MQS Management LLC Purchases New Shares in Travel + Leisure Co. (NYSE:TNL)

MQS Management LLC purchased a new stake in Travel + Leisure Co. (NYSE:TNL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,990 shares of the company's stock, valued at approximately $740,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Invesco Ltd. boosted its holdings in Travel + Leisure by 4.8% in the fourth 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 during the last quarter. AQR Capital Management LLC boosted its holdings in Travel + Leisure by 4.3% in the fourth quarter. AQR Capital Management LLC now owns 1,424,035 shares of the company's stock valued at $71,358,000 after purchasing an additional 58,944 shares during the last quarter. Northern Trust Corp boosted its holdings in Travel + Leisure by 9.6% in the fourth quarter. Northern Trust Corp now owns 1,036,703 shares of the company's stock valued at $52,302,000 after purchasing an additional 90,553 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Travel + Leisure by 15.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company's stock valued at $46,169,000 after purchasing an additional 122,173 shares during the last quarter. Finally, Norges Bank purchased a new stake in Travel + Leisure in the fourth quarter valued at $45,804,000. 87.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Travel + Leisure

In related news, Director Denny Marie Post sold 5,500 shares of Travel + Leisure 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 completion of the sale, the director owned 4,477 shares in the company, valued at approximately $224,745.40. This trade represents a 55.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey Myers sold 13,922 shares of Travel + Leisure stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $58.00, for a total transaction of $807,476.00. Following the completion of the sale, the insider owned 165,890 shares of the company's stock, valued at $9,621,620. This trade represents a 7.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,285 shares of company stock valued at $1,474,767 in the last quarter. 3.75% of the stock is owned by insiders.

Travel + Leisure Trading Down 1.0%

TNL stock traded down $0.58 during mid-day trading on Friday, reaching $57.31. The company's stock had a trading volume of 509,851 shares, compared to its average volume of 651,968. The stock has a market cap of $3.81 billion, a PE ratio of 9.57, a P/E/G ratio of 0.55 and a beta of 1.38. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $58.95. The company's 50 day moving average is $50.56 and its two-hundred day moving average is $49.99.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $934.00 million during the quarter, compared to the consensus estimate of $933.08 million. Travel + Leisure had a net margin of 10.77% and a negative return on equity of 46.83%. The business's revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 EPS. On average, analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.91%. Travel + Leisure's dividend payout ratio is currently 37.40%.

Analyst Upgrades and Downgrades

TNL has been the topic of several recent analyst reports. 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 note on Tuesday, April 22nd. The Goldman Sachs Group lowered their target price on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Barclays decreased their price target 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $59.20.

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.