Advisors Capital Management LLC acquired a new stake in Travel + Leisure Co. (NYSE:TNL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 190,715 shares of the company's stock, valued at approximately $14,576,000. Advisors Capital Management LLC owned 0.31% of Travel + Leisure as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in TNL. Danske Bank A S acquired a new stake in Travel + Leisure in the third quarter valued at $30,000. Elevation Wealth Partners LLC boosted its position in shares of Travel + Leisure by 413.3% during the 2nd quarter. Elevation Wealth Partners LLC now owns 462 shares of the company's stock worth $35,000 after acquiring an additional 372 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Travel + Leisure in the 4th quarter valued at about $43,000. Assetmark Inc. raised its position in shares of Travel + Leisure by 43.8% during the 1st quarter. Assetmark Inc. now owns 627 shares of the company's stock worth $43,000 after acquiring an additional 191 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Travel + Leisure by 293.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 959 shares of the company's stock worth $44,000 after acquiring an additional 715 shares in the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Wall Street Zen cut shares of Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Zacks Research raised Travel + Leisure from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Weiss Ratings reissued a "buy (b-)" rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. Susquehanna started coverage on Travel + Leisure in a research note on Tuesday. They set a "positive" rating and a $95.00 price target on the stock. Finally, Barclays lifted their price target on Travel + Leisure from $74.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $87.82.
Check Out Our Latest Stock Report on Travel + Leisure
Travel + Leisure Stock Down 3.3%
Shares of TNL stock opened at $70.59 on Friday. The stock has a market capitalization of $4.32 billion, a PE ratio of 19.29, a price-to-earnings-growth ratio of 0.50 and a beta of 1.17. Travel + Leisure Co. has a 52-week low of $57.86 and a 52-week high of $81.00. The stock's 50-day moving average price is $75.20 and its 200 day moving average price is $72.12.
Travel + Leisure (NYSE:TNL - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, meeting the consensus estimate of $1.88. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the business posted $1.65 EPS. The company's revenue was up 4.4% on a year-over-year basis. Analysts expect that Travel + Leisure Co. will post 7.66 earnings per share for the current fiscal year.
Travel + Leisure Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, September 16th. Travel + Leisure's dividend payout ratio is 65.57%.
Insider Activity
In other news, insider Kimberly Marshall sold 32,691 shares of the firm's stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total value of $2,451,825.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director George Herrera sold 500 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total value of $37,580.00. Following the completion of the sale, the director owned 1,353 shares in the company, valued at approximately $101,691.48. This trade represents a 26.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 95,135 shares of company stock valued at $7,022,699 in the last three months. 4.01% of the stock is currently owned by company insiders.
About Travel + Leisure
(
Free Report)
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.
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