Point72 Asset Management L.P. lessened its holdings in Travel + Leisure Co. (NYSE:TNL – Free Report) by 91.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,615 shares of the company’s stock after selling 149,864 shares during the period. Point72 Asset Management L.P.’s holdings in Travel + Leisure were worth $687,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in shares of Travel + Leisure in the 4th quarter valued at $25,000. MassMutual Private Wealth & Trust FSB increased its stake in Travel + Leisure by 314.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock worth $33,000 after buying an additional 503 shares during the period. Natixis purchased a new stake in Travel + Leisure during the 4th quarter worth $37,000. UMB Bank n.a. increased its stake in Travel + Leisure by 36.9% during the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock worth $38,000 after buying an additional 204 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Travel + Leisure by 30.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock worth $39,000 after buying an additional 181 shares during the period. Hedge funds and other institutional investors own 87.54% of the company’s stock.
Travel + Leisure Stock Performance
TNL opened at $47.88 on Friday. The company has a 50-day moving average of $45.45 and a 200-day moving average of $50.61. The company has a market capitalization of $3.18 billion, a P/E ratio of 8.20, a PEG ratio of 0.67 and a beta of 1.41. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $58.95.
Travel + Leisure (NYSE:TNL – Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.01. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The company had revenue of $934.00 million during the quarter, compared to the consensus estimate of $933.08 million. During the same quarter in the previous year, the firm earned $0.97 EPS. The company’s revenue was up 2.0% on a year-over-year basis. As a group, sell-side 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Friday, June 13th. Travel + Leisure’s dividend payout ratio is presently 37.40%.
Insider Activity at Travel + Leisure
In other Travel + Leisure news, insider Michael Dean Brown acquired 2,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $46.66 per share, with a total value of $93,320.00. Following the transaction, the insider now directly owns 408,706 shares in the company, valued at approximately $19,070,221.96. This represents a 0.49% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Herrera sold 6,336 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the sale, the director now directly owns 2,759 shares of the company’s stock, valued at approximately $129,121.20. This represents a 69.66% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.75% of the company’s stock.
Analysts Set New Price Targets
TNL has been the topic of several analyst reports. Truist Financial lifted their price target on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Morgan Stanley dropped their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group dropped their price target on shares of Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Bank of America raised shares of Travel + Leisure from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $40.00 to $60.00 in a research note on Monday, January 27th. Finally, Mizuho reaffirmed a “neutral” rating and set a $64.00 price target (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $59.20.
View Our Latest Research Report on TNL
Travel + Leisure 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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