Chicago Partners Investment Group LLC purchased a new stake in Travel + Leisure Co. (NYSE:TNL – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,161 shares of the company’s stock, valued at approximately $421,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Elequin Capital LP acquired a new position in shares of Travel + Leisure in the first quarter valued at about $30,000. Geneos Wealth Management Inc. raised its position in shares of Travel + Leisure by 293.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock valued at $44,000 after buying an additional 715 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of Travel + Leisure during the 1st quarter worth approximately $54,000. Rossby Financial LCC bought a new stake in shares of Travel + Leisure during the 1st quarter worth approximately $55,000. Finally, Parallel Advisors LLC lifted its holdings in shares of Travel + Leisure by 17.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,202 shares of the company’s stock worth $62,000 after acquiring an additional 182 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.
Travel + Leisure Trading Up 15.6%
TNL opened at $70.11 on Thursday. The company’s 50 day moving average is $61.28 and its 200-day moving average is $54.43. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $70.43. The company has a market cap of $4.55 billion, a P/E ratio of 12.09, a PEG ratio of 0.59 and a beta of 1.47.
Travel + Leisure (NYSE:TNL – Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.08. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company posted $1.57 EPS. On average, equities analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current year.
Travel + Leisure Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 12th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, September 12th. Travel + Leisure’s dividend payout ratio (DPR) is 38.62%.
Insider Activity at Travel + Leisure
In other Travel + Leisure news, insider Geoffrey Richards sold 124,454 shares of the firm’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $62.56, for a total transaction of $7,785,842.24. Following the completion of the transaction, the insider owned 118,718 shares in the company, valued at approximately $7,426,998.08. This trade represents a 51.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Dean Brown purchased 1,500 shares of the stock in a transaction on Friday, August 1st. The shares were purchased at an average price of $58.39 per share, with a total value of $87,585.00. Following the acquisition, the insider owned 427,821 shares in the company, valued at approximately $24,980,468.19. The trade was a 0.35% increase in their position. The disclosure for this purchase can be found here. 3.75% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. JMP Securities upped their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a “market outperform” rating in a report on Thursday, July 24th. Wall Street Zen downgraded shares of Travel + Leisure from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Morgan Stanley set a $68.00 price target on shares of Travel + Leisure in a report on Wednesday. Mizuho set a $86.00 price target on shares of Travel + Leisure in a report on Wednesday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Travel + Leisure in a research note on Wednesday, October 8th. Nine investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.30.
View Our Latest Stock Analysis on TNL
About Travel + Leisure
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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