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New Age Alpha Advisors LLC Sells 38,168 Shares of Travel + Leisure Co. (NYSE:TNL)

Travel + Leisure logo with Consumer Discretionary background

Key Points

  • New Age Alpha Advisors LLC significantly reduced its holdings in Travel + Leisure Co. by 68.7% during the first quarter, leaving them with 17,371 shares valued at approximately $804,000.
  • Multiple hedge funds have recently adjusted their positions, with UMB Bank increasing its stake by 54.0% and Canada Pension Plan Investment Board boosting its position by 333.3%.
  • The stock currently has an average rating of "Moderate Buy" and a consensus target price of $62.30, following various analysts' upgrades and downgrades on its pricing.
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New Age Alpha Advisors LLC lessened its position in Travel + Leisure Co. (NYSE:TNL - Free Report) by 68.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,371 shares of the company's stock after selling 38,168 shares during the quarter. New Age Alpha Advisors LLC's holdings in Travel + Leisure were worth $804,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in Travel + Leisure by 210.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 35,893 shares of the company's stock worth $1,666,000 after acquiring an additional 24,329 shares during the period. Merit Financial Group LLC bought a new position in Travel + Leisure in the 1st quarter worth $261,000. GAMMA Investing LLC raised its holdings in Travel + Leisure by 26.6% in the 1st quarter. GAMMA Investing LLC now owns 2,044 shares of the company's stock worth $95,000 after acquiring an additional 429 shares during the period. Cerity Partners LLC raised its holdings in Travel + Leisure by 10.1% in the 1st quarter. Cerity Partners LLC now owns 21,529 shares of the company's stock worth $997,000 after acquiring an additional 1,980 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Travel + Leisure by 4.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 208,929 shares of the company's stock worth $9,671,000 after purchasing an additional 8,142 shares during the period. Institutional investors own 87.54% of the company's stock.

Insiders Place Their Bets

In other Travel + Leisure news, insider Michael Dean Brown acquired 1,500 shares of the business's stock in a transaction that occurred on Friday, August 1st. The shares were acquired at an average cost of $58.39 per share, for a total transaction of $87,585.00. Following the completion of the acquisition, the insider directly owned 427,821 shares of the company's stock, valued at approximately $24,980,468.19. This represents a 0.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kimberly Marshall sold 16,500 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $60.00, for a total transaction of $990,000.00. Following the completion of the transaction, the insider owned 56,736 shares in the company, valued at $3,404,160. This represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 317,974 shares of company stock valued at $19,632,818 over the last three months. 3.75% of the stock is owned by insiders.

Travel + Leisure Stock Performance

Travel + Leisure stock traded down $0.85 during trading hours on Monday, hitting $58.03. 747,100 shares of the stock were exchanged, compared to its average volume of 702,501. The business's 50-day moving average is $54.75 and its two-hundred day moving average is $51.11. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $63.31. The stock has a market capitalization of $3.77 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.57 and a beta of 1.43.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the company earned $1.52 earnings per share. The company's quarterly revenue was up 3.4% 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 fiscal year.

Travel + Leisure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 3.9%. The ex-dividend date was Friday, June 13th. Travel + Leisure's dividend payout ratio is currently 38.62%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TNL shares. Barclays boosted their price objective 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. Wall Street Zen upgraded shares of Travel + Leisure from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. JMP Securities boosted their price objective on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a report on Thursday, July 24th. The Goldman Sachs Group dropped their price objective on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Morgan Stanley dropped their price objective on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $62.30.

Read Our Latest Analysis on Travel + Leisure

Travel + Leisure Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Travel + Leisure (NYSE:TNL)

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