Alyeska Investment Group L.P. acquired a new position in Travel + Leisure Co. (NYSE:TNL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 470,940 shares of the company's stock, valued at approximately $35,994,000. Alyeska Investment Group L.P. owned about 0.77% of Travel + Leisure as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Baron Wealth Management LLC boosted its position in shares of Travel + Leisure by 2.8% during the first quarter. Baron Wealth Management LLC now owns 4,953 shares of the company's stock worth $343,000 after buying an additional 133 shares during the period. Diversified Trust Co lifted its stake in Travel + Leisure by 0.7% during the 1st quarter. Diversified Trust Co now owns 19,393 shares of the company's stock worth $1,342,000 after acquiring an additional 137 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Travel + Leisure by 2.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,790 shares of the company's stock worth $408,000 after acquiring an additional 148 shares in the last quarter. Evolve Private Wealth LLC boosted its holdings in Travel + Leisure by 1.7% during the 1st quarter. Evolve Private Wealth LLC now owns 9,270 shares of the company's stock valued at $641,000 after acquiring an additional 156 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in Travel + Leisure by 19.7% during the 2nd quarter. Geneos Wealth Management Inc. now owns 1,148 shares of the company's stock valued at $59,000 after acquiring an additional 189 shares during the period. Hedge funds and other institutional investors own 87.54% of the company's stock.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on TNL shares. Zacks Research downgraded Travel + Leisure from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 19th. Wells Fargo & Company raised their price objective on shares of Travel + Leisure from $87.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Morgan Stanley lifted their price objective on shares of Travel + Leisure from $83.00 to $85.00 and gave the company an "overweight" rating in a report on Tuesday, August 18th. The Goldman Sachs Group raised shares of Travel + Leisure from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a research note on Monday, June 1st. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Travel + Leisure in a report on Tuesday, July 21st. Eleven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $87.82.
Get Our Latest Stock Analysis on TNL
Travel + Leisure Price Performance
NYSE TNL opened at $71.27 on Monday. The firm's fifty day moving average price is $74.84 and its 200 day moving average price is $72.15. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of 19.47, a price-to-earnings-growth ratio of 0.48 and a beta of 1.17. Travel + Leisure Co. has a 12 month low of $58.07 and a 12 month high of $81.00.
Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, meeting the consensus estimate of $1.88. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The company's quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm earned $1.65 EPS. As a group, sell-side analysts forecast that Travel + Leisure Co. will post 7.7 earnings per share for the current year.
Travel + Leisure Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Wednesday, September 16th. Travel + Leisure's dividend payout ratio is currently 65.57%.
Insider Buying and Selling
In other news, Director George Herrera sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $37,580.00. Following the completion of the sale, the director owned 1,353 shares of the company's stock, valued at approximately $101,691.48. This trade represents a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Geoffrey Richards sold 33,744 shares of the business's stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $75.65, for a total value of $2,552,733.60. Following the transaction, the insider owned 1,600 shares of the company's stock, valued at $121,040. This represents a 95.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 115,135 shares of company stock worth $8,505,899 in the last 90 days. 4.01% of the stock is owned by 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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