Arrowstreet Capital Limited Partnership Cuts Stake in Travel + Leisure Co. $TNL

Arrowstreet Capital Limited Partnership lessened its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 4.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 633,486 shares of the company’s stock after selling 29,015 shares during the period. Arrowstreet Capital Limited Partnership owned 1.01% of Travel + Leisure worth $43,831,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of TNL. Inceptionr LLC purchased a new stake in Travel + Leisure during the 1st quarter worth approximately $454,000. Sei Investments Co. lifted its position in shares of Travel + Leisure by 39.7% in the first quarter. Sei Investments Co. now owns 389,506 shares of the company’s stock valued at $26,951,000 after acquiring an additional 110,747 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Travel + Leisure by 3.7% in the first quarter. Cetera Investment Advisers now owns 25,974 shares of the company’s stock valued at $1,797,000 after acquiring an additional 918 shares in the last quarter. Earned Wealth Advisors LLC acquired a new stake in shares of Travel + Leisure in the first quarter worth approximately $209,000. Finally, Dorsey Wright & Associates increased its position in shares of Travel + Leisure by 280.3% during the first quarter. Dorsey Wright & Associates now owns 21,116 shares of the company’s stock worth $1,461,000 after purchasing an additional 15,564 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on TNL shares. Barclays raised their price objective on Travel + Leisure from $74.00 to $77.00 and gave the company an “equal weight” rating in a report on Thursday. The Goldman Sachs Group raised shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Monday, June 1st. Wall Street Zen lowered shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Mizuho upped their price objective on shares of Travel + Leisure from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, Morgan Stanley increased their price objective on shares of Travel + Leisure from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $86.90.

Insider Buying and Selling

In other news, Director Denny Marie Post sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $63.83, for a total transaction of $159,575.00. Following the completion of the sale, the director owned 1,977 shares in the company, valued at $126,191.91. This trade represents a 55.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George Herrera sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $37,580.00. Following the sale, the director owned 1,353 shares of the company’s stock, valued at $101,691.48. This represents a 26.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 31,000 shares of company stock worth $2,161,915. Insiders own 4.01% of the company’s stock.

Travel + Leisure Stock Performance

NYSE TNL opened at $76.28 on Tuesday. The stock’s fifty day moving average is $72.81 and its two-hundred day moving average is $71.70. The firm has a market capitalization of $4.67 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 0.56 and a beta of 1.16. Travel + Leisure Co. has a fifty-two week low of $56.66 and a fifty-two week high of $81.00.

Travel + Leisure (NYSE:TNL) last issued its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.88. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company earned $1.65 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. As a group, sell-side analysts forecast that Travel + Leisure Co. will post 7.58 EPS for the current year.

Travel + Leisure Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.1%. The ex-dividend date was Friday, June 12th. Travel + Leisure’s dividend payout ratio (DPR) is presently 65.57%.

Travel + Leisure Company 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.