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Diamond Hill: “Vail Resorts (MTN) had a Difficult 2021-2022 Ski Season”

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Diamond Hill Capital, an investment management firm, published its “Diamond Hill Small Cap Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. Diamond Hill invests on behalf of clients through a shared commitment to its valuation-driven investment principles, long-term perspective, capacity discipline, and client alignment. Amid a rocky market environment, the portfolio’s negative returns still outpaced the Russell 2000 Index by a healthy margin in Q1.  Try to take some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Diamond Hill Small Cap Fund mentioned Vail Resorts, Inc. (NYSE:MTN) and explained its insights into the company. Founded in 1997, Vail Resorts, Inc. (NYSE:MTN) is a Broomfield, Colorado-based mountain resort company with an $8.5 billion market capitalization. Vail Resorts, Inc. (NYSE:MTN) delivered a -35.61% return since the beginning of the year, while its 12-month returns are down by -32.51%. The stock closed at $211.14 per share on July 12, 2022.

Here is what Diamond Hill Small Cap Fund has to say about Vail Resorts, Inc. (NYSE:MTN) in its Q1 2022 investor letter:

"Despite record pass sales, Vail Resorts had a difficult 2021-2022 ski season which is being reflected in share prices. Early season lack of snow led to difficulty opening terrain. Problems were compounded by challenges hiring seasonal labor meeting an abundance of skier demand. Disappointment in the consumer experience was well publicized on social media. Management has addressed these issues with a significant investment in personnel."

Lucky Business/Shutterstock.com

Our calculations show that Vail Resorts, Inc. (NYSE:MTN) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Vail Resorts, Inc. (NYSE:MTN) was in 47 hedge fund portfolios at the end of the first quarter of 2022, compared to 44 funds in the previous quarter. Vail Resorts, Inc. (NYSE:MTN) delivered a -14.48% return in the past 3 months.

In May 2022, we also shared another hedge fund’s views on Vail Resorts, Inc. (NYSE:MTN) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.