Sanctuary Advisors LLC acquired a new position in shares of Travel + Leisure Co. (NYSE:TNL – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,168 shares of the company’s stock, valued at approximately $283,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Aristides Capital LLC acquired a new stake in shares of Travel + Leisure during the 2nd quarter worth about $257,000. Point72 Asset Management L.P. acquired a new stake in shares of Travel + Leisure during the second quarter worth approximately $7,480,000. Mackenzie Financial Corp raised its stake in shares of Travel + Leisure by 49.9% in the second quarter. Mackenzie Financial Corp now owns 9,932 shares of the company’s stock valued at $447,000 after acquiring an additional 3,307 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Travel + Leisure by 440.7% in the 2nd quarter. Millennium Management LLC now owns 614,141 shares of the company’s stock worth $27,624,000 after acquiring an additional 500,554 shares in the last quarter. Finally, Maverick Capital Ltd. grew its position in Travel + Leisure by 42.0% during the 2nd quarter. Maverick Capital Ltd. now owns 32,292 shares of the company’s stock worth $1,452,000 after acquiring an additional 9,558 shares during the last quarter. 87.54% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on TNL shares. Deutsche Bank Aktiengesellschaft cut their price objective on Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on Travel + Leisure from $53.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, July 19th. The Goldman Sachs Group began coverage on shares of Travel + Leisure in a report on Wednesday, September 18th. They set a “neutral” rating and a $44.00 price objective on the stock. Barclays downgraded shares of Travel + Leisure from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $46.00 to $40.00 in a research note on Thursday, September 26th. Finally, Truist Financial decreased their price target on shares of Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.33.
Travel + Leisure Trading Down 0.8 %
Shares of NYSE TNL opened at $46.95 on Friday. The firm has a market capitalization of $3.35 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 0.62 and a beta of 1.62. The firm’s 50-day moving average is $44.21 and its 200-day moving average is $44.64. Travel + Leisure Co. has a 1 year low of $32.10 and a 1 year high of $49.91.
Travel + Leisure (NYSE:TNL – Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $985.00 million during the quarter, compared to analyst estimates of $987.20 million. Travel + Leisure had a net margin of 11.35% and a negative return on equity of 46.63%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.33 EPS. As a group, equities research analysts anticipate that Travel + Leisure Co. will post 5.67 earnings per share for the current fiscal year.
Travel + Leisure Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.26%. The ex-dividend date was Friday, September 13th. Travel + Leisure’s payout ratio is 36.83%.
Insiders Place Their Bets
In other news, insider Amandine Robin-Caplan sold 3,246 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $41.84, for a total value of $135,812.64. Following the completion of the sale, the insider now directly owns 24,491 shares of the company’s stock, valued at $1,024,703.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director George Herrera sold 2,193 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total transaction of $93,158.64. Following the sale, the director now owns 6,352 shares of the company’s stock, valued at approximately $269,832.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Amandine Robin-Caplan sold 3,246 shares of Travel + Leisure stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $41.84, for a total value of $135,812.64. Following the transaction, the insider now owns 24,491 shares in the company, valued at approximately $1,024,703.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.02% of the company’s stock.
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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