ProVise Management Group LLC Invests $292,000 in Vail Resorts, Inc. (NYSE:MTN)

Key Points

• ProVise Management Group LLC has acquired a new stake in Vail Resorts, purchasing 1,825 shares valued at approximately $292,000 during the first quarter.
• Analysts have recently adjusted their price targets for Vail Resorts, with Deutsche Bank lowering it from $183.00 to $171.00, while Truist Financial decreased it from $247.00 to $244.00, indicating a general consensus rating of "Hold."
• Vail Resorts has reported a quarterly earnings per share (EPS) of $10.54, beating expectations, and approved a dividend of $2.22 per share, marking a dividend yield of 6.0%.

ProVise Management Group LLC purchased a new stake 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 & Exchange Commission. The institutional investor purchased 1,825 shares of the company's stock, valued at approximately $292,000.

A number of other hedge funds also recently bought and sold shares of the business. Sterling Capital Management LLC increased its holdings in Vail Resorts by 8.5% during the fourth quarter. Sterling Capital Management LLC now owns 881 shares of the company's stock valued at $165,000 after buying an additional 69 shares during the period. State of Michigan Retirement System lifted its holdings in shares of Vail Resorts by 1.1% during the first quarter. State of Michigan Retirement System now owns 9,000 shares of the company's stock worth $1,440,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Vail Resorts by 1.0% during the 1st quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the company's stock valued at $1,680,000 after buying an additional 100 shares during the last quarter. Aurora Investment Managers LLC. boosted its position in Vail Resorts by 1.1% in the 1st quarter. Aurora Investment Managers LLC. now owns 9,513 shares of the company's stock worth $1,522,000 after purchasing an additional 104 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Vail Resorts by 6.7% in the 4th quarter. ProShare Advisors LLC now owns 1,751 shares of the company's stock worth $328,000 after acquiring an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Vail Resorts Stock Down 0.3%

Shares of NYSE:MTN traded down $0.48 on Monday, hitting $148.42. 634,992 shares of the company's stock were exchanged, compared to its average volume of 629,545. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.54 and a current ratio of 0.61. Vail Resorts, Inc. has a 1-year low of $129.85 and a 1-year high of $199.45. The company has a market capitalization of $5.51 billion, a PE ratio of 18.98, a P/E/G ratio of 1.84 and a beta of 0.90. The firm's 50-day moving average is $158.06 and its 200 day moving average is $155.93.

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

Vail Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 24th were issued a $2.22 dividend. This represents a $8.88 dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date was Tuesday, June 24th. Vail Resorts's dividend payout ratio (DPR) is currently 113.55%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MTN. Mizuho raised their target price on Vail Resorts from $215.00 to $216.00 and gave the stock an "outperform" rating in a research note on Friday, June 6th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Vail Resorts from $183.00 to $171.00 and set a "hold" rating on the stock in a report on Thursday, May 29th. Morgan Stanley restated an "equal weight" rating on shares of Vail Resorts in a report on Friday, June 6th. UBS Group lowered their price objective on Vail Resorts from $185.00 to $169.00 and set a "neutral" rating for the company in a research report on Wednesday, June 11th. Finally, Bank of America lifted their target price on Vail Resorts from $160.00 to $175.00 and gave the company a "neutral" rating in a research report on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $187.20.

Insider Activity

In related news, CFO Angela A. Korch acquired 200 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average price of $157.00 per share, with a total value of $31,400.00. Following the completion of the purchase, the chief financial officer directly owned 3,156 shares in the company, valued at approximately $495,492. The trade was a 6.77% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.20% of the stock is owned by corporate insiders.

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.