The Manufacturers Life Insurance Company Sells 33,064 Shares of Vail Resorts, Inc. $MTN

Key Points

• The Manufacturers Life Insurance Company has reduced its stake in Vail Resorts, Inc. by 3.4%, selling 33,064 shares and now holding approximately 2.53% of the company, valued at $150.96 million.
• Vail Resorts reported a quarterly earnings per share (EPS) of $10.54, exceeding analysts' expectations and marking a year-over-year revenue increase of 1%. The company also maintained a debt-to-equity ratio of 1.70.
• Vail Resorts announced a quarterly dividend of $2.22 per share that reflects an annualized yield of 5.4%, although its payout ratio stands at a high 113.55%.

The Manufacturers Life Insurance Company trimmed its position in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 943,404 shares of the company's stock after selling 33,064 shares during the period. The Manufacturers Life Insurance Company owned 2.53% of Vail Resorts worth $150,964,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. SouthState Corp acquired a new position in shares of Vail Resorts in the first quarter valued at $29,000. Heck Capital Advisors LLC acquired a new position in shares of Vail Resorts in the fourth quarter valued at $33,000. Golden State Wealth Management LLC increased its holdings in shares of Vail Resorts by 102.5% in the first quarter. Golden State Wealth Management LLC now owns 243 shares of the company's stock valued at $39,000 after purchasing an additional 123 shares during the last quarter. Alpine Bank Wealth Management acquired a new position in shares of Vail Resorts in the first quarter valued at $40,000. Finally, GAMMA Investing LLC increased its holdings in shares of Vail Resorts by 75.3% in the first quarter. GAMMA Investing LLC now owns 270 shares of the company's stock valued at $43,000 after purchasing an additional 116 shares during the last quarter. 94.90% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Vail Resorts Stock Performance

NYSE MTN traded down $1.64 during trading on Thursday, reaching $157.54. The company's stock had a trading volume of 96,869 shares, compared to its average volume of 656,751. The company has a current ratio of 0.61, a quick ratio of 0.54 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 20.15, a price-to-earnings-growth ratio of 2.03 and a beta of 0.87. Vail Resorts, Inc. has a 12 month low of $129.85 and a 12 month high of $199.45. The firm has a 50 day moving average price of $158.21 and a 200 day moving average price of $153.94.

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

Vail Resorts Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Tuesday, June 24th were given a dividend of $2.22 per share. The ex-dividend date of this dividend was Tuesday, June 24th. This represents a $8.88 annualized dividend and a yield of 5.6%. Vail Resorts's dividend payout ratio is currently 113.55%.

Wall Street Analysts Forecast Growth

MTN has been the topic of several research reports. Mizuho upped their price objective on shares of Vail Resorts from $215.00 to $216.00 and gave the company an "outperform" rating in a report on Friday, June 6th. Morgan Stanley reiterated an "equal weight" rating on shares of Vail Resorts in a report on Friday, June 6th. JPMorgan Chase & Co. upgraded shares of Vail Resorts from an "underweight" rating to a "neutral" rating and set a $167.00 price objective on the stock in a report on Wednesday, May 28th. Bank of America upped their price target on shares of Vail Resorts from $160.00 to $175.00 and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Vail Resorts from $183.00 to $171.00 and set a "hold" rating on the stock in a research report on Thursday, May 29th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Vail Resorts presently has a consensus rating of "Hold" and an average price target of $187.20.

Vail Resorts 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.