First Republic Investment Management Inc. decreased its holdings in shares of Vail Resorts, Inc. (NYSE:MTN) by 17.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,939 shares of the company’s stock after selling 627 shares during the quarter. First Republic Investment Management Inc.’s holdings in Vail Resorts were worth $639,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of MTN. Sit Investment Associates Inc. boosted its stake in shares of Vail Resorts by 58.2% during the fourth quarter. Sit Investment Associates Inc. now owns 13,720 shares of the company’s stock worth $2,892,000 after buying an additional 5,050 shares during the period. Gateway Investment Advisers LLC boosted its stake in shares of Vail Resorts by 0.3% during the fourth quarter. Gateway Investment Advisers LLC now owns 40,897 shares of the company’s stock worth $8,622,000 after buying an additional 124 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of Vail Resorts by 32,150.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,580 shares of the company’s stock worth $543,000 after buying an additional 2,572 shares during the period. Virtu Financial LLC acquired a new stake in shares of Vail Resorts during the fourth quarter worth about $601,000. Finally, Highwater Wealth Management LLC acquired a new stake in shares of Vail Resorts during the fourth quarter worth about $32,000. 96.70% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Peter A. Vaughn sold 1,000 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $216.47, for a total transaction of $216,470.00. Following the completion of the transaction, the director now directly owns 8,372 shares of the company’s stock, valued at $1,812,286.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David T. Shapiro sold 5,312 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $213.51, for a total transaction of $1,134,165.12. Following the transaction, the executive vice president now directly owns 4,573 shares of the company’s stock, valued at $976,381.23. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.
Vail Resorts (NYSE:MTN) last posted its quarterly earnings results on Friday, March 8th. The company reported $5.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.79 by $0.23. The firm had revenue of $849.60 million during the quarter, compared to analysts’ expectations of $841.76 million. Vail Resorts had a net margin of 12.76% and a return on equity of 15.93%. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same period in the prior year, the company posted $4.12 earnings per share. As a group, sell-side analysts predict that Vail Resorts, Inc. will post 6.98 EPS for the current fiscal year.
Several brokerages have recently weighed in on MTN. Zacks Investment Research downgraded shares of Vail Resorts from a “buy” rating to a “sell” rating in a research note on Monday. Deutsche Bank reiterated a “buy” rating and set a $267.00 target price on shares of Vail Resorts in a research note on Monday, April 29th. SunTrust Banks assumed coverage on shares of Vail Resorts in a report on Friday, April 26th. They set a “buy” rating and a $242.00 price target for the company. Jefferies Financial Group assumed coverage on shares of Vail Resorts in a report on Monday, April 22nd. They set a “hold” rating and a $233.00 price target for the company. Finally, Macquarie cut shares of Vail Resorts from an “outperform” rating to a “neutral” rating and set a $221.62 price target for the company. in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. Vail Resorts presently has a consensus rating of “Hold” and a consensus price target of $254.06.
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Vail Resorts Company 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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