Cresset Asset Management LLC Increases Position in Travel + Leisure Co. $TNL

Cresset Asset Management LLC lifted its stake in Travel + Leisure Co. (NYSE:TNL) by 209.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,107 shares of the company’s stock after acquiring an additional 10,901 shares during the period. Cresset Asset Management LLC’s holdings in Travel + Leisure were worth $958,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TNL. Elo Mutual Pension Insurance Co bought a new stake in Travel + Leisure during the third quarter valued at about $1,563,000. Handelsbanken Fonder AB raised its holdings in Travel + Leisure by 32.4% in the third quarter. Handelsbanken Fonder AB now owns 22,500 shares of the company’s stock worth $1,339,000 after purchasing an additional 5,500 shares in the last quarter. Choreo LLC raised its holdings in Travel + Leisure by 20.3% in the third quarter. Choreo LLC now owns 6,869 shares of the company’s stock worth $409,000 after purchasing an additional 1,158 shares in the last quarter. Interchange Capital Partners LLC purchased a new stake in shares of Travel + Leisure during the third quarter valued at about $239,000. Finally, Rossby Financial LCC boosted its holdings in shares of Travel + Leisure by 13.1% in the 3rd quarter. Rossby Financial LCC now owns 1,408 shares of the company’s stock valued at $85,000 after buying an additional 163 shares in the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on TNL shares. Oppenheimer reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of Travel + Leisure in a research report on Wednesday, February 18th. Stifel Nicolaus set a $89.00 target price on shares of Travel + Leisure in a research note on Wednesday, February 18th. Morgan Stanley lifted their price target on shares of Travel + Leisure from $68.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. The Goldman Sachs Group upped their price target on Travel + Leisure from $71.00 to $81.00 and gave the stock a “neutral” rating in a research report on Thursday, February 19th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $90.00 price objective on shares of Travel + Leisure in a report on Friday, February 20th. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.90.

Insider Buying and Selling

In other Travel + Leisure news, insider Amandine Robin-Caplan sold 3,904 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $74.61, for a total transaction of $291,277.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Dean Brown sold 25,938 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $74.85, for a total transaction of $1,941,459.30. Following the sale, the insider owned 427,821 shares of the company’s stock, valued at approximately $32,022,401.85. The trade was a 5.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 96,702 shares of company stock worth $7,182,383. 3.75% of the stock is owned by insiders.

Travel + Leisure Price Performance

Shares of TNL stock opened at $71.18 on Wednesday. The business has a fifty day moving average of $72.77 and a 200 day moving average of $67.38. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $81.00. The firm has a market capitalization of $4.44 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 0.54 and a beta of 1.32.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $1.83 earnings per share for the quarter, meeting the consensus estimate of $1.83. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1 billion. Travel + Leisure had a negative return on equity of 47.77% and a net margin of 5.74%.The company’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.72 EPS. As a group, equities research analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.