Freestone Grove Partners LP Buys New Stake in Travel + Leisure Co. $TNL

Key Points

• Freestone Grove Partners bought 27,199 shares of Travel + Leisure Co. in the second quarter, valued at approximately $2.08 million. Institutional investors collectively own 87.54% of the company.
• Analysts remain broadly positive, with 11 Buy ratings and two Holds, resulting in a “Moderate Buy” consensus and an average price target of $87.82.
• Travel + Leisure reported quarterly EPS of $1.88 on $1.06 billion in revenue, while announcing a quarterly dividend of $0.60 per share, equivalent to a 3.4% yield.

Freestone Grove Partners LP bought a new stake in Travel + Leisure Co. (NYSE:TNL - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 27,199 shares of the company's stock, valued at approximately $2,079,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Baron Wealth Management LLC lifted its holdings in shares of Travel + Leisure by 2.8% during the 1st quarter. Baron Wealth Management LLC now owns 4,953 shares of the company's stock valued at $343,000 after purchasing an additional 133 shares during the last quarter. Diversified Trust Co grew 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 buying an additional 137 shares during the last quarter. PNC Financial Services Group Inc. increased its position 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 valued at $408,000 after buying an additional 148 shares in the last quarter. Evolve Private Wealth LLC increased its position 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 buying an additional 156 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in Travel + Leisure by 19.7% in the second quarter. Geneos Wealth Management Inc. now owns 1,148 shares of the company's stock valued at $59,000 after buying an additional 189 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on TNL shares. Susquehanna began coverage on Travel + Leisure in a report on Tuesday, August 18th. They issued a "positive" rating and a $95.00 price target for the company. Weiss Ratings restated a "buy (b-)" rating on shares of Travel + Leisure in a report on Tuesday, July 21st. The Goldman Sachs Group raised shares of Travel + Leisure from a "neutral" rating to a "buy" rating and set a $85.00 price objective for the company in a research report on Monday, June 1st. Mizuho lifted their target price on shares of Travel + Leisure from $105.00 to $107.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. Finally, Barclays boosted their target price on shares of Travel + Leisure from $74.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $87.82.

Insider Buying and Selling at Travel + Leisure

In related news, Director George Herrera sold 500 shares of the business's stock in a transaction 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 transaction, the director directly owned 1,353 shares in the company, valued at $101,691.48. The trade was a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Thomas Michael Duncan sold 20,000 shares of the company'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 completion of the sale, the chief accounting officer directly owned 5,307 shares in the company, valued at approximately $393,567.12. The trade was a 79.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 115,135 shares of company stock valued at $8,505,899. Company insiders own 4.01% of the company's stock.

Travel + Leisure Stock Down 0.6%

Shares of NYSE TNL opened at $71.27 on Friday. Travel + Leisure Co. has a 52 week low of $58.07 and a 52 week high of $81.00. The business's 50 day moving average price is $74.84 and its 200 day moving average price is $72.15. The firm has a market cap of $4.36 billion, a P/E ratio of 19.47, a P/E/G ratio of 0.49 and a beta of 1.17.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.88. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. Travel + Leisure's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $1.65 EPS. As a group, research analysts expect 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. Investors 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 3.4%. The ex-dividend date of this dividend is Wednesday, September 16th. Travel + Leisure's dividend payout ratio (DPR) is 65.57%.

Travel + Leisure Profile

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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