CenterBook Partners LP purchased a new position in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,870 shares of the company’s stock, valued at approximately $225,000.
Several other hedge funds also recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in shares of Travel + Leisure by 4.8% during the fourth quarter. Invesco Ltd. now owns 3,544,548 shares of the company’s stock worth $178,822,000 after buying an additional 163,804 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Travel + Leisure by 4.3% during the fourth quarter. AQR Capital Management LLC now owns 1,424,035 shares of the company’s stock worth $71,358,000 after buying an additional 58,944 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Travel + Leisure by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,036,703 shares of the company’s stock worth $52,302,000 after buying an additional 90,553 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Travel + Leisure by 8.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company’s stock worth $46,039,000 after buying an additional 79,430 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of Travel + Leisure by 37.7% during the first quarter. LSV Asset Management now owns 956,109 shares of the company’s stock worth $44,258,000 after buying an additional 261,528 shares in the last quarter. 87.54% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other news, Director Denny Marie Post sold 5,500 shares of the business’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $50.20, for a total value of $276,100.00. Following the completion of the transaction, the director directly owned 4,477 shares of the company’s stock, valued at approximately $224,745.40. The trade was a 55.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey Myers sold 13,922 shares of the business’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $58.00, for a total value of $807,476.00. Following the sale, the insider owned 165,890 shares in the company, valued at approximately $9,621,620. The trade was a 7.74% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,285 shares of company stock valued at $1,474,767. 3.75% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
TNL has been the topic of several analyst reports. Barclays reduced their target price on Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group reduced their target price on Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Finally, Morgan Stanley reduced their target price on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and an average price target of $59.20.
Read Our Latest Stock Report on TNL
Travel + Leisure Price Performance
Shares of NYSE:TNL traded up $0.58 during trading on Friday, hitting $57.17. 705,903 shares of the company’s stock were exchanged, compared to its average volume of 649,005. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $58.95. The business’s 50-day simple moving average is $51.53 and its 200 day simple moving average is $50.22. The company has a market cap of $3.80 billion, a price-to-earnings ratio of 9.54, a PEG ratio of 0.55 and a beta of 1.38.
Travel + Leisure (NYSE:TNL – Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.01. The business had revenue of $934.00 million during the quarter, compared to analysts’ expectations of $933.08 million. Travel + Leisure had a negative return on equity of 46.83% and a net margin of 10.77%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 EPS. On average, sell-side analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.
Travel + Leisure Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend was Friday, June 13th. Travel + Leisure’s dividend payout ratio is currently 37.40%.
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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