Connor Clark & Lunn Investment Management Ltd. Buys New Stake in Vail Resorts, Inc. $MTN

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Vail Resorts, Inc. (NYSE:MTN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 140,884 shares of the company’s stock, valued at approximately $19,181,000.

Other hedge funds have also recently added to or reduced their stakes in the company. BOKF NA increased its holdings in Vail Resorts by 833.3% in the third quarter. BOKF NA now owns 168 shares of the company’s stock valued at $25,000 after buying an additional 150 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Vail Resorts by 815.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 174 shares of the company’s stock worth $27,000 after acquiring an additional 155 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Vail Resorts by 83.3% during the 4th quarter. Golden State Wealth Management LLC now owns 220 shares of the company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Danske Bank A S purchased a new stake in shares of Vail Resorts during the 3rd quarter worth about $30,000. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Vail Resorts by 1,585.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 236 shares of the company’s stock valued at $31,000 after acquiring an additional 222 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

Vail Resorts Stock Performance

NYSE:MTN opened at $148.07 on Wednesday. The company has a debt-to-equity ratio of 3.22, a quick ratio of 0.79 and a current ratio of 0.91. The stock has a market capitalization of $5.28 billion, a PE ratio of 33.65, a P/E/G ratio of 9.90 and a beta of 0.70. Vail Resorts, Inc. has a fifty-two week low of $118.51 and a fifty-two week high of $165.50. The company has a fifty day moving average of $146.18 and a two-hundred day moving average of $137.01.

Vail Resorts (NYSE:MTN) last announced its earnings results on Monday, June 8th. The company reported $8.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.97 by ($0.16). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.20 billion. Vail Resorts had a net margin of 5.38% and a return on equity of 21.88%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $10.54 EPS. As a group, research analysts forecast that Vail Resorts, Inc. will post 4.32 earnings per share for the current fiscal year.

Vail Resorts Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 9th. Investors of record on Thursday, June 25th were paid a $2.22 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $8.88 dividend on an annualized basis and a yield of 6.0%. Vail Resorts’s dividend payout ratio (DPR) is currently 201.82%.

Analyst Ratings Changes

MTN has been the subject of several recent analyst reports. UBS Group restated a “neutral” rating on shares of Vail Resorts in a research note on Tuesday, June 9th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Vail Resorts in a research report on Tuesday, July 7th. Mizuho set a $174.00 price target on Vail Resorts in a research report on Tuesday, June 9th. Barclays dropped their price objective on Vail Resorts from $138.00 to $119.00 and set an “underweight” rating on the stock in a report on Tuesday, June 9th. Finally, Stifel Nicolaus cut their price objective on Vail Resorts from $172.00 to $167.00 and set a “buy” rating for the company in a research report on Tuesday, June 9th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, Vail Resorts currently has an average rating of “Hold” and a consensus target price of $149.83.

About Vail Resorts

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.