Ieq Capital LLC Raises Stock Position in Travel + Leisure Co. $TNL

Key Points

• Ieq Capital LLC increased its holdings in Travel + Leisure Co. by 120.6%, acquiring an additional 17,883 shares, bringing their total to 32,715 shares valued at $1.514 million.
• Travel + Leisure reported a quarterly earnings per share of $1.65, slightly missing analyst estimates, but achieved revenue of $1.02 billion, surpassing expectations by $10 million.
• The company recently announced a quarterly dividend of $0.56 per share, which represents a 3.5% annual yield and a dividend payout ratio of 38.62%.

Ieq Capital LLC boosted its holdings in Travel + Leisure Co. (NYSE:TNL - Free Report) by 120.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,715 shares of the company's stock after buying an additional 17,883 shares during the period. Ieq Capital LLC's holdings in Travel + Leisure were worth $1,514,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its holdings in shares of Travel + Leisure by 87.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,986 shares of the company's stock worth $201,000 after acquiring an additional 1,856 shares during the last quarter. Northern Trust Corp increased its position in shares of Travel + Leisure by 9.6% during the fourth quarter. Northern Trust Corp now owns 1,036,703 shares of the company's stock valued at $52,302,000 after buying an additional 90,553 shares during the period. AXA S.A. increased its position in shares of Travel + Leisure by 48.9% during the fourth quarter. AXA S.A. now owns 131,567 shares of the company's stock valued at $6,638,000 after buying an additional 43,215 shares during the period. Ameriprise Financial Inc. increased its position in shares of Travel + Leisure by 1.8% during the fourth quarter. Ameriprise Financial Inc. now owns 327,217 shares of the company's stock valued at $16,508,000 after buying an additional 5,764 shares during the period. Finally, BNP Paribas Financial Markets purchased a new stake in Travel + Leisure in the fourth quarter worth about $2,684,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Travel + Leisure Stock Performance

TNL stock traded down $0.80 during trading on Friday, hitting $62.66. 509,348 shares of the company's stock traded hands, compared to its average volume of 605,553. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $64.12. The business has a fifty day simple moving average of $59.46 and a 200 day simple moving average of $51.96. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 10.80, a P/E/G ratio of 0.60 and a beta of 1.44.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%.Travel + Leisure's revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.52 EPS. Research analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TNL. Wall Street Zen cut shares of Travel + Leisure from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. JMP Securities increased their price objective on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $63.00 to $72.00 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 company an "underweight" rating in a report on Thursday, July 24th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $62.30.

Insider Transactions at Travel + Leisure

In related news, insider Michael Dean Brown acquired 1,500 shares of the firm's stock in a transaction that occurred on Friday, August 1st. The stock was bought at an average price of $58.39 per share, for a total transaction of $87,585.00. Following the acquisition, the insider directly owned 427,821 shares of the company's stock, valued at $24,980,468.19. This represents a 0.35% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Geoffrey Richards sold 124,454 shares of Travel + Leisure stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $62.56, for a total transaction of $7,785,842.24. Following the sale, the insider owned 118,718 shares of the company's stock, valued at $7,426,998.08. The trade was a 51.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 320,174 shares of company stock worth $19,765,874. 3.75% of the stock is currently owned by insiders.

Travel + Leisure 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.