Caxton Associates LLP Makes New $1.34 Million Investment in Travel + Leisure Co. $TNL

Key Points

• Caxton Associates LLP acquired 28,864 shares of Travel + Leisure Co. ($TNL) in Q1, valued at approximately $1.34 million.
• Several institutional investors, including AQR Capital Management and LSV Asset Management, significantly increased their stakes in Travel + Leisure during the same quarter.
• The company recently announced a quarterly dividend of $0.56, set to be paid on September 30th, representing a 3.6% annual yield.

Caxton Associates LLP acquired a new position in Travel + Leisure Co. (NYSE:TNL - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 28,864 shares of the company's stock, valued at approximately $1,336,000.

A number of other large investors have also added to or reduced their stakes in TNL. Nuveen LLC bought a new stake in Travel + Leisure in the 1st quarter worth approximately $41,114,000. AQR Capital Management LLC increased its stake in Travel + Leisure by 28.3% in the 1st quarter. AQR Capital Management LLC now owns 1,827,453 shares of the company's stock worth $83,241,000 after acquiring an additional 403,418 shares during the last quarter. LSV Asset Management increased its stake in Travel + Leisure by 37.7% in the 1st quarter. LSV Asset Management now owns 956,109 shares of the company's stock worth $44,258,000 after acquiring an additional 261,528 shares during the last quarter. Millennium Management LLC increased its stake in Travel + Leisure by 129.5% in the 1st quarter. Millennium Management LLC now owns 413,505 shares of the company's stock worth $19,141,000 after acquiring an additional 233,345 shares during the last quarter. Finally, Ranmore Fund Management Ltd increased its stake in Travel + Leisure by 621.1% in the 1st quarter. Ranmore Fund Management Ltd now owns 255,000 shares of the company's stock worth $11,804,000 after acquiring an additional 219,637 shares during the last quarter. Institutional investors own 87.54% of the company's stock.

Travel + Leisure Stock Performance

TNL stock traded up $0.16 during trading on Monday, reaching $61.97. 85,197 shares of the company traded hands, compared to its average volume of 688,661. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $64.11. The business has a 50 day simple moving average of $60.21 and a 200 day simple moving average of $52.15. The company has a market capitalization of $4.02 billion, a price-to-earnings ratio of 10.68, a price-to-earnings-growth ratio of 0.60 and a beta of 1.44.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned $1.52 EPS. Travel + Leisure's revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, research analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be given a dividend of $0.56 per share. 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 (DPR) is presently 38.62%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TNL shares. Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $63.00 to $72.00 in a research report on Thursday, July 24th. Wall Street Zen downgraded Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. 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. Finally, JMP Securities lifted their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $62.30.

Insider Activity at Travel + Leisure

In related news, insider Geoffrey Richards sold 124,454 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $62.56, for a total transaction of $7,785,842.24. Following the sale, the insider owned 118,718 shares of the company's stock, valued at $7,426,998.08. This trade represents a 51.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director George Herrera sold 2,200 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $60.48, for a total value of $133,056.00. Following 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 have sold 320,174 shares of company stock valued at $19,765,874 over the last 90 days. Company 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.