GAMMA Investing LLC Purchases 93,002 Shares of Travel + Leisure Co. (NYSE:TNL)

GAMMA Investing LLC raised its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 5,758.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 94,617 shares of the company's stock after purchasing an additional 93,002 shares during the quarter. GAMMA Investing LLC owned about 0.14% of Travel + Leisure worth $4,380,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TNL. Norges Bank bought a new position in Travel + Leisure during the 4th quarter valued at $45,804,000. Nuveen Asset Management LLC boosted its stake in Travel + Leisure by 25.1% during the 4th quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company's stock valued at $45,299,000 after purchasing an additional 180,059 shares in the last quarter. Invesco Ltd. boosted its stake in Travel + Leisure by 4.8% during the 4th quarter. Invesco Ltd. now owns 3,544,548 shares of the company's stock valued at $178,822,000 after purchasing an additional 163,804 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Travel + Leisure during the 4th quarter valued at $6,304,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Travel + Leisure by 15.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company's stock valued at $46,169,000 after acquiring an additional 122,173 shares during the last quarter. 87.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on TNL shares. Tigress Financial increased their price objective on Travel + Leisure from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Mizuho reissued a "neutral" rating and set a $64.00 target price (up from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Barclays lowered their target price on shares of Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating on the stock in a research report on Thursday, April 24th. Morgan Stanley lowered their target price on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Truist Financial increased their target price on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Travel + Leisure presently has an average rating of "Moderate Buy" and an average price target of $59.20.

Travel + Leisure Stock Performance

Shares of NYSE:TNL traded down $2.51 during midday trading on Friday, hitting $47.77. The company's stock had a trading volume of 768,392 shares, compared to its average volume of 644,336. The stock's 50 day simple moving average is $46.52 and its 200 day simple moving average is $50.10. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $58.95. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 8.18, a PEG ratio of 0.67 and a beta of 1.37.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.01. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The business had revenue of $934.00 million during the quarter, compared to analysts' expectations of $933.08 million. During the same quarter last year, the company earned $0.97 earnings per share. The firm's revenue was up 2.0% on a year-over-year basis. As a group, analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 4.69%. The ex-dividend date is Friday, June 13th. Travel + Leisure's payout ratio is presently 37.40%.

Insider Activity at Travel + Leisure

In related news, Director Denny Marie Post sold 5,500 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $50.20, for a total value of $276,100.00. Following the completion of the sale, the director now owns 4,477 shares in the company, valued at approximately $224,745.40. This trade represents a 55.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George Herrera sold 6,336 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total transaction of $296,524.80. Following the transaction, the director now owns 2,759 shares of the company's stock, valued at approximately $129,121.20. This represents a 69.66% decrease in their position. The disclosure for this sale can be found here. 3.75% of the stock is owned by corporate insiders.

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.