Algert Global LLC Has $5.58 Million Stock Holdings in Travel + Leisure Co. $TNL

Key Points

• Algert Global cut its Travel + Leisure stake by 47.9% in the second quarter, selling 67,110 shares and retaining 72,967 shares valued at approximately $5.58 million.
• Travel + Leisure reported quarterly EPS of $1.88, matching analyst estimates, while revenue rose 4.4% year over year to $1.06 billion. The company also declared a quarterly dividend of $0.60 per share, implying a 3.3% annual yield.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $87.82 versus the stock’s reported price of $71.79; however, insiders sold more than 115,000 shares worth about $8.5 million over the past 90 days.

Algert Global LLC trimmed its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 47.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,967 shares of the company's stock after selling 67,110 shares during the quarter. Algert Global LLC owned about 0.12% of Travel + Leisure worth $5,577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Travel + Leisure in the 2nd quarter valued at $543,957,000. Invesco Ltd. increased its position in Travel + Leisure by 4.2% during the 4th quarter. Invesco Ltd. now owns 3,632,657 shares of the company's stock worth $256,211,000 after buying an additional 146,484 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Travel + Leisure by 46.8% during the second quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company's stock worth $138,449,000 after buying an additional 855,151 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Travel + Leisure by 1.1% during the fourth quarter. LSV Asset Management now owns 1,612,657 shares of the company's stock worth $113,741,000 after buying an additional 17,377 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Travel + Leisure by 21.7% in the first quarter. Quantinno Capital Management LP now owns 1,305,515 shares of the company's stock valued at $90,329,000 after acquiring an additional 232,711 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Stock Performance

Shares of TNL stock opened at $71.79 on Friday. Travel + Leisure Co. has a fifty-two week low of $58.07 and a fifty-two week high of $81.00. The stock's fifty day moving average price is $74.95 and its two-hundred day moving average price is $72.16. The company has a market cap of $4.39 billion, a PE ratio of 19.61, a P/E/G ratio of 0.50 and a beta of 1.17.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, hitting the consensus estimate of $1.88. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.Travel + Leisure's revenue for the quarter was up 4.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.65 EPS. On average, equities analysts predict that Travel + Leisure Co. will post 7.7 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Wednesday, September 16th. Travel + Leisure's dividend payout ratio is currently 65.57%.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, CAO Thomas Michael Duncan sold 20,000 shares of the business's stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $74.16, for a total transaction of $1,483,200.00. Following the sale, the chief accounting officer owned 5,307 shares of the company's stock, valued at approximately $393,567.12. The trade was a 79.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kimberly Marshall sold 32,691 shares of the company's stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total transaction of $2,451,825.00. The disclosure for this sale is available in the SEC filing. Insiders sold 115,135 shares of company stock worth $8,505,899 in the last 90 days. 4.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on TNL. Barclays boosted their price objective on shares of Travel + Leisure from $74.00 to $77.00 and gave the company an "equal weight" rating in a report on Thursday, July 23rd. Citigroup reiterated a "market outperform" rating on shares of Travel + Leisure in a research report on Thursday, July 23rd. Wells Fargo & Company boosted their price target on Travel + Leisure from $87.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Weiss Ratings reissued a "buy (b-)" rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. Finally, Zacks Research lowered Travel + Leisure from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 19th. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Travel + Leisure presently has a consensus rating of "Moderate Buy" and an average price target of $87.82.

About Travel + Leisure

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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