Mirae Asset Global Investments Co. Ltd. Buys New Stake in Vail Resorts, Inc. $MTN

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Vail Resorts, Inc. (NYSE:MTN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 33,960 shares of the company’s stock, valued at approximately $4,659,000.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of America Corp DE purchased a new position in shares of Vail Resorts in the second quarter valued at $28,937,000. The Manufacturers Life Insurance Company boosted its position in shares of Vail Resorts by 26.0% in the first quarter. The Manufacturers Life Insurance Company now owns 976,732 shares of the company’s stock worth $125,334,000 after buying an additional 201,750 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Vail Resorts during the second quarter valued at about $22,877,000. BlackRock Inc. bought a new stake in shares of Vail Resorts in the 2nd quarter worth about $464,712,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Vail Resorts in the 2nd quarter worth about $1,360,000. Hedge funds and other institutional investors own 94.90% of the company’s stock.

Vail Resorts Trading Down 1.7%

Shares of NYSE:MTN opened at $158.42 on Friday. The company’s 50-day moving average price is $143.88 and its two-hundred day moving average price is $138.71. Vail Resorts, Inc. has a one year low of $118.51 and a one year high of $163.99. The company has a debt-to-equity ratio of 5.57, a current ratio of 0.80 and a quick ratio of 0.68. The stock has a market capitalization of $5.65 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 11.84 and a beta of 0.73.

Vail Resorts (NYSE:MTN) last posted its quarterly earnings results on Monday, September 28th. The company reported ($5.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($5.35) by $0.01. The firm had revenue of $278.07 million during the quarter, compared to the consensus estimate of $269.30 million. Vail Resorts had a return on equity of 22.82% and a net margin of 5.20%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company earned ($5.08) earnings per share. On average, equities analysts forecast that Vail Resorts, Inc. will post 5.51 EPS for the current fiscal year.

Vail Resorts Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 27th. Shareholders of record on Thursday, October 8th were paid a $2.22 dividend. The ex-dividend date was Thursday, October 8th. This represents a $8.88 annualized dividend and a yield of 5.6%. Vail Resorts’s dividend payout ratio is currently 214.49%.

Analyst Upgrades and Downgrades

MTN has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on shares of Vail Resorts from $147.00 to $142.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 30th. Wells Fargo & Company raised their price target on Vail Resorts from $125.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 29th. Weiss Ratings downgraded shares of Vail Resorts from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, September 14th. Stifel Nicolaus raised their price target on Vail Resorts from $157.00 to $172.00 and gave the company a “buy” rating in a report on Monday, October 12th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $162.00 target price on shares of Vail Resorts in a research note on Tuesday, September 29th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $150.00.

About Vail Resorts

Vail Resorts, Inc is a mountain resort company that operates ski and summer resorts, lodging properties, restaurants, retail locations and ski and snowboard schools. Its business serves vacationers, season-pass holders and day visitors through a combination of resort operations, hospitality and recreational services.

The company’s portfolio includes well-known North American destinations such as Vail, Beaver Creek, Breckenridge, Keystone, Park City, Whistler Blackcomb, Stowe and Heavenly.