Pallas Capital Advisors LLC Makes New Investment in Travel + Leisure Co. $TNL

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 stake in Travel + Leisure Co. (NYSE:TNL - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,124 shares of the company's stock, valued at approximately $522,000.

Several other institutional investors also recently modified their holdings of the stock. Elequin Capital LP acquired a new position in Travel + Leisure in the 1st quarter valued at $30,000. Geneos Wealth Management Inc. grew its stake in Travel + Leisure by 293.0% during the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company's stock worth $44,000 after purchasing an additional 715 shares during the period. UMB Bank n.a. boosted its holdings in Travel + Leisure by 54.0% in the first quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock worth $54,000 after acquiring an additional 409 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Travel + Leisure in the first quarter valued at approximately $54,000. Finally, Rossby Financial LCC bought a new position in shares of Travel + Leisure in the first quarter valued at approximately $55,000. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Price Performance

TNL traded down $0.36 during trading on Monday, hitting $60.69. The company's stock had a trading volume of 562,544 shares, compared to its average volume of 691,581. The firm's 50 day moving average price is $60.67 and its 200-day moving average price is $52.39. The stock has a market cap of $3.94 billion, a PE ratio of 10.46, a PEG ratio of 0.59 and a beta of 1.44. Travel + Leisure Co. has a twelve month low of $37.77 and a twelve month high of $64.11.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). Travel + Leisure had a negative return on equity of 47.47% and a net margin of 10.14%.The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the company earned $1.52 EPS. Travel + Leisure's revenue was up 3.4% on a year-over-year basis. Equities analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be 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 of this dividend is Friday, September 12th. Travel + Leisure's dividend payout ratio (DPR) is currently 38.62%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TNL. Wall Street Zen raised Travel + Leisure from a "hold" rating to a "buy" rating in a research note on Saturday. Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and increased their price target for the company from $63.00 to $72.00 in a report on Thursday, July 24th. Barclays increased their price target on Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research note on Thursday, July 24th. Finally, JMP Securities increased their price target on Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research note on Thursday, July 24th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.30.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, insider Jeffrey Myers sold 110,885 shares of the firm's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the completion of the transaction, the insider directly owned 142,553 shares of the company's stock, valued at $8,885,328.49. This trade represents a 43.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Geoffrey Richards sold 124,454 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $62.56, for a total transaction of $7,785,842.24. Following the sale, the insider owned 118,718 shares in the company, valued at $7,426,998.08. This trade represents a 51.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 320,174 shares of company stock worth $19,765,874 over the last 90 days. Company 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.