Travel + Leisure Co. (NYSE:TNL) Shares Sold by New Age Alpha Advisors LLC

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.

New Age Alpha Advisors LLC decreased its stake in Travel + Leisure Co. (NYSE:TNL - Free Report) by 68.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,371 shares of the company's stock after selling 38,168 shares during the period. New Age Alpha Advisors LLC's holdings in Travel + Leisure were worth $804,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. LPL Financial LLC boosted its stake in Travel + Leisure by 1.2% during the 4th quarter. LPL Financial LLC now owns 37,983 shares of the company's stock worth $1,916,000 after purchasing an additional 468 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in Travel + Leisure by 77.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 8,197 shares of the company's stock worth $414,000 after purchasing an additional 3,570 shares during the period. Wells Fargo & Company MN boosted its stake in Travel + Leisure by 18.1% during the 4th quarter. Wells Fargo & Company MN now owns 68,228 shares of the company's stock worth $3,442,000 after purchasing an additional 10,437 shares during the period. Envestnet Asset Management Inc. boosted its stake in Travel + Leisure by 4.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 200,787 shares of the company's stock worth $10,130,000 after purchasing an additional 8,374 shares during the period. Finally, Federated Hermes Inc. raised its position in Travel + Leisure by 21.0% during the 4th quarter. Federated Hermes Inc. now owns 9,432 shares of the company's stock worth $476,000 after buying an additional 1,637 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company's stock.

Travel + Leisure Trading Up 1.3%

Shares of TNL traded up $0.76 during trading hours on Wednesday, reaching $61.25. The company had a trading volume of 182,458 shares, compared to its average volume of 698,007. The firm has a 50 day simple moving average of $55.16 and a 200-day simple moving average of $51.21. The company has a market capitalization of $3.98 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 0.56 and a beta of 1.43. Travel + Leisure Co. has a 12-month low of $37.77 and a 12-month high of $63.31.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the prior year, the business earned $1.52 EPS. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. Sell-side analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, June 13th. Travel + Leisure's dividend payout ratio (DPR) is 38.62%.

Insider Activity

In other Travel + Leisure news, CAO Thomas Michael Duncan sold 8,201 shares of the firm's stock in a transaction dated Thursday, July 24th. The shares were sold at an average price of $62.24, for a total transaction of $510,430.24. Following the completion of the transaction, the chief accounting officer directly owned 20,000 shares in the company, valued at approximately $1,244,800. This trade represents a 29.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey Myers sold 110,885 shares of the firm's stock in a transaction dated 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 sale, the insider directly owned 142,553 shares in the company, valued at $8,885,328.49. This represents a 43.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 320,174 shares of company stock worth $19,765,874 in the last three months. Company insiders own 3.75% of the company's stock.

Wall Street Analyst Weigh In

TNL has been the subject of a number of analyst reports. Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and upped their price objective for the stock from $63.00 to $72.00 in a research report on Thursday, July 24th. JMP Securities upped their price objective on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a research report on Thursday, July 24th. Barclays upped their price objective on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, July 24th. Morgan Stanley cut their price objective on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Travel + Leisure from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $62.30.

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.