New Age Alpha Advisors LLC decreased its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 68.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,371 shares of the company’s stock after selling 38,168 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Travel + Leisure were worth $804,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Natixis purchased a new stake in Travel + Leisure during the fourth quarter valued at $37,000. UMB Bank n.a. raised its stake in Travel + Leisure by 54.0% during the first quarter. UMB Bank n.a. now owns 1,166 shares of the company’s stock valued at $54,000 after purchasing an additional 409 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new stake in Travel + Leisure during the first quarter valued at $54,000. Rossby Financial LCC purchased a new stake in Travel + Leisure during the first quarter valued at $55,000. Finally, Canada Pension Plan Investment Board increased its position in Travel + Leisure by 333.3% during the fourth quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company’s stock valued at $66,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on TNL. Morgan Stanley cut their price objective on shares of Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group cut their price objective on shares of Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Wall Street Zen upgraded shares of Travel + Leisure from a “hold” rating to a “buy” rating in a research report on Saturday, July 26th. Mizuho upgraded shares of Travel + Leisure from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $63.00 to $72.00 in a research report on Thursday, July 24th. Finally, JMP Securities boosted their price objective on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a “market outperform” rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Travel + Leisure currently has an average rating of “Moderate Buy” and a consensus target price of $62.30.
Get Our Latest Stock Analysis on TNL
Insider Buying and Selling
In other Travel + Leisure news, insider Michael Dean Brown acquired 1,500 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average cost of $58.39 per share, with a total value of $87,585.00. Following the completion of the purchase, the insider directly owned 427,821 shares in the company, valued at $24,980,468.19. The trade was a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Myers sold 110,885 shares of the company’s stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the completion of the sale, the insider directly owned 142,553 shares of the company’s stock, valued at approximately $8,885,328.49. This trade represents a 43.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 323,474 shares of company stock valued at $19,908,918 over the last quarter. 3.75% of the stock is owned by company insiders.
Travel + Leisure Trading Down 0.4%
NYSE TNL opened at $58.88 on Friday. The company’s 50-day moving average price is $54.75 and its 200-day moving average price is $51.15. The stock has a market cap of $3.82 billion, a PE ratio of 10.15, a PEG ratio of 0.57 and a beta of 1.43. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $63.31.
Travel + Leisure (NYSE:TNL – Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.01). Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the company earned $1.52 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current year.
Travel + Leisure Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.56 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.24 dividend on an annualized basis and a yield of 3.8%. Travel + Leisure’s dividend payout ratio is 38.62%.
Travel + Leisure Company Profile
Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.
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