Travel + Leisure Co. $TNL is Ranmore Fund Management Ltd's 4th Largest Position

Ranmore Fund Management Ltd grew its position in Travel + Leisure Co. (NYSE:TNL – Free Report) by 69.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 433,000 shares of the company’s stock after acquiring an additional 178,000 shares during the quarter. Travel + Leisure accounts for 8.9% of Ranmore Fund Management Ltd’s portfolio, making the stock its 4th biggest holding. Ranmore Fund Management Ltd owned approximately 0.67% of Travel + Leisure worth $22,347,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake 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 valued at $46,039,000 after purchasing an additional 79,430 shares during the period. Cerity Partners LLC raised its holdings in shares of Travel + Leisure by 10.1% in the first quarter. Cerity Partners LLC now owns 21,529 shares of the company’s stock worth $997,000 after buying an additional 1,980 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Travel + Leisure by 4.1% in the first quarter. Envestnet Asset Management Inc. now owns 208,929 shares of the company’s stock valued at $9,671,000 after purchasing an additional 8,142 shares during the period. HighTower Advisors LLC lifted its stake in Travel + Leisure by 314.4% during the 1st quarter. HighTower Advisors LLC now owns 41,369 shares of the company’s stock valued at $1,915,000 after acquiring an additional 31,387 shares during the period. Finally, Voya Investment Management LLC grew its position in Travel + Leisure by 362.0% during the 1st quarter. Voya Investment Management LLC now owns 175,221 shares of the company’s stock worth $8,111,000 after purchasing an additional 137,295 shares during the period. Institutional investors own 87.54% of the company’s stock.

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Insider Buying and Selling at Travel + Leisure

In other Travel + Leisure news, insider Geoffrey Richards sold 26,838 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $66.06, for a total transaction of $1,772,918.28. Following the completion of the transaction, the insider owned 112,777 shares in the company, valued at $7,450,048.62. This trade represents a 19.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Kimberly Marshall sold 16,500 shares of Travel + Leisure stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $65.00, for a total transaction of $1,072,500.00. Following the transaction, the insider directly owned 40,236 shares of the company’s stock, valued at $2,615,340. This represents a 29.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 126,144 shares of company stock worth $8,347,142 over the last quarter. Company insiders own 3.75% of the company’s stock.

Travel + Leisure Stock Performance

NYSE:TNL opened at $63.93 on Wednesday. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 10.51, a price-to-earnings-growth ratio of 0.55 and a beta of 1.51. The business’s 50-day simple moving average is $61.95 and its 200 day simple moving average is $56.87. Travel + Leisure Co. has a one year low of $37.77 and a one year high of $70.43.

Travel + Leisure (NYSE:TNL – Get Free Report) last posted its earnings results on Wednesday, October 22nd. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.08. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. Travel + Leisure’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.57 EPS. On average, equities research analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th will be given a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Friday, December 12th. Travel + Leisure’s payout ratio is currently 36.84%.

Analysts Set New Price Targets

Several equities research analysts recently commented on TNL shares. JMP Securities boosted their price target on shares of Travel + Leisure from $70.00 to $80.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. Morgan Stanley set a $68.00 price objective on shares of Travel + Leisure in a research report on Wednesday, October 22nd. Mizuho set a $86.00 price target on Travel + Leisure in a report on Wednesday, October 22nd. The Goldman Sachs Group raised their price objective on shares of Travel + Leisure from $61.00 to $71.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Finally, Wall Street Zen cut Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Travel + Leisure presently has an average rating of “Moderate Buy” and a consensus price target of $69.90.

Read Our Latest Research Report on TNL

Travel + Leisure Profile

(Free Report)

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.