Acadian Asset Management LLC lessened its holdings in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 9.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,890 shares of the company’s stock after selling 40,390 shares during the period. Acadian Asset Management LLC owned approximately 0.63% of Travel + Leisure worth $21,045,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of TNL. AQR Capital Management LLC lifted its stake in Travel + Leisure by 28.3% in the first quarter. AQR Capital Management LLC now owns 1,827,453 shares of the company’s stock valued at $83,241,000 after buying an additional 403,418 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Travel + Leisure by 3.3% during the first quarter. Northern Trust Corp now owns 1,071,318 shares of the company’s stock worth $49,591,000 after acquiring an additional 34,615 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Travel + Leisure by 8.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company’s stock valued at $46,039,000 after acquiring an additional 79,430 shares in the last quarter. LSV Asset Management boosted its stake in Travel + Leisure by 37.7% in the 1st quarter. LSV Asset Management now owns 956,109 shares of the company’s stock worth $44,258,000 after purchasing an additional 261,528 shares during the period. Finally, Nuveen LLC bought a new position in Travel + Leisure during the 1st quarter worth about $41,114,000. 87.54% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Travel + Leisure news, insider Amandine Robin-Caplan sold 1,538 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $65.08, for a total value of $100,093.04. Following the transaction, the insider directly owned 3,904 shares in the company, valued at $254,072.32. The trade was a 28.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Geoffrey Richards sold 1,100 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $65.00, for a total transaction of $71,500.00. Following the sale, the insider owned 111,677 shares of the company’s stock, valued at approximately $7,259,005. This represents a 0.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 126,144 shares of company stock worth $8,347,142 in the last quarter. Insiders own 3.75% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the company. Morgan Stanley set a $68.00 price target on Travel + Leisure in a report on Wednesday, October 22nd. Weiss Ratings restated a “buy (b)” rating on shares of Travel + Leisure in a research note on Wednesday, October 8th. The Goldman Sachs Group upped their price target on Travel + Leisure from $61.00 to $71.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Citigroup reiterated an “outperform” rating on shares of Travel + Leisure in a report on Thursday, October 23rd. Finally, Barclays increased their target price on shares of Travel + Leisure from $54.00 to $63.00 and gave the stock an “underweight” rating in a report on Thursday, October 23rd. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $69.90.
Get Our Latest Research Report on TNL
Travel + Leisure Price Performance
Shares of TNL opened at $64.40 on Tuesday. The company has a market cap of $4.14 billion, a PE ratio of 10.59, a price-to-earnings-growth ratio of 0.55 and a beta of 1.51. The firm has a 50-day moving average of $61.92 and a 200-day moving average of $56.74. Travel + Leisure Co. has a one year low of $37.77 and a one year high of $70.43.
Travel + Leisure (NYSE:TNL – Get Free Report) last issued its earnings results on Wednesday, October 22nd. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.08. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. Travel + Leisure’s revenue was up 5.1% on a year-over-year basis. During the same period last year, the business posted $1.57 EPS. Analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.
Travel + Leisure Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 12th will be issued a dividend of $0.56 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.5%. Travel + Leisure’s payout ratio is presently 36.84%.
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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