Is Vail Resorts (MTN) Trading at an Attractive Valuation?
The London Company, an investment management company, released “The London Company SMID Cap Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 5.0% (-5.1% net) compared to a 4.8% fall in the Russell 2500 Index. A lack of exposure to the Energy sector drove the portfolio's underperformance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company SMID Cap Strategy highlighted stocks like Vail Resorts, Inc. (NYSE:MTN) in the Q3 2023 investor letter. Headquartered in Broomfield, Colorado, Vail Resorts, Inc. (NYSE:MTN) is a mountain resorts and ski areas operator. On November 2, 2023, Vail Resorts, Inc. (NYSE:MTN) stock closed at $218.23 per share. One-month return of Vail Resorts, Inc. (NYSE:MTN) was 2.37%, and its shares gained 1.24% of their value over the last 52 weeks. Vail Resorts, Inc. (NYSE:MTN) has a market capitalization of $8.313 billion.
The London Company SMID Cap Strategy made the following comment about Vail Resorts, Inc. (NYSE:MTN) in its Q3 2023 investor letter:
"Initiated: Vail Resorts, Inc. (NYSE:MTN) – MTN owns 41 ski resorts and regional ski hills across North America, Australia & Europe. MTN has aggregated quality assets in a supply-constrained industry. Its scale and diverse portfolio offers a competitive advantage. Its season pass program, Epic Pass, promotes customer loyalty and generates recurring revenue. We believe MTN’s growth outlook is favorable and aligns with trends favoring outdoor and experience-based tourism. MTN has a solid balance sheet and trades at an attractive valuation coming out of a disappointing ski season."
Vail Resorts, Inc. (NYSE:MTN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Vail Resorts, Inc. (NYSE:MTN) at the end of second quarter which was 37 in the previous quarter.
We discussed Vail Resorts, Inc. (NYSE:MTN) in another article and shared the list of casino stocks that pay dividends. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
