Algert Global LLC Decreases Position in Travel + Leisure Co. (NYSE: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 lessened its holdings in Travel + Leisure Co. (NYSE:TNL - Free Report) by 33.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 239,948 shares of the company's stock after selling 119,011 shares during the period. Algert Global LLC owned approximately 0.36% of Travel + Leisure worth $11,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TNL. Natixis acquired a new stake in shares of Travel + Leisure in the 4th quarter valued at $37,000. UMB Bank n.a. raised its holdings in shares of Travel + Leisure by 54.0% in the 1st 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 stake in shares of Travel + Leisure in the 1st quarter valued at $54,000. Rossby Financial LCC acquired a new stake in shares of Travel + Leisure in the 1st quarter valued at $55,000. Finally, Canada Pension Plan Investment Board raised 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 valued at $66,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Wall Street Analysts Forecast Growth

TNL has been the topic of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen upgraded shares of Travel + Leisure from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. JMP Securities raised their price objective on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a report on Thursday, July 24th. Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $63.00 to $72.00 in a report on Thursday, July 24th. Finally, Barclays lifted their price target on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Travel + Leisure has an average rating of "Moderate Buy" and a consensus target price of $62.30.

Travel + Leisure Price Performance

Shares of NYSE:TNL opened at $60.15 on Friday. The company's fifty day moving average price is $55.86 and its 200 day moving average price is $51.35. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $63.31. The firm has a market capitalization of $3.90 billion, a P/E ratio of 10.37, a P/E/G ratio of 0.58 and a beta of 1.43.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 EPS for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The business 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 company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.52 earnings per share. On average, sell-side analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be paid a $0.56 dividend. The ex-dividend date is Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a yield of 3.7%. Travel + Leisure's payout ratio is currently 38.62%.

Insider Buying and Selling

In other Travel + Leisure news, insider Jeffrey Myers sold 110,885 shares of Travel + Leisure stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $62.33, for a total value of $6,911,462.05. Following the transaction, the insider directly owned 142,553 shares in the company, valued at approximately $8,885,328.49. The trade was a 43.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George Herrera sold 2,200 shares of Travel + Leisure stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $60.48, for a total transaction of $133,056.00. Following the completion of the sale, the director directly owned 559 shares in the company, valued at approximately $33,808.32. The trade was a 79.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 320,174 shares of company stock valued at $19,765,874 in the last quarter. Corporate insiders own 3.75% of the company's stock.

About Travel + Leisure

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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