.72. This trade represents a 15.13% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Angela A. Korch bought 190 shares of the company's stock in a transaction on Monday, March 16th. The shares were acquired at an average cost of $131.85 per share, for a total transaction of $25,051.50. Following the completion of the acquisition, the chief financial officer directly owned 5,539 shares of the company's stock, valued at $730,317.15. This trade represents a 3.55% increase in their position. The SEC filing for this purchase provides additional information. 1.20% of the stock is currently owned by corporate insiders.

Vail Resorts Stock Down 2.0%

Shares of NYSE:MTN opened at $130.04 on Thursday. The stock has a market capitalization of $4.63 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 9.58 and a beta of 0.79. Vail Resorts, Inc. has a 1-year low of $123.82 and a 1-year high of $175.51. The company's fifty day moving average is $133.92 and its two-hundred day moving average is $140.19. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.51 and a current ratio of 0.62.

Vail Resorts (NYSE:MTN - Get Free Report) last issued its earnings results on Monday, March 9th. The company reported $5.87 earnings per share for the quarter, missing analysts' consensus estimates of $6.06 by ($0.19). The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.11 billion. Vail Resorts had a return on equity of 29.72% and a net margin of 7.89%.The firm's revenue for the quarter was down 4.7% on a year-over-year basis. During the same period last year, the company posted $6.56 earnings per share. Equities analysts anticipate that Vail Resorts, Inc. will post 5.09 EPS for the current year.

Vail Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Thursday, March 26th were issued a dividend of $2.22 per share. This represents a $8.88 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend was Thursday, March 26th. Vail Resorts's dividend payout ratio is 144.86%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.