Fred Alger Management LLC Has $1.62 Million Holdings in Vail Resorts, Inc. (NYSE:MTN)

Fred Alger Management LLC decreased its stake in Vail Resorts, Inc. (NYSE:MTN) by 16.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 9,268 shares of the company’s stock after selling 1,849 shares during the period. Fred Alger Management LLC’s holdings in Vail Resorts were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in Vail Resorts by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,154,759 shares of the company’s stock worth $201,263,000 after purchasing an additional 40,643 shares during the last quarter. TPG GP A LLC grew its position in Vail Resorts by 17.4% during the second quarter. TPG GP A LLC now owns 899,446 shares of the company’s stock worth $162,017,000 after buying an additional 133,607 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Vail Resorts by 8.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 686,984 shares of the company’s stock valued at $119,734,000 after acquiring an additional 51,438 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Vail Resorts by 36.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 356,386 shares of the company’s stock worth $64,195,000 after acquiring an additional 94,923 shares during the period. Finally, First Pacific Advisors LP acquired a new stake in shares of Vail Resorts during the 2nd quarter worth approximately $62,466,000. Institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, CFO Angela A. Korch acquired 165 shares of the company’s stock in a transaction dated Thursday, October 3rd. The shares were bought at an average price of $173.09 per share, for a total transaction of $28,559.85. Following the purchase, the chief financial officer now directly owns 2,187 shares in the company, valued at approximately $378,547.83. This trade represents a 8.16 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John F. Sorte sold 1,670 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $173.07, for a total transaction of $289,026.90. Following the completion of the transaction, the director now directly owns 45,111 shares of the company’s stock, valued at $7,807,360.77. This represents a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Macquarie reiterated a “neutral” rating and set a $180.00 price target on shares of Vail Resorts in a research note on Wednesday, October 2nd. Morgan Stanley upped their target price on shares of Vail Resorts from $179.00 to $182.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. StockNews.com lowered Vail Resorts from a “hold” rating to a “sell” rating in a research note on Tuesday, November 12th. Stifel Nicolaus cut their target price on Vail Resorts from $223.00 to $216.00 and set a “buy” rating for the company in a research report on Friday, September 27th. Finally, Barclays decreased their price target on Vail Resorts from $161.00 to $155.00 and set an “underweight” rating on the stock in a research note on Friday, September 27th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $205.90.

Vail Resorts Price Performance

MTN opened at $179.24 on Monday. The company has a fifty day moving average price of $175.40 and a two-hundred day moving average price of $179.33. The firm has a market capitalization of $6.72 billion, a PE ratio of 29.72, a P/E/G ratio of 1.72 and a beta of 1.13. Vail Resorts, Inc. has a 52 week low of $165.00 and a 52 week high of $236.92. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.71 and a current ratio of 0.82.

Vail Resorts (NYSE:MTN) last announced its quarterly earnings results on Thursday, September 26th. The company reported ($4.67) earnings per share for the quarter, missing analysts’ consensus estimates of ($4.28) by ($0.39). Vail Resorts had a net margin of 7.99% and a return on equity of 20.76%. The firm had revenue of $265.39 million during the quarter, compared to analyst estimates of $264.84 million. During the same quarter in the prior year, the business earned ($3.35) earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. As a group, analysts anticipate that Vail Resorts, Inc. will post 7.27 earnings per share for the current year.

Vail Resorts Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Tuesday, October 8th were paid a dividend of $2.22 per share. The ex-dividend date was Tuesday, October 8th. This represents a $8.88 annualized dividend and a dividend yield of 4.95%. Vail Resorts’s dividend payout ratio is currently 147.26%.

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.