10,124 Shares in Travel + Leisure Co. $TNL Purchased by Pallas Capital Advisors LLC

Key Points

• Pallas Capital Advisors LLC has made a new investment of $522,000 in Travel + Leisure Co. (NYSE:TNL), purchasing 10,124 shares of the company's stock.
• Travel + Leisure Co. reported earnings of $1.65 per share for the last quarter, slightly missing analysts' expectations, with year-over-year revenue growth of 3.4%.
• Multiple analysts upgraded their ratings on Travel + Leisure, with Mizuho raising the target price from $63 to $72 and Wall Street Zen changing its rating from "hold" to "buy."

Pallas Capital Advisors LLC purchased a new position in Travel + Leisure Co. (NYSE:TNL - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,124 shares of the company's stock, valued at approximately $522,000.

Several other institutional investors have also recently made changes to their positions in TNL. Aaron Wealth Advisors LLC purchased a new position in shares of Travel + Leisure during the 2nd quarter valued at approximately $225,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Travel + Leisure by 7.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 53,599 shares of the company's stock worth $2,766,000 after purchasing an additional 3,696 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Travel + Leisure by 17.8% during the second quarter. Parallel Advisors LLC now owns 1,202 shares of the company's stock valued at $62,000 after buying an additional 182 shares in the last quarter. Kera Capital Partners Inc. acquired a new position in shares of Travel + Leisure during the 2nd quarter worth about $392,000. Finally, Voya Investment Management LLC boosted its holdings in shares of Travel + Leisure by 362.0% in the 1st quarter. Voya Investment Management LLC now owns 175,221 shares of the company's stock worth $8,111,000 after acquiring an additional 137,295 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on TNL. Wall Street Zen upgraded shares of Travel + Leisure from a "hold" rating to a "buy" rating in a research report on Saturday. Barclays boosted their price objective on shares of Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a report on Thursday, July 24th. Mizuho raised shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and upped their price target for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. Finally, JMP Securities increased their price objective on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.30.

Travel + Leisure Stock Down 0.8%

Shares of TNL stock traded down $0.51 during mid-day trading on Friday, reaching $61.00. The stock had a trading volume of 1,391,414 shares, compared to its average volume of 604,677. The firm's 50 day simple moving average is $60.67 and its 200 day simple moving average is $52.39. Travel + Leisure Co. has a one year low of $37.77 and a one year high of $64.11. The firm has a market cap of $3.96 billion, a PE ratio of 10.52, a P/E/G ratio of 0.59 and a beta of 1.44.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its 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). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. Travel + Leisure's revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.52 EPS. Sell-side analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 12th. Travel + Leisure's payout ratio is currently 38.62%.

Insiders Place Their Bets

In other Travel + Leisure news, insider Jeffrey Myers sold 110,885 shares of Travel + Leisure 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 transaction, the insider owned 142,553 shares of the company's stock, valued at $8,885,328.49. The trade was a 43.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Geoffrey Richards sold 124,454 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $62.56, for a total value of $7,785,842.24. Following the completion of the sale, the insider owned 118,718 shares in the company, valued at $7,426,998.08. The trade was a 51.18% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 320,174 shares of company stock valued at $19,765,874. Corporate 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.