Gabelli Funds LLC Sells 800 Shares of Travel + Leisure Co. (NYSE:TNL)

Gabelli Funds LLC reduced its holdings in shares of Travel + Leisure Co. (NYSE:TNLFree Report) by 7.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,200 shares of the company’s stock after selling 800 shares during the quarter. Gabelli Funds LLC’s holdings in Travel + Leisure were worth $399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new stake in Travel + Leisure in the 4th quarter valued at $34,967,000. AQR Capital Management LLC boosted its stake in Travel + Leisure by 34.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,737,814 shares of the company’s stock valued at $63,830,000 after purchasing an additional 447,938 shares during the period. Vanguard Group Inc. boosted its stake in Travel + Leisure by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 10,255,690 shares of the company’s stock valued at $376,691,000 after purchasing an additional 322,624 shares during the period. Hsbc Holdings PLC boosted its stake in Travel + Leisure by 747.6% in the 3rd quarter. Hsbc Holdings PLC now owns 159,662 shares of the company’s stock valued at $5,864,000 after purchasing an additional 140,826 shares during the period. Finally, Retirement Systems of Alabama boosted its stake in Travel + Leisure by 87.9% in the 4th quarter. Retirement Systems of Alabama now owns 281,799 shares of the company’s stock valued at $11,016,000 after purchasing an additional 131,796 shares during the period. 87.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on TNL. Barclays boosted their price target on Travel + Leisure from $44.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. Truist Financial upped their target price on Travel + Leisure from $59.00 to $65.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Mizuho initiated coverage on Travel + Leisure in a research report on Tuesday, March 26th. They set a “neutral” rating and a $55.00 target price for the company. Finally, JMP Securities initiated coverage on Travel + Leisure in a research report on Tuesday, February 13th. They set an “outperform” rating and a $50.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Travel + Leisure has an average rating of “Moderate Buy” and a consensus target price of $54.83.

Read Our Latest Report on TNL

Travel + Leisure Stock Up 1.1 %

Shares of TNL stock opened at $44.47 on Tuesday. Travel + Leisure Co. has a twelve month low of $32.10 and a twelve month high of $49.02. The company has a market cap of $3.17 billion, a P/E ratio of 8.19, a P/E/G ratio of 2.46 and a beta of 1.63. The business has a fifty day simple moving average of $44.97 and a 200 day simple moving average of $42.70.

Travel + Leisure (NYSE:TNLGet Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.12. Travel + Leisure had a negative return on equity of 44.34% and a net margin of 10.54%. The business had revenue of $916.00 million during the quarter, compared to the consensus estimate of $904.54 million. During the same period in the prior year, the company earned $0.89 EPS. Travel + Leisure’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Travel + Leisure Co. will post 5.53 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.00 dividend on an annualized basis and a yield of 4.50%. Travel + Leisure’s payout ratio is presently 36.83%.

Insiders Place Their Bets

In other Travel + Leisure news, Director George Herrera sold 2,969 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $45.33, for a total value of $134,584.77. Following the completion of the transaction, the director now owns 2,193 shares of the company’s stock, valued at approximately $99,408.69. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider James J. Savina sold 6,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $47.00, for a total value of $282,000.00. Following the completion of the sale, the insider now owns 26,442 shares of the company’s stock, valued at $1,242,774. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director George Herrera sold 2,969 shares of the stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $45.33, for a total value of $134,584.77. Following the completion of the sale, the director now directly owns 2,193 shares of the company’s stock, valued at approximately $99,408.69. The disclosure for this sale can be found here. Insiders own 4.02% of the company’s stock.

About Travel + Leisure

(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.

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Institutional Ownership by Quarter for Travel + Leisure (NYSE:TNL)

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