Friedenthal Financial Makes New Investment in Travel + Leisure Co. $TNL

Key Points

• Friedenthal Financial initiated a new position in Travel + Leisure Co. (NYSE:TNL), buying 15,668 shares worth about $1.084 million in the first quarter.
• The company reported better-than-expected quarterly results, posting EPS of $1.45 versus the $1.31 consensus and revenue of $961 million, while revenue rose 2.9% year over year.
• Travel + Leisure also declared a quarterly dividend of $0.60 per share, implying an annualized yield of 3.1%, while analysts remain broadly positive with a “Moderate Buy” rating and an average target price of $85.40.

Friedenthal Financial purchased a new stake in Travel + Leisure Co. (NYSE:TNL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,668 shares of the company's stock, valued at approximately $1,084,000.

Several other institutional investors have also recently made changes to their positions in TNL. Norges Bank acquired a new stake in shares of Travel + Leisure in the 4th quarter valued at about $62,162,000. AQR Capital Management LLC increased its position in Travel + Leisure by 46.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company's stock valued at $138,449,000 after buying an additional 855,151 shares in the last quarter. Gotham Asset Management LLC raised its stake in Travel + Leisure by 139.2% during the 4th quarter. Gotham Asset Management LLC now owns 631,336 shares of the company's stock worth $44,528,000 after buying an additional 367,356 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Travel + Leisure by 68.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 885,105 shares of the company's stock worth $62,427,000 after buying an additional 359,186 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Travel + Leisure by 124.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 567,478 shares of the company's stock worth $40,024,000 after acquiring an additional 314,481 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company's stock.

Travel + Leisure Stock Performance

TNL stock opened at $76.69 on Thursday. The business has a 50-day simple moving average of $69.51 and a two-hundred day simple moving average of $71.11. The company has a market capitalization of $4.79 billion, a P/E ratio of 21.54, a price-to-earnings-growth ratio of 0.58 and a beta of 1.17. Travel + Leisure Co. has a 52-week low of $50.00 and a 52-week high of $81.00.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.31 by $0.14. The firm had revenue of $961.00 million during the quarter, compared to the consensus estimate of $954.80 million. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 5.85%.The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.11 earnings per share. As a group, sell-side analysts forecast that Travel + Leisure Co. will post 7.46 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 12th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, June 12th. Travel + Leisure's dividend payout ratio is presently 67.42%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TNL. Wall Street Zen cut Travel + Leisure from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. The Goldman Sachs Group raised Travel + Leisure from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a research report on Monday, June 1st. Barclays cut their target price on Travel + Leisure from $78.00 to $74.00 and set an "equal weight" rating on the stock in a report on Thursday, April 23rd. Morgan Stanley reduced their price target on shares of Travel + Leisure from $80.00 to $78.00 and set an "overweight" rating for the company in a research report on Tuesday, May 12th. Finally, Wells Fargo & Company decreased their price target on shares of Travel + Leisure from $88.00 to $87.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Ten investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $85.40.

Insider Buying and Selling at Travel + Leisure

In other Travel + Leisure news, Director George Herrera sold 500 shares of Travel + Leisure 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 transaction, the director directly owned 1,353 shares of the company's stock, valued at $101,691.48. The trade was a 26.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Dean Brown sold 9,443 shares of the company's stock in a transaction on Friday, April 17th. The stock was sold at an average price of $79.11, for a total transaction of $747,035.73. Following the completion of the sale, the insider owned 487,303 shares of the company's stock, valued at approximately $38,550,540.33. The trade was a 1.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 53,074 shares of company stock worth $3,907,122. 4.01% of the stock is currently owned by insiders.

Travel + Leisure Company 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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