Algert Global LLC Sells 119,011 Shares of Travel + Leisure Co. $TNL

Key Points

• Algert Global LLC has reduced its holdings in Travel + Leisure Co. (NYSE:TNL) by 33.2%, selling 119,011 shares and now owning approximately 0.36% of the company, valued at $11.1 million.
• Analysts have mixed views on TNL, with Morgan Stanley lowering its price target from $61 to $52, while other firms like Mizuho and JMP Securities have given higher target prices and ratings reflecting bullish sentiment.
• Travel + Leisure announced a quarterly dividend of $0.56 per share, yielding 3.7%, with payment scheduled for September 30th to shareholders of record on September 12th.

Algert Global LLC trimmed its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 33.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 239,948 shares of the company's stock after selling 119,011 shares during the quarter. Algert Global LLC owned 0.36% of Travel + Leisure worth $11,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Natixis acquired a new stake in Travel + Leisure during the fourth quarter valued at approximately $37,000. UMB Bank n.a. boosted its holdings in Travel + Leisure by 54.0% during the first quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock valued at $54,000 after purchasing an additional 409 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Travel + Leisure in the 1st quarter worth approximately $54,000. Rossby Financial LCC acquired a new position in shares of Travel + Leisure in the 1st quarter worth approximately $55,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Travel + Leisure by 333.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company's stock worth $66,000 after acquiring an additional 1,000 shares in the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Travel + Leisure

In related news, Director George Herrera sold 2,200 shares of the company's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $60.48, for a total value of $133,056.00. Following the completion of the transaction, the director directly owned 559 shares of the company's stock, valued at approximately $33,808.32. This represents a 79.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Myers sold 110,885 shares of the company's stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the completion of the transaction, the insider directly owned 142,553 shares of the company's stock, valued at approximately $8,885,328.49. The trade was a 43.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 320,174 shares of company stock worth $19,765,874. Company insiders own 3.75% of the company's stock.

Travel + Leisure Trading Up 5.1%

Shares of TNL stock traded up $3.0050 on Friday, hitting $62.2650. The stock had a trading volume of 245,624 shares, compared to its average volume of 694,468. Travel + Leisure Co. has a twelve month low of $37.77 and a twelve month high of $63.31. The firm has a market cap of $4.04 billion, a P/E ratio of 10.74, a PEG ratio of 0.56 and a beta of 1.43. The company has a fifty day moving average price of $56.62 and a two-hundred day moving average price of $51.50.

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 the consensus estimate of $1.66 by ($0.01). Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm earned $1.52 EPS. Travel + Leisure's quarterly revenue was up 3.4% on a year-over-year basis. On average, analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a yield of 3.6%. Travel + Leisure's dividend payout ratio is presently 38.62%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TNL shares. JMP Securities boosted their target price on Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. Wall Street Zen raised Travel + Leisure from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Barclays boosted their target price on Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a report on Thursday, July 24th. Finally, Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $63.00 to $72.00 in a research report on Thursday, July 24th. Eight investment 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, the company currently has an average rating of "Moderate Buy" and an average target price of $62.30.

Travel + Leisure 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.