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Mason Hawkins Adds Shares of Vail Resorts

November 02, 2012 | About:
Holly LaFon

Holly LaFon

257 followers
Mason Hawkins has increased his stake in Vail Resorts Inc. (MTN) by 0.67 percent, according to GuruFocus Real Time Picks. The Southeastern Asset Management founder and value investor added 24,000 shares in the transaction, which raised his total position size from 3,565,758 shares to 3,589,758 shares. It also boosted his ownership stake in the company to 10.1 percent.

Hawkins purchased the shares on Oct. 10, when the share price closed at $57.48. The stock is up 32% year to date and down 2% for the past five years.

Vail Resorts is a mountain luxury resort company that operates in three segments: mountain, lodging and real estate development. It owns six premier resorts in Colorado, two in California and Nevada, a portfolio of luxury hotels, three destination resorts in Grand Teton National Park, several golf courses and extensive real estate.

Vail Resorts reported revenue for the fourth quarter ended in July of $113.5 million, up year over year from $108.7 million. Its net loss was $53.8 million, almost flat from the previous year. Fourth quarter EBITDA improved due to an increase in summer guests. The 2011 to 2012 ski season was the most challenging winter for the ski industry in U.S. history.

For the full year ended in July, revenue declined year over year to $1.02 million from $1.17 million the previous year. Net income declined to $16.4 million from $34.3 million the previous year.

The company expects net income to be in a range of $50 million to $60 million in fiscal 2013, as it expects a return to more normal weather and a continuation of a challenging but stable economy.

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