Vail Resorts, Inc. $MTN Stake Lessened by Geode Capital Management LLC

Key Points

• Geode Capital Management cut its Vail Resorts stake by 1.4% in the fourth quarter, but still held 700,826 shares worth about $93.1 million at the end of the period.
• Several analysts turned more cautious on MTN, including downgrades and lower price targets; the stock currently carries a consensus Hold rating with an average target price of $161.82.
• Vail Resorts reported quarterly EPS of $5.87, missing estimates, while revenue of $1.08 billion also came in below expectations and fell 4.7% year over year.

Geode Capital Management LLC lessened its stake in Vail Resorts, Inc. (NYSE:MTN - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 700,826 shares of the company's stock after selling 9,627 shares during the period. Geode Capital Management LLC owned about 1.96% of Vail Resorts worth $93,089,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in MTN. Goldman Sachs Group Inc. increased its stake in shares of Vail Resorts by 2.9% in the first quarter. Goldman Sachs Group Inc. now owns 121,123 shares of the company's stock worth $19,382,000 after buying an additional 3,440 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Vail Resorts by 1.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 148,235 shares of the company's stock worth $23,721,000 after purchasing an additional 2,824 shares during the period. Prudential Financial Inc. boosted its holdings in Vail Resorts by 24.1% in the second quarter. Prudential Financial Inc. now owns 3,086 shares of the company's stock worth $525,000 after purchasing an additional 600 shares during the period. EverSource Wealth Advisors LLC boosted 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 worth $27,000 after purchasing an additional 155 shares during the period. Finally, Marshall Wace LLP acquired a new position in Vail Resorts in the second quarter worth $2,119,000. Institutional investors own 94.90% of the company's stock.

Analyst Upgrades and Downgrades

MTN has been the subject of a number of research reports. Weiss Ratings downgraded shares of Vail Resorts from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, April 9th. Barclays decreased their price objective on shares of Vail Resorts from $140.00 to $138.00 and set an "underweight" rating for the company in a report on Tuesday, March 10th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Vail Resorts from $159.00 to $151.00 and set a "hold" rating for the company in a report on Friday, March 6th. Wells Fargo & Company initiated coverage on shares of Vail Resorts in a report on Wednesday, March 11th. They issued an "equal weight" rating and a $135.00 price objective for the company. Finally, Morgan Stanley decreased their price objective 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 analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $161.82.

Vail Resorts Stock Performance

MTN stock opened at $135.34 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.51 and a current ratio of 0.62. The stock has a market capitalization of $4.82 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 11.52 and a beta of 0.72. Vail Resorts, Inc. has a 1 year low of $118.51 and a 1 year high of $172.00. The stock's fifty day moving average is $127.96 and its two-hundred day moving average is $135.35.

Vail Resorts (NYSE:MTN - Get Free Report) last posted its earnings results on Monday, March 9th. The company reported $5.87 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $6.06 by ($0.19). The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.11 billion. Vail Resorts had a net margin of 7.89% and a return on equity of 29.72%. The business's quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.56 earnings per share. On average, research analysts predict that Vail Resorts, Inc. will post 4.76 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Angela A. Korch bought 190 shares of the business's stock in a transaction on Monday, March 16th. The shares were bought at an average cost 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 of the company's stock, valued at $730,317.15. This represents a 3.55% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert A. Katz bought 37,500 shares of the business's stock in a transaction on Monday, March 16th. The stock was bought at an average price of $131.81 per share, for a total transaction of $4,942,875.00. Following the completion of the purchase, the chief executive officer directly owned 285,312 shares of the company's stock, valued at $37,606,974.72. The trade was a 15.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.20% of the company's stock.

Vail Resorts 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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