Travel + Leisure Co. $TNL Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 10.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,264 shares of the company’s stock after acquiring an additional 220 shares during the quarter. GAMMA Investing LLC’s holdings in Travel + Leisure were worth $117,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in shares of Travel + Leisure by 210.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 35,893 shares of the company’s stock valued at $1,666,000 after acquiring an additional 24,329 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Travel + Leisure by 8.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company’s stock valued at $46,039,000 after acquiring an additional 79,430 shares in the last quarter. Merit Financial Group LLC purchased a new stake in shares of Travel + Leisure in the first quarter valued at about $261,000. Cerity Partners LLC boosted 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 valued at $997,000 after acquiring an additional 1,980 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted 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 acquiring an additional 8,142 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Stock Up 1.0%

Travel + Leisure stock opened at $60.11 on Thursday. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $64.11. The firm has a fifty day moving average of $61.09 and a 200-day moving average of $52.95. The firm has a market capitalization of $3.90 billion, a P/E ratio of 10.36, a PEG ratio of 0.58 and a beta of 1.47.

Travel + Leisure (NYSE:TNL) last announced its earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $1.52 earnings per share. Travel + Leisure’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, research analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Friday, September 12th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, September 12th. Travel + Leisure’s dividend payout ratio (DPR) is 38.62%.

Analysts Set New Price Targets

A number of analysts recently commented on TNL shares. Mizuho raised shares of Travel + Leisure from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $63.00 to $72.00 in a report on Thursday, July 24th. Barclays boosted 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. JMP Securities boosted 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, Wall Street Zen raised shares of Travel + Leisure from a “hold” rating to a “buy” rating in a report on Saturday, September 20th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.30.

Insiders Place Their Bets

In other Travel + Leisure news, insider Jeffrey Myers sold 110,885 shares of the firm’s stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $62.33, for a total value of $6,911,462.05. Following the completion of the transaction, the insider directly owned 142,553 shares in the company, valued at $8,885,328.49. This trade represents a 43.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael Dean Brown bought 1,500 shares of the firm’s stock in a transaction on Friday, August 1st. The stock was purchased at an average price of $58.39 per share, with a total value of $87,585.00. Following the completion of the acquisition, the insider owned 427,821 shares of the company’s stock, valued at approximately $24,980,468.19. This trade represents a 0.35% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 320,174 shares of company stock worth $19,765,874. 3.75% of the stock is owned by company insiders.

Travel + Leisure 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.