Choreo LLC Invests $211,000 in Travel + Leisure Co. (NYSE:TNL)

Choreo LLC acquired a new stake in Travel + Leisure Co. (NYSE:TNL - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,553 shares of the company's stock, valued at approximately $211,000.

A number of other hedge funds have also recently modified their holdings of TNL. Allspring Global Investments Holdings LLC lifted its position 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. Merit Financial Group LLC purchased a new position in shares of Travel + Leisure in the first quarter valued at approximately $261,000. GAMMA Investing LLC lifted its position in shares of Travel + Leisure by 26.6% in the first quarter. GAMMA Investing LLC now owns 2,044 shares of the company's stock valued at $95,000 after acquiring an additional 429 shares in the last quarter. Cerity Partners LLC lifted its position 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, Crossmark Global Holdings Inc. lifted its position in shares of Travel + Leisure by 53.1% in the first quarter. Crossmark Global Holdings Inc. now owns 68,355 shares of the company's stock valued at $3,164,000 after acquiring an additional 23,700 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Stock Performance

Shares of NYSE TNL traded down $0.85 during trading on Friday, reaching $58.40. The stock had a trading volume of 798,445 shares, compared to its average volume of 777,308. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $63.31. The business's 50-day moving average price is $53.68 and its 200-day moving average price is $50.90. The company has a market cap of $3.79 billion, a P/E ratio of 10.07, a PEG ratio of 0.56 and a beta of 1.43.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%. The firm's quarterly revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $1.52 earnings per share. Analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Friday, June 13th. Travel + Leisure's payout ratio is presently 38.62%.

Wall Street Analysts Forecast Growth

TNL has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their price objective on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. JMP Securities lifted their price objective on Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Morgan Stanley reduced their price objective on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Mizuho upgraded Travel + Leisure from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $63.00 to $72.00 in a research report on Thursday, July 24th. Finally, Wall Street Zen raised Travel + Leisure from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.30.

Insiders Place Their Bets

In other news, insider Michael Dean Brown bought 1,500 shares of Travel + Leisure stock in a transaction dated Friday, August 1st. The stock was acquired at an average cost of $58.39 per share, with a total value of $87,585.00. Following 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Geoffrey Richards sold 124,454 shares of the business's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $62.56, for a total value of $7,785,842.24. Following the completion of the sale, the insider directly owned 118,718 shares of the company's stock, valued at $7,426,998.08. The trade was a 51.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 323,474 shares of company stock worth $19,908,918. Corporate insiders own 3.75% 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.