Gotham Asset Management LLC grew its holdings in Travel + Leisure Co. (NYSE:TNL – Free Report) by 27.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 37,383 shares of the company’s stock after acquiring an additional 8,040 shares during the quarter. Gotham Asset Management LLC owned about 0.05% of Travel + Leisure worth $1,886,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the business. Smartleaf Asset Management LLC increased its holdings in shares of Travel + Leisure by 30.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock valued at $39,000 after acquiring an additional 181 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Travel + Leisure by 1.0% in the 4th quarter. Cerity Partners LLC now owns 19,549 shares of the company’s stock valued at $986,000 after acquiring an additional 200 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of Travel + Leisure by 36.9% in the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock valued at $38,000 after acquiring an additional 204 shares during the last quarter. Capital Analysts LLC increased its holdings in shares of Travel + Leisure by 16.8% in the 4th quarter. Capital Analysts LLC now owns 1,576 shares of the company’s stock valued at $80,000 after acquiring an additional 227 shares during the last quarter. Finally, Hourglass Capital LLC grew its stake in Travel + Leisure by 0.6% during the 4th quarter. Hourglass Capital LLC now owns 36,230 shares of the company’s stock worth $1,828,000 after buying an additional 230 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on TNL shares. Bank of America upgraded Travel + Leisure from an “underperform” rating to a “buy” rating and raised their price target for the stock from $40.00 to $60.00 in a research note on Monday, January 27th. Tigress Financial raised their price target on Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 6th. The Goldman Sachs Group dropped their price target on Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Morgan Stanley dropped their price target on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, Barclays lowered their target price on Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating on the stock in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.20.
Read Our Latest Stock Analysis on TNL
Insider Activity
In other news, insider Michael Dean Brown acquired 2,000 shares of Travel + Leisure stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $46.66 per share, with a total value of $93,320.00. Following the completion of the acquisition, the insider now owns 408,706 shares in the company, valued at $19,070,221.96. This trade represents a 0.49% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total value of $296,524.80. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.75% of the company’s stock.
Travel + Leisure Price Performance
TNL opened at $51.12 on Friday. The business has a 50 day simple moving average of $45.35 and a 200-day simple moving average of $50.59. The stock has a market capitalization of $3.39 billion, a P/E ratio of 8.75, a P/E/G ratio of 0.67 and a beta of 1.41. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $58.95.
Travel + Leisure (NYSE:TNL – Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 EPS 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 45.75% and a net margin of 10.63%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. Research analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.
Travel + Leisure Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.56 dividend. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a dividend yield of 4.38%. The ex-dividend date was Monday, March 17th. Travel + Leisure’s dividend payout ratio (DPR) 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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