Vail Resorts, Inc. (NYSE:MTN) sees sharp decline in short-term interest

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Vail Resorts, Inc. (NYSE:MTN – Get Rating) saw a significant drop in short-term interest in the month of April. As of April 15, there was short interest totaling 754,600 shares, down 22.5% from the March 31 total of 973,300 shares. Currently, 1.9% of the company’s shares are sold short. Based on an average daily trading volume of 446,900 shares, the day-to-cover ratio is currently 1.7 days.

Several hedge funds and other institutional investors have recently changed their holdings of MTN. Camden Capital LLC bought a new position in shares of Vail Resorts in the fourth quarter for a value of approximately $958,000. Norges Bank bought a new position in Vail Resorts during the fourth quarter, valued at around $130,083,000. Ardevora Asset Management LLP bought a new position in Vail Resorts during the first quarter worth approximately $55,151,000. Lord Abbett & CO. LLC purchased a new position in Vail Resorts during the third quarter worth approximately $54,979,000. Finally, Candlestick Capital Management LP purchased a new position in Vail Resorts during the third quarter valued at approximately $54,305,000.

Several stock analysts have recently released reports on MTN shares. Stifel Nicolaus raised his price target on Vail Resorts shares from $262.00 to $274.00 and gave the company a “holding” rating in a Wednesday, March 23 research report. Deutsche Bank Aktiengesellschaft cut its price target on Vail Resorts shares from $305.00 to $303.00 and set a “hold” rating on the stock in a Tuesday, April 26 research report. StockNews.com began covering Vail Resorts shares in a research report on Thursday, March 31. They have placed a “holding” rating on the stock. JPMorgan Chase & Co. cut its price target on Vail Resorts shares from $345.00 to $314.00 and set a “neutral” rating on the stock in a Wednesday, January 19 research report. Finally, KeyCorp lowered its price target on Vail Resorts shares from $370.00 to $330.00 and set an “overweight” rating on the stock in a Tuesday, March 15 research note. Seven analysts gave the stock a hold rating and three gave the company a buy rating. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $328.25.

NYSE MTN shares opened at $260.97 on Thursday. The company’s 50-day moving average price is $255.50 and its 200-day moving average price is $295.74. The company has a market capitalization of $10.58 billion, a PE ratio of 49.61 and a beta of 1.19. Vail Resorts has a 52-week minimum of $221.38 and a 52-week maximum of $376.24. The company has a debt ratio of 1.50, a quick ratio of 1.44 and a current ratio of 1.53.

Vail Resorts (NYSE:MTN – Get Rating) last released its results on Monday, March 14. The company reported earnings per share (EPS) of $5.47 for the quarter, missing the consensus estimate of $5.72 per ($0.25). The company posted revenue of $906.54 million in the quarter, versus a consensus estimate of $954.87 million. Vail Resorts had a return on equity of 11.91% and a net margin of 10.02%. The company’s quarterly revenue increased 32.4% year over year. In the same quarter a year earlier, the company posted EPS of $3.62. On average, analysts expect Vail Resorts to post earnings per share of 8.39 for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 14. Shareholders of record on Wednesday, March 30 received a dividend of $1.91. This represents an annualized dividend of $7.64 and a dividend yield of 2.93%. The ex-dividend date was Tuesday, March 29. This is an increase from Vail Resorts’ previous quarterly dividend of $0.88. Vail Resorts’ dividend payout ratio is currently 145.25%.

Company Profile Vail Resorts (Get an evaluation)

Vail Resorts, Inc., through its subsidiaries, operates mountain resorts and urban ski areas in the United States. It operates through three segments: Mountain, Accommodation and Real Estate. The Mountain segment operates 37 destination mountain resorts and regional ski areas. This segment is also involved in ancillary businesses, including ski school, catering and retail/rental business, as well as real estate brokerage business.

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