Merit Financial Group LLC Buys New Position in Travel + Leisure Co. (NYSE:TNL)

Merit Financial Group LLC purchased a new stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,633 shares of the company's stock, valued at approximately $261,000.

Several other institutional investors have also made changes to their positions in TNL. SG Americas Securities LLC acquired a new stake in Travel + Leisure in the 4th quarter worth approximately $114,000. Empowered Funds LLC lifted its holdings in Travel + Leisure by 23.7% in the 4th quarter. Empowered Funds LLC now owns 18,566 shares of the company's stock worth $937,000 after purchasing an additional 3,558 shares during the last quarter. Entropy Technologies LP acquired a new stake in Travel + Leisure in the 4th quarter worth approximately $373,000. Allspring Global Investments Holdings LLC lifted its holdings in Travel + Leisure by 231.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 11,564 shares of the company's stock worth $577,000 after purchasing an additional 8,076 shares during the last quarter. Finally, Hourglass Capital LLC lifted its holdings in Travel + Leisure by 0.6% in the 4th quarter. Hourglass Capital LLC now owns 36,230 shares of the company's stock worth $1,828,000 after purchasing an additional 230 shares during the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on TNL. Mizuho restated a "neutral" rating and issued a $64.00 target price (up from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. Morgan Stanley cut their price target on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Truist Financial upped their price target on Travel + Leisure from $61.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Barclays cut their price target on Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating for the company in a report on Thursday, April 24th. Finally, The Goldman Sachs Group cut their price target on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating for the company in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Travel + Leisure has a consensus rating of "Moderate Buy" and a consensus price target of $59.20.

Travel + Leisure Price Performance

Shares of TNL stock traded up $1.42 during trading hours on Monday, hitting $49.21. 639,571 shares of the company's stock were exchanged, compared to its average volume of 644,316. The stock's 50-day moving average is $46.73 and its 200-day moving average is $49.98. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 8.43, a price-to-earnings-growth ratio of 0.67 and a beta of 1.37. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $58.95.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.01. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The business had revenue of $934.00 million for the quarter, compared to analyst estimates of $933.08 million. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend is Friday, June 13th. Travel + Leisure's payout ratio is 37.40%.

Insider Buying and Selling at Travel + Leisure

In other Travel + Leisure news, Director Denny Marie Post sold 5,500 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $50.20, for a total value of $276,100.00. Following the transaction, the director now owns 4,477 shares of the company's stock, valued at approximately $224,745.40. This represents a 55.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director George Herrera sold 6,336 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the transaction, the director now directly owns 2,759 shares in the company, valued at $129,121.20. The trade was a 69.66% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.75% of the company's stock.

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.