Sit Investment Associates Inc. Cuts Stake in Vail Resorts, Inc. $MTN

Key Points

• Sit Investment Associates Inc. reduced its stake in Vail Resorts by 47.3%, leaving them with 2,615 shares valued at approximately $418,000.
• Vail Resorts reported a quarterly EPS of $10.54, exceeding analysts' expectations by $0.54, but its revenue of $1.30 billion was slightly below the $1.31 billion consensus estimate.
• The company's quarterly dividend was recently paid at $2.22 per share, representing an annualized yield of 5.8% with a payout ratio of 113.55%.

Sit Investment Associates Inc. lowered its holdings in shares of Vail Resorts, Inc. (NYSE:MTN - Free Report) by 47.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,615 shares of the company's stock after selling 2,350 shares during the quarter. Sit Investment Associates Inc.'s holdings in Vail Resorts were worth $418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Point72 Asset Management L.P. increased its holdings in Vail Resorts by 170.1% in the 4th quarter. Point72 Asset Management L.P. now owns 546,423 shares of the company's stock worth $102,427,000 after acquiring an additional 344,095 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Vail Resorts by 42.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 976,468 shares of the company's stock worth $183,039,000 after acquiring an additional 289,484 shares in the last quarter. First Pacific Advisors LP increased its holdings in Vail Resorts by 54.2% in the 1st quarter. First Pacific Advisors LP now owns 805,584 shares of the company's stock worth $128,910,000 after acquiring an additional 283,299 shares in the last quarter. TPG GP A LLC increased its holdings in Vail Resorts by 19.9% in the 4th quarter. TPG GP A LLC now owns 1,036,487 shares of the company's stock worth $194,289,000 after acquiring an additional 172,082 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC increased its holdings in Vail Resorts by 402.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 186,356 shares of the company's stock worth $34,932,000 after acquiring an additional 149,237 shares in the last quarter. Hedge funds and other institutional investors own 94.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Morgan Stanley reissued an "equal weight" rating on shares of Vail Resorts in a report on Friday, June 6th. JPMorgan Chase & Co. upgraded Vail Resorts from an "underweight" rating to a "neutral" rating and set a $167.00 price target for the company in a research note on Wednesday, May 28th. Truist Financial dropped their price target on Vail Resorts from $247.00 to $244.00 and set a "buy" rating for the company in a research note on Friday, June 6th. Deutsche Bank Aktiengesellschaft dropped their price target on Vail Resorts from $183.00 to $171.00 and set a "hold" rating for the company in a research note on Thursday, May 29th. Finally, UBS Group dropped their price target on Vail Resorts from $185.00 to $169.00 and set a "neutral" rating for the company in a research note on Wednesday, June 11th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $187.20.

Vail Resorts Trading Up 0.7%

MTN stock traded up $1.13 during midday trading on Tuesday, reaching $155.38. The company's stock had a trading volume of 514,816 shares, compared to its average volume of 672,210. The company has a debt-to-equity ratio of 1.70, a quick ratio of 0.54 and a current ratio of 0.61. The stock has a fifty day simple moving average of $156.93 and a two-hundred day simple moving average of $154.29. Vail Resorts, Inc. has a 1 year low of $129.85 and a 1 year high of $199.45. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 19.87, a PEG ratio of 1.90 and a beta of 0.90.

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

Vail Resorts Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 24th were paid a $2.22 dividend. The ex-dividend date was Tuesday, June 24th. This represents a $8.88 dividend on an annualized basis and a yield of 5.7%. Vail Resorts's dividend payout ratio (DPR) is presently 113.55%.

Insider Activity at Vail Resorts

In other news, CFO Angela A. Korch purchased 200 shares of the business's stock in a transaction dated Friday, June 20th. The shares were purchased at an average price of $157.00 per share, for a total transaction of $31,400.00. Following the completion of the purchase, the chief financial officer owned 3,156 shares in the company, valued at approximately $495,492. This represents a 6.77% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company's stock.

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.