Magnetar Financial LLC Makes New $255,000 Investment in Travel + Leisure Co. $TNL

Key Points

• Magnetar Financial LLC acquired 5,498 shares of Travel + Leisure Co. valued at approximately $255,000, indicating interest from institutional investors in the hospitality sector.
• Insiders at Travel + Leisure have sold a total of 320,174 shares valued at nearly $19.8 million recently, with one insider’s position decreasing by over 51%.
• Travel + Leisure Co. reported $1.65 EPS for the last quarter, falling short of estimates by $0.01, with a year-over-year revenue increase of 3.4%.

Magnetar Financial LLC bought a new stake in Travel + Leisure Co. (NYSE:TNL - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,498 shares of the company's stock, valued at approximately $255,000.

Other large investors have also recently bought and sold shares of the company. Elequin Capital LP purchased a new stake in Travel + Leisure in the first quarter valued at approximately $30,000. UMB Bank n.a. raised its position in Travel + Leisure by 54.0% during the first quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock valued at $54,000 after acquiring an additional 409 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in Travel + Leisure during the first quarter valued at approximately $54,000. Rossby Financial LCC purchased a new position in Travel + Leisure during the first quarter valued at approximately $55,000. Finally, Fifth Third Bancorp raised its position in Travel + Leisure by 61.5% during the first quarter. Fifth Third Bancorp now owns 1,873 shares of the company's stock valued at $87,000 after acquiring an additional 713 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Trading Down 0.0%

NYSE:TNL traded down $0.03 during trading hours on Monday, hitting $62.66. 63,411 shares of the stock were exchanged, compared to its average volume of 691,219. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $64.11. The firm's fifty day moving average price is $59.46 and its 200 day moving average price is $51.92. The company has a market cap of $4.07 billion, a P/E ratio of 10.82, a P/E/G ratio of 0.60 and a beta of 1.44.

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

Travel + Leisure Dividend Announcement

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

Insider Transactions at Travel + Leisure

In other news, insider Kimberly Marshall sold 16,500 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $3,404,160. This trade represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeffrey Myers sold 110,885 shares of the firm's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the completion of the transaction, the insider directly owned 142,553 shares in the company, valued at $8,885,328.49. This trade represents a 43.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 320,174 shares of company stock valued at $19,765,874. Company insiders own 3.75% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TNL shares. Barclays increased their price target on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a report on Thursday, July 24th. JMP Securities raised their target price on Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Wall Street Zen cut Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. Finally, Mizuho upgraded Travel + Leisure from a "neutral" rating to an "outperform" rating and raised their target price for the company from $63.00 to $72.00 in a research report on Thursday, July 24th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Travel + Leisure currently 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.