Peak Resorts, Inc. to Issue Quarterly Dividend of $0.07 (SKIS)
Peak Resorts, Inc. (NASDAQ:SKIS) declared a quarterly dividend on Wednesday, October 4th, Wall Street Journal reports. Shareholders of record on Thursday, October 26th will be given a dividend of 0.07 per share on Friday, November 10th. This represents a $0.28 annualized dividend and a dividend yield of 6.51%. The ex-dividend date of this dividend is Wednesday, October 25th.
Shares of Peak Resorts (NASDAQ SKIS) traded up 2.38% during midday trading on Wednesday, hitting $4.30. 124,350 shares of the stock were exchanged. The firm’s 50-day moving average is $4.61 and its 200 day moving average is $4.93. Peak Resorts has a 52-week low of $3.90 and a 52-week high of $6.20. The firm’s market cap is $60.12 million.
Peak Resorts (NASDAQ:SKIS) last posted its earnings results on Wednesday, September 6th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). Peak Resorts had a negative net margin of 0.20% and a negative return on equity of 0.38%. The firm had revenue of $7.50 million for the quarter, compared to the consensus estimate of $7.22 million. During the same quarter in the prior year, the company posted ($0.56) earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. On average, analysts forecast that Peak Resorts will post $0.07 earnings per share for the current year.
In other news, major shareholder Cap 1 Llc acquired 17,180 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was acquired at an average price of $5.58 per share, with a total value of $95,864.40. Following the completion of the purchase, the insider now directly owns 1,742,705 shares in the company, valued at $9,724,293.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders acquired 803,753 shares of company stock valued at $4,165,497. 16.52% of the stock is owned by insiders.
A hedge fund recently raised its stake in Peak Resorts stock. Vanguard Group Inc. boosted its stake in shares of Peak Resorts, Inc. (NASDAQ:SKIS) by 63.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 419,553 shares of the company’s stock after buying an additional 162,100 shares during the period. Vanguard Group Inc. owned 3.00% of Peak Resorts worth $1,720,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 47.55% of the company’s stock.
A number of analysts have recently weighed in on the stock. FBR & Co restated a “buy” rating and issued a $6.00 target price on shares of Peak Resorts in a report on Thursday, September 7th. Zacks Investment Research lowered Peak Resorts from a “hold” rating to a “sell” rating in a research report on Wednesday, September 13th. Robert W. Baird reiterated a “buy” rating and issued a $6.00 price target on shares of Peak Resorts in a research report on Tuesday, September 19th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $7.00 price objective on shares of Peak Resorts in a research note on Thursday, September 7th. Finally, Macquarie downgraded Peak Resorts from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $5.00 in a research report on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $6.17.
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About Peak Resorts
Peak Resorts, Inc is a holding company. The Company, through its subsidiaries, owns or leases, and operates day ski and overnight drive ski resorts. The Company’s ski resort operations consist of snow skiing, snowboarding and snow sports areas in Wildwood and Weston, Missouri; Bellefontaine and Cleveland, Ohio; Paoli, Indiana; Blakeslee and Lake Harmony, Pennsylvania; Bartlett, Bennington and Pinkham Notch, New Hampshire; West Dover, Vermont, and Hunter, New York, and an 18 hole golf course in West Dover, Vermont.
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