Sterneck Capital Management LLC Maintains Holdings in Peak Resorts, Inc. (SKIS)
Sterneck Capital Management LLC maintained its position in shares of Peak Resorts, Inc. (NASDAQ:SKIS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 213,508 shares of the company’s stock at the close of the second quarter. Sterneck Capital Management LLC owned approximately 1.53% of Peak Resorts worth $875,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in SKIS. Rutabaga Capital Management LLC MA acquired a new position in Peak Resorts in the 1st quarter valued at approximately $4,680,000. Vanguard Group Inc. increased its stake in Peak Resorts by 63.0% in the 2nd quarter. Vanguard Group Inc. now owns 419,553 shares of the company’s stock valued at $1,720,000 after buying an additional 162,100 shares during the period. Spark Investment Management LLC acquired a new position in Peak Resorts in the 2nd quarter valued at approximately $251,000. Renaissance Technologies LLC increased its stake in Peak Resorts by 56.5% in the 1st quarter. Renaissance Technologies LLC now owns 129,601 shares of the company’s stock valued at $732,000 after buying an additional 46,801 shares during the period. Finally, Pinnacle Associates Ltd. increased its stake in Peak Resorts by 29.5% in the 2nd quarter. Pinnacle Associates Ltd. now owns 100,688 shares of the company’s stock valued at $413,000 after buying an additional 22,960 shares during the period. Hedge funds and other institutional investors own 47.55% of the company’s stock.
In other news, major shareholder Cap 1 Llc bought 17,180 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was acquired at an average cost of $5.58 per share, with a total value of $95,864.40. Following the completion of the purchase, the insider now owns 1,742,705 shares of the company’s stock, valued at $9,724,293.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased 803,753 shares of company stock valued at $4,165,497 over the last three months. 16.52% of the stock is owned by company insiders.
Peak Resorts, Inc. (NASDAQ SKIS) traded up 1.05% during mid-day trading on Friday, reaching $4.80. 6,133 shares of the company’s stock traded hands. Peak Resorts, Inc. has a 1-year low of $3.90 and a 1-year high of $6.20. The firm has a 50-day moving average price of $4.56 and a 200-day moving average price of $4.90. The stock’s market cap is $67.11 million.
Peak Resorts (NASDAQ:SKIS) last released its earnings results on Wednesday, September 6th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.07). Peak Resorts had a negative net margin of 0.20% and a negative return on equity of 0.38%. The firm had revenue of $7.50 million during the quarter, compared to the consensus estimate of $7.22 million. During the same period in the prior year, the business posted ($0.56) earnings per share. Peak Resorts’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities research analysts anticipate that Peak Resorts, Inc. will post $0.07 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 10th. Investors of record on Thursday, October 26th will be paid a $0.07 dividend. The ex-dividend date is Wednesday, October 25th. This represents a $0.28 annualized dividend and a dividend yield of 5.89%. Peak Resorts’s dividend payout ratio is presently -127.27%.
Several research analysts have weighed in on SKIS shares. Stifel Nicolaus dropped their price objective on shares of Peak Resorts from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Friday, June 23rd. Robert W. Baird reiterated a “buy” rating and issued a $6.00 price objective on shares of Peak Resorts in a research note on Tuesday, September 19th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $7.00 price objective on shares of Peak Resorts in a research note on Thursday, September 7th. FBR & Co reiterated a “buy” rating and issued a $6.00 price objective on shares of Peak Resorts in a research note on Thursday, September 7th. Finally, Zacks Investment Research upgraded shares of Peak Resorts from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $6.17.
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Peak Resorts Profile
Peak Resorts, Inc is a holding company. The Company, through its subsidiaries, owns or leases, and operates day ski and overnight drive ski resorts. The Company’s ski resort operations consist of snow skiing, snowboarding and snow sports areas in Wildwood and Weston, Missouri; Bellefontaine and Cleveland, Ohio; Paoli, Indiana; Blakeslee and Lake Harmony, Pennsylvania; Bartlett, Bennington and Pinkham Notch, New Hampshire; West Dover, Vermont, and Hunter, New York, and an 18 hole golf course in West Dover, Vermont.
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