Walleye Capital LLC lifted its stake in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) by 59.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,527 shares of the company’s stock after acquiring an additional 19,881 shares during the period. Walleye Capital LLC owned 0.08% of Travel + Leisure worth $2,478,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its holdings in shares of Travel + Leisure by 210.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 35,893 shares of the company’s stock valued at $1,666,000 after purchasing an additional 24,329 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Travel + Leisure by 8.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company’s stock worth $46,039,000 after buying an additional 79,430 shares during the period. Merit Financial Group LLC acquired a new position in Travel + Leisure during the 1st quarter worth approximately $261,000. GAMMA Investing LLC raised its stake in Travel + Leisure by 26.6% during the 1st quarter. GAMMA Investing LLC now owns 2,044 shares of the company’s stock worth $95,000 after buying an additional 429 shares during the period. Finally, Cerity Partners LLC raised its stake in Travel + Leisure by 10.1% during the 1st 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 period. Institutional investors and hedge funds own 87.54% of the company’s stock.
Insider Transactions at Travel + Leisure
In related news, CAO Thomas Michael Duncan sold 8,201 shares of the stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.24, for a total transaction of $510,430.24. Following the completion of the sale, the chief accounting officer directly owned 20,000 shares of the company’s stock, valued at approximately $1,244,800. This trade represents a 29.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Dean Brown purchased 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $58.39 per share, with a total value of $87,585.00. Following the completion of the transaction, the insider directly owned 427,821 shares of the company’s stock, valued at $24,980,468.19. The trade was a 0.35% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 320,174 shares of company stock worth $19,765,874. Company insiders own 3.75% of the company’s stock.
Analyst Upgrades and Downgrades
TNL has been the topic of a number of research reports. Wall Street Zen lowered Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, August 23rd. Mizuho upgraded shares of Travel + Leisure from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $63.00 to $72.00 in a report on Thursday, July 24th. JMP Securities upped 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. Finally, Barclays upped their price objective on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an “underweight” rating in a report on Thursday, July 24th. Eight equities research 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $62.30.
View Our Latest Report on Travel + Leisure
Travel + Leisure Trading Up 0.9%
NYSE TNL opened at $62.75 on Friday. The business has a fifty day simple moving average of $57.97 and a 200 day simple moving average of $51.72. The firm has a market capitalization of $4.07 billion, a P/E ratio of 10.82, a PEG ratio of 0.60 and a beta of 1.43. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $63.31.
Travel + Leisure (NYSE:TNL – Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.65 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.52 EPS. As a group, sell-side analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.
Travel + Leisure Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be paid a $0.56 dividend. The ex-dividend date is Friday, September 12th. This represents a $2.24 annualized dividend and a yield of 3.6%. Travel + Leisure’s dividend payout ratio (DPR) is 38.62%.
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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