Vail Resorts Inc. (MTN) Sees Large Decline in Short Interest
Vail Resorts Inc. (NYSE:MTN) was the recipient of a significant decline in short interest in October. As of October 31st, there was short interest totalling 781,761 shares, a decline of 34.6% from the October 14th total of 1,195,358 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily volume of 337,945 shares, the days-to-cover ratio is currently 2.3 days.
Vail Resorts (NYSE:MTN) opened at 157.35 on Thursday. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 39.24 and a beta of 0.48. The company’s 50-day moving average price is $156.11 and its 200 day moving average price is $147.17. Vail Resorts has a 1-year low of $114.24 and a 1-year high of $162.95.
Vail Resorts (NYSE:MTN) last released its quarterly earnings results on Monday, September 26th. The company reported ($1.80) earnings per share for the quarter, missing the consensus estimate of ($1.67) by $0.13. The company had revenue of $179.88 million for the quarter. Vail Resorts had a return on equity of 17.22% and a net margin of 9.35%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.92) earnings per share. On average, equities analysts expect that Vail Resorts will post $5.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 25th. Shareholders of record on Friday, October 7th were given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Wednesday, October 5th. Vail Resorts’s payout ratio is 82.23%.
In related news, Director John F. Sorte sold 4,688 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $155.94, for a total transaction of $731,046.72. Following the completion of the sale, the director now directly owns 63,147 shares in the company, valued at $9,847,143.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patricia A. Campbell sold 291 shares of the business’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $157.09, for a total value of $45,713.19. Following the sale, the insider now owns 19,593 shares of the company’s stock, valued at $3,077,864.37. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Vail Resorts by 13.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,122 shares of the company’s stock valued at $176,000 after buying an additional 132 shares during the last quarter. Pacer Advisors Inc. increased its position in Vail Resorts by 502.4% in the second quarter. Pacer Advisors Inc. now owns 1,271 shares of the company’s stock valued at $176,000 after buying an additional 1,060 shares during the last quarter. American Assets Capital Advisers bought a new position in Vail Resorts during the third quarter valued at $204,000. US Bancorp DE increased its position in Vail Resorts by 31.5% in the third quarter. US Bancorp DE now owns 1,415 shares of the company’s stock valued at $222,000 after buying an additional 339 shares during the last quarter. Finally, World Asset Management Inc bought a new position in Vail Resorts during the third quarter valued at $225,000. 98.82% of the stock is owned by institutional investors.
MTN has been the topic of a number of recent research reports. KeyCorp boosted their price objective on Vail Resorts from $150.00 to $175.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 23rd. Janney Montgomery Scott reissued a “buy” rating and set a $170.00 price objective on shares of Vail Resorts in a research note on Tuesday, September 27th. Credit Suisse Group AG set a $153.00 price objective on Vail Resorts and gave the stock a “buy” rating in a research note on Monday, September 12th. MKM Partners set a $180.00 price objective on Vail Resorts and gave the stock a “buy” rating in a research note on Tuesday, September 20th. Finally, Zacks Investment Research lowered Vail Resorts from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $155.09.
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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