Corundum Group Inc. purchased a new position in shares of Vail Resorts Inc. (NYSE:MTN) during the second quarter, Holdings Channel reports. The institutional investor purchased 1,500 shares of the company’s stock, valued at approximately $207,000. Vail Resorts makes up approximately 0.3% of Corundum Group Inc.’s portfolio, making the stock its 25th largest position.
Other hedge funds also recently made changes to their positions in the company. BlueMountain Capital Management LLC bought a new stake in shares of Vail Resorts during the first quarter worth about $210,000. Seven Eight Capital LLC increased its stake in shares of Vail Resorts by 30.8% in the first quarter. Seven Eight Capital LLC now owns 1,700 shares of the company’s stock worth $227,000 after buying an additional 400 shares in the last quarter. Raymond James Trust N.A. bought a new stake in shares of Vail Resorts during the second quarter worth about $228,000. Parametrica Management Ltd bought a new stake in shares of Vail Resorts during the second quarter worth about $245,000. Finally, Miles Capital Inc. bought a new stake in shares of Vail Resorts during the first quarter worth about $265,000. Institutional investors own 98.38% of the company’s stock.
Vail Resorts Inc. (NYSE:MTN) traded up 1.47% during midday trading on Monday, reaching $155.66. 266,376 shares of the company’s stock traded hands. The firm’s 50-day moving average is $158.30 and its 200-day moving average is $142.90. The company has a market capitalization of $5.63 billion, a price-to-earnings ratio of 38.82 and a beta of 0.66. Vail Resorts Inc. has a 1-year low of $107.99 and a 1-year high of $162.95.
Vail Resorts (NYSE:MTN) last posted its quarterly earnings results on Monday, September 26th. The company reported ($1.80) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.67) by $0.13. The business earned $179.88 million during the quarter. Vail Resorts had a return on equity of 17.22% and a net margin of 9.35%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.92) earnings per share. Analysts forecast that Vail Resorts Inc. will post $5.08 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 25th. Stockholders of record on Friday, October 7th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, October 5th. Vail Resorts’s dividend payout ratio is currently 82.23%.
MTN has been the topic of a number of research reports. Janney Montgomery Scott restated a “buy” rating and issued a $170.00 target price (up from $153.00) on shares of Vail Resorts in a report on Wednesday, August 10th. Barclays PLC restated a “buy” rating and issued a $175.00 target price on shares of Vail Resorts in a report on Tuesday, September 27th. Zacks Investment Research upgraded shares of Vail Resorts from a “hold” rating to a “buy” rating and set a $180.00 target price on the stock in a report on Wednesday, August 24th. MKM Partners set a $180.00 target price on shares of Vail Resorts and gave the stock a “buy” rating in a report on Tuesday, September 20th. Finally, Credit Suisse Group AG set a $153.00 target price on shares of Vail Resorts and gave the stock a “buy” rating in a report on Monday, September 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $153.76.
In other news, Director John F. Sorte sold 4,688 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $155.94, for a total value of $731,046.72. Following the transaction, the director now directly owns 63,147 shares of the company’s stock, valued at $9,847,143.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Patricia A. Campbell sold 291 shares of the firm’s stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $157.09, for a total transaction of $45,713.19. Following the completion of the transaction, the insider now directly owns 19,593 shares in the company, valued at $3,077,864.37. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.
Vail Resorts Company Profile
Vail Resorts, Inc is a holding company. The Company operates through three segments: Mountain, Lodging and Real Estate. The Company’s Mountain segment operates around 10 mountain resort properties and two urban ski areas, as well as ancillary services, primarily including, ski school, dining and retail/rental operations.
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