Acadian Asset Management LLC Grows Stock Position in Travel + Leisure Co. $TNL

Key Points

• Acadian Asset Management LLC increased its stake in Travel + Leisure Co. by 16.9%, owning approximately 0.67% of the company valued at $20.74 million after obtaining an additional 64,762 shares in the first quarter.
• Travel + Leisure has received multiple upgrades from analysts, with Mizuho raising its target price from $63 to $72, while JMP Securities increased it from $60 to $70, signaling positive growth expectations.
• The company will pay a quarterly dividend of $0.56 per share on September 30th, which represents an annual yield of 3.5% and reflects a payout ratio of 38.62%.

Acadian Asset Management LLC lifted its stake in Travel + Leisure Co. (NYSE:TNL - Free Report) by 16.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 448,280 shares of the company's stock after purchasing an additional 64,762 shares during the period. Acadian Asset Management LLC owned about 0.67% of Travel + Leisure worth $20,741,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in Travel + Leisure by 210.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,893 shares of the company's stock worth $1,666,000 after buying an additional 24,329 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Travel + Leisure by 8.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company's stock worth $46,039,000 after buying an additional 79,430 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Travel + Leisure during the 1st quarter worth about $261,000. GAMMA Investing LLC lifted its holdings in Travel + Leisure by 26.6% during the 1st quarter. GAMMA Investing LLC now owns 2,044 shares of the company's stock worth $95,000 after buying an additional 429 shares during the last quarter. Finally, Cerity Partners LLC lifted its holdings in Travel + Leisure by 10.1% during the 1st quarter. Cerity Partners LLC now owns 21,529 shares of the company's stock worth $997,000 after buying an additional 1,980 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TNL has been the subject of several research reports. Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $63.00 to $72.00 in a report on Thursday, July 24th. JMP Securities boosted their target price on Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a report on Thursday, July 24th. Wall Street Zen downgraded Travel + Leisure from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. Finally, Barclays boosted their target price on Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a report on Thursday, July 24th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $62.30.

Travel + Leisure Stock Up 2.7%

Shares of TNL stock opened at $63.19 on Friday. The stock has a market capitalization of $4.10 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 0.60 and a beta of 1.44. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $64.11. The stock's 50-day moving average price is $60.10 and its 200 day moving average price is $52.16.

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

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be given a dividend of $0.56 per share. The ex-dividend date is Friday, September 12th. This represents a $2.24 annualized dividend and a yield of 3.5%. Travel + Leisure's payout ratio is presently 38.62%.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, insider Kimberly Marshall sold 16,500 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $60.00, for a total transaction of $990,000.00. Following the transaction, the insider owned 56,736 shares in the company, valued at approximately $3,404,160. The trade was a 22.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Myers sold 110,885 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.33, for a total value of $6,911,462.05. Following the completion of the sale, the insider owned 142,553 shares in the company, valued at approximately $8,885,328.49. This represents a 43.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 320,174 shares of company stock worth $19,765,874 in the last three months. 3.75% of the stock is currently owned by corporate insiders.

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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