Oppenheimer & Co. Inc. Sells 6,955 Shares of Vail Resorts, Inc. $MTN

Key Points

• Oppenheimer & Co. cut its Vail Resorts stake by 58.2% in the third quarter, selling 6,955 shares and retaining 4,995 shares valued at about $685,000.
• Institutional ownership remains high at 94.9%. Analysts have a consensus “Hold” rating, with an average price target of $150.
• Vail Resorts reported quarterly revenue of $278.1 million, up 2.5% year over year and above estimates; its quarterly loss per share was also slightly better than expected.

Oppenheimer & Co. Inc. lowered its position in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) by 58.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,995 shares of the company's stock after selling 6,955 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Vail Resorts were worth $685,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE acquired a new stake in Vail Resorts during the second quarter worth approximately $28,937,000. The Manufacturers Life Insurance Company lifted its stake in Vail Resorts by 26.0% in the first quarter. The Manufacturers Life Insurance Company now owns 976,732 shares of the company's stock valued at $125,334,000 after buying an additional 201,750 shares during the period. Wellington Management Group LLP acquired a new position in Vail Resorts in the second quarter valued at approximately $22,877,000. BlackRock Inc. acquired a new position in Vail Resorts in the second quarter valued at approximately $464,712,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Vail Resorts during the 2nd quarter worth approximately $1,360,000. 94.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citizens Jmp started coverage on shares of Vail Resorts in a research report on Thursday, October 15th. They set a "market perform" rating for the company. Barclays dropped their target price on shares of Vail Resorts from $119.00 to $117.00 and set an "underweight" rating on the stock in a research report on Tuesday, September 29th. Wells Fargo & Company increased their target price on shares of Vail Resorts from $125.00 to $130.00 and gave the stock an "equal weight" rating in a research note on Tuesday, September 29th. Morgan Stanley cut their target price on shares of Vail Resorts from $147.00 to $142.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 30th. Finally, UBS Group restated a "neutral" rating on shares of Vail Resorts in a report on Friday, September 18th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $150.00.

Vail Resorts Trading Up 4.8%

NYSE MTN opened at $160.68 on Thursday. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 38.81, a P/E/G ratio of 11.27 and a beta of 0.73. Vail Resorts, Inc. has a 52 week low of $118.51 and a 52 week high of $163.34. The business has a 50 day moving average price of $143.68 and a 200-day moving average price of $138.63. The company has a quick ratio of 0.68, a current ratio of 0.80 and a debt-to-equity ratio of 5.57.

Vail Resorts (NYSE:MTN - Get Free Report) last issued its earnings results on Monday, September 28th. The company reported ($5.34) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($5.35) by $0.01. Vail Resorts had a return on equity of 22.82% and a net margin of 5.20%. The company had revenue of $278.07 million for the quarter, compared to analysts' expectations of $269.30 million. During the same period last year, the business earned ($5.08) EPS. Vail Resorts's quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts expect that Vail Resorts, Inc. will post 5.51 earnings per share for the current fiscal year.

Vail Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 27th. Shareholders of record on Thursday, October 8th were issued a dividend of $2.22 per share. The ex-dividend date was Thursday, October 8th. This represents a $8.88 annualized dividend and a yield of 5.5%. Vail Resorts's dividend payout ratio is presently 214.49%.

Vail Resorts Company Profile

Vail Resorts, Inc is a mountain resort company that operates ski and summer resorts, lodging properties, restaurants, retail locations and ski and snowboard schools. Its business serves vacationers, season-pass holders and day visitors through a combination of resort operations, hospitality and recreational services.

The company's portfolio includes well-known North American destinations such as Vail, Beaver Creek, Breckenridge, Keystone, Park City, Whistler Blackcomb, Stowe and Heavenly.

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.