Should You Invest in Vail Resorts (MTN)?

Baron Funds, an investment management company, released its “Baron Real Estate Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 4.86% (Institutional Shares) compared to a 4.99% decline for its primary benchmark, the MSCI USA IMI Extended Real Estate Index. At the same time, the fund outperformed the MSCI US REIT Index, which fell 10.28% in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds highlighted stocks like Vail Resorts, Inc. (NYSE:MTN) in the Q3 2022 investor letter. Headquartered in Broomfield, Colorado, Vail Resorts, Inc. (NYSE:MTN) is a US-based mountain resorts and regional ski area operator. On November 21, 2022, Vail Resorts, Inc. (NYSE:MTN) stock closed at $249.45 per share. One-month return of Vail Resorts, Inc. (NYSE:MTN) was 13.85%, and its shares lost 27.31% of their value over the last 52 weeks. Vail Resorts, Inc. (NYSE:MTN) has a market capitalization of $10.059 billion.

Baron Funds made the following comment about Vail Resorts, Inc. (NYSE:MTN) in its Q3 2022 investor letter:

Vail Resorts, Inc. (NYSE:MTN) owns and operates a premier portfolio of mountain resorts including marquee resorts such as Vail, Beaver Creek, Breckinridge, Park City, Whistler Blackcomb, and Keystone. Vail’s shares have declined 43% from a peak of $376 in November 2021 to a recent price of only $215 and are currently valued at only 11 times cash flow versus its long-term average multiple of approximately 15 times cash flow.”

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Vail Resorts, Inc. (NYSE:MTN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held Vail Resorts, Inc. (NYSE:MTN) at the end of the third quarter, which was 42 in the previous quarter.

We discussed Vail Resorts, Inc. (NYSE:MTN) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 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.