Everstar Asset Management LLC Purchases 6,944 Shares of Travel + Leisure Co. $TNL

Key Points

• Everstar Asset Management LLC increased its stake in Travel + Leisure Co. by 77.8%, owning 15,875 shares worth $735,000, as per their recent SEC filing.
• Analysts have mixed views on Travel + Leisure, with Mizuho upgrading its rating to "outperform" and raising the price target to $72, while others like Wall Street Zen downgraded it to "hold".
• The company announced a quarterly dividend of $0.56 per share, with a 3.6% dividend yield, scheduled for payment on September 30th to shareholders of record on September 12th.

Everstar Asset Management LLC increased its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 77.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,875 shares of the company's stock after acquiring an additional 6,944 shares during the quarter. Everstar Asset Management LLC's holdings in Travel + Leisure were worth $735,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. KBC Group NV boosted its holdings in shares of Travel + Leisure by 8.1% in the 1st quarter. KBC Group NV now owns 3,128 shares of the company's stock worth $145,000 after acquiring an additional 235 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Travel + Leisure by 3.0% in the 1st quarter. Cetera Investment Advisers now owns 10,789 shares of the company's stock worth $499,000 after acquiring an additional 317 shares in the last quarter. UMB Bank n.a. boosted 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 worth $54,000 after acquiring an additional 409 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Travel + Leisure by 26.6% in the 1st quarter. GAMMA Investing LLC now owns 2,044 shares of the company's stock worth $95,000 after acquiring an additional 429 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in shares of Travel + Leisure by 6.8% in the 1st quarter. Xponance Inc. now owns 8,247 shares of the company's stock worth $382,000 after acquiring an additional 527 shares in the last quarter. Institutional investors own 87.54% of the company's stock.

Travel + Leisure Price Performance

Shares of TNL stock traded down $1.37 during trading hours on Friday, reaching $61.83. 605,275 shares of the company were exchanged, compared to its average volume of 607,806. The stock's fifty day moving average is $60.21 and its two-hundred day moving average is $52.17. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $64.11. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 0.61 and a beta of 1.44.

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

Travel + Leisure Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 12th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, September 12th. Travel + Leisure's dividend payout ratio is currently 38.62%.

Insiders Place Their Bets

In related news, insider Kimberly Marshall sold 16,500 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $60.00, for a total value of $990,000.00. Following the transaction, the insider directly owned 56,736 shares in the company, valued at $3,404,160. This represents a 22.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George Herrera sold 2,200 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $60.48, for a total transaction of $133,056.00. Following the completion of the sale, the director owned 559 shares in the company, valued at approximately $33,808.32. This trade represents a 79.74% decrease in their ownership of the stock. 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 over the last three months. 3.75% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TNL. Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $63.00 to $72.00 in a report on Thursday, July 24th. Wall Street Zen lowered shares of Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. JMP Securities upped their target price on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Finally, Barclays upped their target price on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, July 24th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.30.

Travel + Leisure Company Profile

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.