Oasis Management Co Ltd. Purchases 141,500 Shares of Vail Resorts, Inc. $MTN

Key Points

• Oasis Management Co Ltd. increased its stake in Vail Resorts by 8.3% in the fourth quarter, buying 141,500 additional shares. The fund now owns 1,851,234 shares, making MTN its largest holding and about 16% of its portfolio.
• Vail Resorts reported mixed quarterly results, with earnings of $8.81 per share missing estimates by $0.16 even as revenue came in slightly above expectations at $1.21 billion. Revenue still fell 7% year over year, and analysts now expect full-year EPS of 4.35.
• The company declared a high dividend yield of 6.7%, paying $2.22 per share on July 9 to shareholders of record on June 25. However, the payout ratio is very high at 201.82%, which may raise sustainability questions.

Oasis Management Co Ltd. raised its position in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,851,234 shares of the company's stock after purchasing an additional 141,500 shares during the quarter. Vail Resorts accounts for 16.0% of Oasis Management Co Ltd.'s investment portfolio, making the stock its biggest holding. Oasis Management Co Ltd. owned about 5.17% of Vail Resorts worth $245,844,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MTN. BOKF NA increased its stake in shares of Vail Resorts by 833.3% in the third quarter. BOKF NA now owns 168 shares of the company's stock worth $25,000 after acquiring an additional 150 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Vail Resorts by 815.8% in the second 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 last quarter. Danske Bank A S acquired a new position in shares of Vail Resorts in the third quarter worth $30,000. International Assets Investment Management LLC acquired a new position in shares of Vail Resorts in the fourth quarter worth $43,000. Finally, Employees Retirement System of Texas acquired a new position in shares of Vail Resorts in the third quarter worth $46,000. 94.90% of the stock is owned by institutional investors and hedge funds.

Vail Resorts Trading Down 2.1%

Shares of MTN stock opened at $133.48 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.51 and a debt-to-equity ratio of 3.22. The firm's fifty day simple moving average is $128.70 and its 200 day simple moving average is $135.20. Vail Resorts, Inc. has a 1 year low of $118.51 and a 1 year high of $172.00. The firm has a market capitalization of $4.76 billion, a P/E ratio of 30.34, a price-to-earnings-growth ratio of 12.69 and a beta of 0.72.

Vail Resorts (NYSE:MTN - Get Free Report) last released its earnings results on Monday, June 8th. The company reported $8.81 earnings per share for the quarter, missing the consensus estimate of $8.97 by ($0.16). Vail Resorts had a net margin of 5.38% and a return on equity of 21.88%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business posted $10.54 EPS. The firm's quarterly revenue was down 7.0% on a year-over-year basis. As a group, sell-side analysts predict that Vail Resorts, Inc. will post 4.35 EPS for the current year.

Vail Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 25th will be paid a $2.22 dividend. This represents a $8.88 annualized dividend and a dividend yield of 6.7%. The ex-dividend date is Thursday, June 25th. Vail Resorts's dividend payout ratio (DPR) is presently 201.82%.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MTN. Wells Fargo & Company began coverage on shares of Vail Resorts in a research note on Wednesday, March 11th. They issued an "equal weight" rating and a $135.00 price target on the stock. Zacks Research downgraded shares of Vail Resorts from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 28th. Truist Financial dropped their price target on shares of Vail Resorts from $212.00 to $195.00 and set a "buy" rating on the stock in a research note on Tuesday. Mizuho set a $174.00 price target on shares of Vail Resorts in a research note on Tuesday. Finally, Morgan Stanley decreased their price target on shares of Vail Resorts from $151.00 to $147.00 and set an "equal weight" rating for the company in a report on Thursday, March 12th. Five research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $151.45.

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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