Connor Clark & Lunn Investment Management Ltd. Sells 5,597 Shares of Vail Resorts, Inc. $MTN

Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Vail Resorts, Inc. (NYSE:MTN) by 48.0% in the second quarter, Holdings Channel reports. The fund owned 6,073 shares of the company’s stock after selling 5,597 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Vail Resorts were worth $954,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Argonautica Private Wealth Management Inc. grew its stake in shares of Vail Resorts by 4.9% during the 2nd quarter. Argonautica Private Wealth Management Inc. now owns 1,719 shares of the company’s stock valued at $270,000 after purchasing an additional 81 shares during the period. Linden Thomas Advisory Services LLC grew its position in Vail Resorts by 0.7% during the second quarter. Linden Thomas Advisory Services LLC now owns 16,585 shares of the company’s stock valued at $2,606,000 after buying an additional 108 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Vail Resorts by 196.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 187 shares of the company’s stock valued at $29,000 after buying an additional 124 shares during the last quarter. Canton Hathaway LLC raised its position in Vail Resorts by 14.7% in the second quarter. Canton Hathaway LLC now owns 975 shares of the company’s stock worth $153,000 after acquiring an additional 125 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in Vail Resorts by 222.7% in the second quarter. Parkside Financial Bank & Trust now owns 213 shares of the company’s stock worth $33,000 after acquiring an additional 147 shares during the period. 94.90% of the stock is owned by hedge funds and other institutional investors.

Vail Resorts Price Performance

NYSE:MTN opened at $141.13 on Wednesday. The business’s 50-day simple moving average is $149.11 and its two-hundred day simple moving average is $153.25. Vail Resorts, Inc. has a 52 week low of $129.85 and a 52 week high of $199.45. The stock has a market cap of $5.06 billion, a PE ratio of 19.05, a P/E/G ratio of 2.50 and a beta of 0.90. The company has a quick ratio of 0.56, a current ratio of 0.63 and a debt-to-equity ratio of 3.44.

Vail Resorts (NYSE:MTN) last released its earnings results on Monday, September 29th. The company reported ($5.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($4.75) by ($0.33). The business had revenue of $271.29 million for the quarter, compared to analysts’ expectations of $272.87 million. Vail Resorts had a return on equity of 31.54% and a net margin of 9.45%.The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($4.67) EPS. As a group, analysts forecast that Vail Resorts, Inc. will post 7.62 EPS for the current fiscal year.

Vail Resorts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 27th. Stockholders of record on Thursday, October 9th were given a dividend of $2.22 per share. The ex-dividend date was Thursday, October 9th. This represents a $8.88 annualized dividend and a dividend yield of 6.3%. Vail Resorts’s dividend payout ratio (DPR) is presently 119.84%.

Analysts Set New Price Targets

MTN has been the subject of a number of recent research reports. Barclays cut their price objective on shares of Vail Resorts from $152.00 to $145.00 and set an “underweight” rating for the company in a research report on Tuesday, September 30th. Bank of America cut their price target on Vail Resorts from $175.00 to $165.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. Mizuho decreased their price objective on Vail Resorts from $216.00 to $195.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 30th. Zacks Research cut Vail Resorts from a “hold” rating to a “strong sell” rating in a research report on Wednesday, October 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $175.00 price objective (down from $180.00) on shares of Vail Resorts in a research note on Tuesday, September 30th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $175.60.

Insider Activity at Vail Resorts

In related news, CFO Angela A. Korch bought 210 shares of the stock in a transaction dated Tuesday, October 7th. The shares were purchased at an average price of $155.00 per share, with a total value of $32,550.00. Following the completion of the acquisition, the chief financial officer owned 4,905 shares of the company’s stock, valued at $760,275. This represents a 4.47% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.20% of the company’s stock.

Vail Resorts Company Profile

Vail Resorts, Inc, through its subsidiaries, operates mountain resorts and regional ski areas in the United States. It operates through three segments: Mountain, Lodging, and Real Estate. The Mountain segment operates 41 destination mountain resorts and regional ski areas. This segment is also involved in the ancillary activities, including ski school, dining, and retail/rental operations, as well as real estate brokerage activities.