CIBC Asset Management Inc Raises Stake in Vail Resorts, Inc. (MTN)
CIBC Asset Management Inc lifted its position in shares of Vail Resorts, Inc. (NYSE:MTN) by 14.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,824 shares of the company’s stock after purchasing an additional 225 shares during the quarter. CIBC Asset Management Inc’s holdings in Vail Resorts were worth $501,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Harvest Fund Management Co. Ltd raised its position in Vail Resorts by 144.3% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 386 shares of the company’s stock valued at $106,000 after buying an additional 228 shares during the last quarter. Almanack Investment Partners LLC. purchased a new stake in Vail Resorts in the 2nd quarter valued at $122,000. Tower Research Capital LLC TRC raised its position in Vail Resorts by 56.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 504 shares of the company’s stock valued at $138,000 after buying an additional 181 shares during the last quarter. Hirtle Callaghan & Co LLC purchased a new stake in Vail Resorts in the 2nd quarter valued at $192,000. Finally, GWM Advisors LLC purchased a new stake in Vail Resorts in the 3rd quarter valued at $206,000. 95.79% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on the company. KeyCorp increased their price target on Vail Resorts from $290.00 to $300.00 and gave the company an “overweight” rating in a research report on Monday, October 1st. ValuEngine lowered Vail Resorts from a “buy” rating to a “hold” rating in a research report on Thursday, September 6th. Macquarie raised Vail Resorts from a “neutral” rating to an “outperform” rating in a research report on Monday, October 15th. They noted that the move was a valuation call. Zacks Investment Research lowered Vail Resorts from a “buy” rating to a “hold” rating in a research report on Wednesday, September 26th. Finally, Berenberg Bank raised Vail Resorts from a “hold” rating to a “buy” rating in a research report on Monday, October 29th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $293.11.
Vail Resorts (NYSE:MTN) last announced its quarterly earnings data on Friday, September 28th. The company reported ($2.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.26) by $0.19. The firm had revenue of $211.60 million during the quarter, compared to the consensus estimate of $211.60 million. Vail Resorts had a return on equity of 14.43% and a net margin of 18.89%. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.43) EPS. On average, equities analysts forecast that Vail Resorts, Inc. will post 7.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Tuesday, October 9th were paid a $1.47 dividend. The ex-dividend date of this dividend was Friday, October 5th. This represents a $5.88 dividend on an annualized basis and a yield of 2.22%. Vail Resorts’s dividend payout ratio (DPR) is presently 93.48%.
In other Vail Resorts news, EVP Kirsten A. Lynch sold 9,078 shares of the company’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $263.06, for a total value of $2,388,058.68. Following the completion of the transaction, the executive vice president now owns 34,641 shares in the company, valued at approximately $9,112,661.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter A. Vaughn sold 400 shares of the company’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $254.59, for a total value of $101,836.00. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.
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Vail Resorts Profile
Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and urban ski areas in the United States. The company operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 11 mountain resorts, including Vail Mountain, Breckenridge Ski, Keystone, and Beaver Creek resorts in Colorado; Park City resort in Utah; Heavenly Mountain, Northstar, and Kirkwood Mountain resorts in the Lake Tahoe area of California and Nevada; Whistler Blackcomb in Canada; Stowe Mountain resort in Vermont; and Perisher in Australia, as well as 3 urban ski areas, such as Wilmot Mountain in Wisconsin, Afton Alps in Minnesota, and Mount Brighton in Michigan.
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