Sterneck Capital Management Lowers stake in Peak Resorts Inc (SKIS)

Peak Resorts Inc (SKIS) : Sterneck Capital Management reduced its stake in Peak Resorts Inc by 46.44% during the most recent quarter end. The investment management company now holds a total of 248,831 shares of Peak Resorts Inc which is valued at $1.1 Million after selling 215,789 shares in Peak Resorts Inc , the firm said in a disclosure report filed with the SEC on May 27, 2016.Peak Resorts Inc makes up approximately 0.77% of Sterneck Capital Management’s portfolio.

Other Hedge Funds, Including , Shellback Capital Lp sold out all of its stake in SKIS during the most recent quarter. The investment firm sold 467,467 shares of SKIS which is valued $1.5 Million. Walleye Trading sold out all of its stake in SKIS during the most recent quarter. The investment firm sold 5,400 shares of SKIS which is valued $17,010.Vanguard Group Inc boosted its stake in SKIS in the latest quarter, The investment management firm added 47,232 additional shares and now holds a total of 180,315 shares of Peak Resorts Inc which is valued at $557,173.

Peak Resorts Inc opened for trading at $4.54 and hit $4.69 on the upside on Tuesday, eventually ending the session at $4.52, with a gain of 0.44% or 0.02 points. The heightened volatility saw the trading volume jump to 27,972 shares. Company has a market cap of $63 M.

On the company’s financial health, Peak Resorts Inc reported $0.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.14 based on the information available during the earnings call on Mar 15, 2016. Analyst had a consensus of $0.40. The company had revenue of $36.70 million for the quarter, compared to analysts expectations of $44.71 million. The company’s revenue was down -20.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.

Many Wall Street Analysts have commented on Peak Resorts Inc. Peak Resorts Inc was Upgraded by Macquarie to ” Outperform” on May 26, 2016. Shares were Reiterated by FBR Capital on Mar 16, 2016 to “Outperform” and Lowered the Price Target to $ 4 from a previous price target of $8 .

Peak Resorts Inc. is a holding company. The Company through its subsidiaries owns or leases and operates day ski and overnight drive ski resorts in the United States. As of April 30 2015 the Company operated 13 ski resorts including five overnight drive ski resorts and eight day ski resorts located across six states including Wildwood and Weston Missouri; Bellefontaine and Cleveland Ohio; Paoli Indiana; Blakeslee and Lake Harmony Pennsylvania; Bartlett Bennington and Pinkham Notch New Hampshire and West Dover Vermont. The Company also has an 18 hole golf course in West Dover Vermont. In addition it manages hotels in Bartlett New Hampshire and West Dover Vermont and operates a restaurant in Lake Harmony Pennsylvania. The Company’s ski resorts include Hidden Valley Snow Creek Paoli Peaks Mad River Boston Mills Brandywine Crotched Mountain Jack Frost Big Boulder Attitash Mount Snow Wildcat Mountain and Alpine Valley.

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