Pallas Capital Advisors LLC bought a new stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,124 shares of the company’s stock, valued at approximately $522,000.
A number of other institutional investors also recently bought and sold shares of the company. Elequin Capital LP acquired a new stake in shares of Travel + Leisure during the 1st quarter worth approximately $30,000. Geneos Wealth Management Inc. grew its stake in shares of Travel + Leisure by 293.0% during the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock worth $44,000 after buying an additional 715 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of 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 during the period. N.E.W. Advisory Services LLC purchased a new stake in shares of Travel + Leisure during the 1st quarter valued at approximately $54,000. Finally, Parallel Advisors LLC grew 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 valued at $62,000 after purchasing an additional 182 shares during the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have recently issued reports on TNL. Wall Street Zen raised Travel + Leisure from a “hold” rating to a “buy” rating in a research report on Saturday. Mizuho raised Travel + Leisure from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $63.00 to $72.00 in a research report on Thursday, July 24th. Barclays upped their price target on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an “underweight” rating in a research note on Thursday, July 24th. Finally, JMP Securities raised their price objective 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. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Travel + Leisure currently has an average rating of “Moderate Buy” and an average target price of $62.30.
Read Our Latest Stock Analysis on TNL
Travel + Leisure Stock Down 0.8%
TNL opened at $61.00 on Friday. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $64.11. The firm has a market capitalization of $3.96 billion, a P/E ratio of 10.52, a PEG ratio of 0.59 and a beta of 1.44. The stock has a fifty day moving average of $60.67 and a 200-day moving average of $52.39.
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its earnings results 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 company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company posted $1.52 earnings per share. Travel + Leisure’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.
Travel + Leisure Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be given a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, September 12th. Travel + Leisure’s dividend payout ratio is 38.62%.
Insider Transactions at Travel + Leisure
In related news, insider Jeffrey Myers sold 110,885 shares of the firm’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 transaction, the insider owned 142,553 shares of the company’s stock, valued at $8,885,328.49. This trade represents a 43.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $7,785,842.24. Following the completion of the sale, the insider directly owned 118,718 shares in the company, valued at $7,426,998.08. This trade represents a 51.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 320,174 shares of company stock valued at $19,765,874 over the last quarter. Insiders own 3.75% of the company’s stock.
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.
Featured Articles
Want to see what other hedge funds are holding TNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Travel + Leisure Co. (NYSE:TNL – Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Travel + Leisure, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Travel + Leisure wasn’t on the list.
While Travel + Leisure currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
Nuclear energy stocks are roaring. It’s the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
