Engineers Gate Manager LP Sells 141,905 Shares of Travel + Leisure Co. $TNL

Key Points

• Engineers Gate Manager LP cut its Travel + Leisure position by 91.4% in the second quarter, selling 141,905 shares and retaining 13,321 shares valued at approximately $1.02 million. Institutional investors collectively own 87.54% of TNL.
• Travel + Leisure reported quarterly revenue of $1.06 billion, up 4.4% year over year, while EPS of $1.88 matched analyst expectations. The company also declared a quarterly dividend of $0.60 per share, representing a 3.8% annualized yield.
• Analyst sentiment remains positive, with 11 Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $89.18. TNL opened at $63.21, below its 50-day and 200-day moving averages.

Engineers Gate Manager LP lowered its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 91.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,321 shares of the company's stock after selling 141,905 shares during the quarter. Engineers Gate Manager LP's holdings in Travel + Leisure were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of TNL. First Bancorp Inc ME purchased a new stake in Travel + Leisure during the 2nd quarter valued at about $27,000. Elevation Wealth Partners LLC grew its holdings in shares of Travel + Leisure by 413.3% in the second quarter. Elevation Wealth Partners LLC now owns 462 shares of the company's stock worth $35,000 after purchasing an additional 372 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of Travel + Leisure in the second quarter worth $46,000. Assetmark Inc. raised its holdings in Travel + Leisure by 43.8% during the 1st quarter. Assetmark Inc. now owns 627 shares of the company's stock valued at $43,000 after buying an additional 191 shares during the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in Travel + Leisure by 27.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,241 shares of the company's stock valued at $88,000 after buying an additional 265 shares during the period. 87.54% of the stock is currently owned by institutional investors.

Insider Transactions at Travel + Leisure

In related news, insider Kimberly Marshall sold 32,691 shares of the firm's stock in a transaction that occurred 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geoffrey Richards sold 33,744 shares of Travel + Leisure stock in a transaction 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. The trade was a 95.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 86,635 shares of company stock valued at $6,503,559 in the last ninety days. 4.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TNL has been the subject of a number of analyst reports. Mizuho increased their target price on shares of Travel + Leisure from $105.00 to $107.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Citigroup reaffirmed a "market outperform" rating on shares of Travel + Leisure in a research report on Thursday, July 23rd. Zacks Research cut Travel + Leisure from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. The Goldman Sachs Group upgraded Travel + Leisure from a "neutral" rating to a "buy" rating and set a $85.00 price objective on the stock in a research report on Monday, June 1st. Finally, Wells Fargo & Company boosted their target price on Travel + Leisure from $87.00 to $92.00 and gave the company an "overweight" rating in a research note on Thursday, July 23rd. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $89.18.

Travel + Leisure Stock Down 0.8%

NYSE TNL opened at $63.21 on Friday. The firm has a market capitalization of $3.87 billion, a PE ratio of 17.27, a P/E/G ratio of 0.43 and a beta of 1.15. The stock's 50 day moving average is $71.83 and its 200 day moving average is $71.29. Travel + Leisure Co. has a twelve month low of $58.07 and a twelve month high of $81.00.

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

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, September 16th. Travel + Leisure's dividend payout ratio (DPR) is presently 65.57%.

Travel + Leisure Profile

Travel + Leisure Co NYSE: TNL is a hospitality and leisure company focused primarily on vacation ownership, membership, and travel services. The company develops, sells, and manages vacation ownership interests and related travel products through brands that include Club Wyndham, WorldMark by Wyndham, Margaritaville Vacation Club, and Travel + Leisure Co vacation ownership offerings.

The company also operates RCI, a vacation exchange network that enables members of affiliated vacation ownership programs to exchange accommodations in destinations around the world.

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