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

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

Other hedge funds have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in shares of Travel + Leisure by 30.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company's stock valued at $39,000 after purchasing an additional 181 shares in the last quarter. Cerity Partners LLC lifted its stake in Travel + Leisure by 1.0% during the fourth quarter. Cerity Partners LLC now owns 19,549 shares of the company's stock valued at $986,000 after purchasing an additional 200 shares during the last quarter. Capital Analysts LLC lifted its stake in Travel + Leisure by 16.8% during the fourth quarter. Capital Analysts LLC now owns 1,576 shares of the company's stock valued at $80,000 after purchasing an additional 227 shares during the last quarter. Hourglass Capital LLC boosted its holdings in Travel + Leisure by 0.6% during the fourth quarter. Hourglass Capital LLC now owns 36,230 shares of the company's stock worth $1,828,000 after buying an additional 230 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its position in Travel + Leisure by 2.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,944 shares of the company's stock worth $451,000 after buying an additional 236 shares during the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director George Herrera sold 6,336 shares of the business'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 completion of the transaction, the director now owns 2,759 shares of the company's stock, valued at approximately $129,121.20. The trade was a 69.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Denny Marie Post sold 5,500 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $50.20, for a total value of $276,100.00. Following the sale, the director now owns 4,477 shares of the company's stock, valued at approximately $224,745.40. The trade was a 55.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.75% of the company's stock.

Analyst Upgrades and Downgrades

TNL has been the subject of a number of recent research reports. 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 issued a $64.00 price target (up from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Morgan Stanley decreased their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Barclays dropped their price objective on shares of Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating on the stock in a research note on Thursday, April 24th. Finally, Truist Financial lifted their target price on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $59.20.

Travel + Leisure Stock Down 5.0%

Shares of TNL traded down $2.51 during mid-day trading on Friday, hitting $47.77. 768,392 shares of the company's stock were exchanged, compared to its average volume of 643,262. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 8.18, a P/E/G ratio of 0.67 and a beta of 1.37. The firm has a fifty day moving average of $46.34 and a two-hundred day moving average of $50.15. Travel + Leisure Co. has a twelve month low of $37.77 and a twelve month high of $58.95.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $934.00 million during the quarter, compared to analysts' expectations of $933.08 million. During the same period in the prior year, the company posted $0.97 earnings per share. Travel + Leisure's revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.69%. The ex-dividend date is Friday, June 13th. Travel + Leisure's payout ratio is 37.40%.

About Travel + Leisure

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.