Paloma Partners Management Co Sells 1,186,145 Shares of Vail Resorts, Inc. (NYSE:MTN)

Paloma Partners Management Co reduced its stake in Vail Resorts, Inc. (NYSE:MTN - Free Report) by 99.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,532 shares of the company's stock after selling 1,186,145 shares during the period. Paloma Partners Management Co's holdings in Vail Resorts were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MTN. Commonwealth Equity Services LLC boosted its position in Vail Resorts by 507.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 11,380 shares of the company's stock worth $2,050,000 after buying an additional 9,506 shares during the period. OFI Invest Asset Management bought a new position in Vail Resorts during the 2nd quarter worth approximately $1,486,000. AQR Capital Management LLC raised its holdings in Vail Resorts by 1,063.7% during the 2nd quarter. AQR Capital Management LLC now owns 177,033 shares of the company's stock worth $31,767,000 after purchasing an additional 161,820 shares during the last quarter. River Road Asset Management LLC raised its holdings in Vail Resorts by 606.6% during the 3rd quarter. River Road Asset Management LLC now owns 341,311 shares of the company's stock worth $59,487,000 after purchasing an additional 293,006 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Vail Resorts during the 3rd quarter worth approximately $12,577,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Vail Resorts Price Performance

Shares of NYSE MTN traded down $1.06 during mid-day trading on Friday, reaching $190.13. 261,503 shares of the company were exchanged, compared to its average volume of 527,303. The company's 50 day moving average price is $175.30 and its 200 day moving average price is $178.99. The stock has a market capitalization of $7.13 billion, a PE ratio of 31.85, a PEG ratio of 1.74 and a beta of 1.14. Vail Resorts, Inc. has a 52 week low of $165.00 and a 52 week high of $236.92. The company has a quick ratio of 0.71, a current ratio of 0.82 and a debt-to-equity ratio of 2.62.

Vail Resorts (NYSE:MTN - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $265.39 million for the quarter, compared to analysts' expectations of $264.84 million. Vail Resorts had a net margin of 7.99% and a return on equity of 20.76%. The business's revenue for the quarter was down 1.6% compared to the same quarter last year. During the same period last year, the company posted ($3.35) EPS. Sell-side analysts forecast that Vail Resorts, Inc. will post 7.24 earnings per share for the current fiscal year.

Vail Resorts Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 24th. Stockholders of record on Tuesday, October 8th were paid a $2.22 dividend. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $8.88 dividend on an annualized basis and a dividend yield of 4.67%. Vail Resorts's dividend payout ratio (DPR) is currently 147.26%.

Analysts Set New Price Targets

MTN has been the subject of several analyst reports. Stifel Nicolaus lowered their price target on shares of Vail Resorts from $223.00 to $216.00 and set a "buy" rating for the company in a report on Friday, September 27th. Morgan Stanley lifted their price objective 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 upgraded shares of Vail Resorts from a "sell" rating to a "hold" rating in a research note on Monday. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Vail Resorts from $218.00 to $194.00 and set a "hold" rating on the stock in a report on Monday, September 16th. Finally, Macquarie reaffirmed a "neutral" rating and set a $180.00 price objective on shares of Vail Resorts in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $205.90.

Insiders Place Their Bets

In other news, insider Robert A. Katz sold 9,296 shares of the company's stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $175.98, for a total value of $1,635,910.08. Following the completion of the transaction, the insider now owns 245,961 shares of the company's stock, valued at $43,284,216.78. This represents a 3.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction, the director now directly owns 45,111 shares of the company's stock, valued at $7,807,360.77. The trade was a 3.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.20% of the company's stock.

About Vail Resorts

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.