PharVision Advisers LLC Cuts Stake in Travel + Leisure Co. $TNL

Key Points

• PharVision Advisers LLC has reduced its stake in Travel + Leisure Co. (NYSE:TNL) by 66.9%, now holding 4,668 shares valued at $216,000 after selling 9,456 shares in the first quarter.
• Insider Jeffrey Myers and Geoffrey Richards sold significant portions of their stock, with Myers selling 110,885 shares and Richards selling 124,454 shares, marking decreases of 43.75% and 51.18% in their ownership, respectively.
• Travel + Leisure Co. is facing a 1.3% decline in stock price and recently reported earnings of $1.65 per share, missing analysts' expectations by $0.01.

PharVision Advisers LLC reduced its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 66.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,668 shares of the company's stock after selling 9,456 shares during the period. PharVision Advisers LLC's holdings in Travel + Leisure were worth $216,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TNL. Elequin Capital LP purchased a new position in shares of Travel + Leisure during the 1st quarter worth about $30,000. UMB Bank n.a. lifted its holdings in shares of Travel + Leisure by 54.0% during the 1st quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock worth $54,000 after acquiring an additional 409 shares during the period. N.E.W. Advisory Services LLC purchased a new position in shares of Travel + Leisure during the 1st quarter worth about $54,000. Rossby Financial LCC purchased a new position in shares of Travel + Leisure during the 1st quarter worth about $55,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Travel + Leisure by 61.5% during the 1st quarter. Fifth Third Bancorp now owns 1,873 shares of the company's stock worth $87,000 after acquiring an additional 713 shares during the period. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Travel + Leisure

In other news, insider Jeffrey Myers sold 110,885 shares of Travel + Leisure stock in a transaction that occurred 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 sale, the insider owned 142,553 shares in the company, valued at $8,885,328.49. This trade represents a 43.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Geoffrey Richards sold 124,454 shares of Travel + Leisure stock in a transaction that occurred on Friday, July 25th. The shares were 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 represents a 51.18% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 320,174 shares of company stock valued at $19,765,874. 3.75% of the stock is currently owned by corporate insiders.

Travel + Leisure Stock Down 1.3%

TNL opened at $62.66 on Friday. The firm has a market capitalization of $4.07 billion, a P/E ratio of 10.80, a P/E/G ratio of 0.60 and a beta of 1.44. The firm's 50 day moving average is $59.46 and its 200-day moving average is $51.96. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $64.12.

Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The company's revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.52 EPS. Equities analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be paid a dividend of $0.56 per share. The ex-dividend date is Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.6%. Travel + Leisure's dividend payout ratio (DPR) is currently 38.62%.

Analyst Ratings Changes

A number of research analysts have weighed in on TNL shares. Wall Street Zen cut shares of Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. Mizuho raised shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and raised their target price for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. JMP Securities lifted their target price on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a report on Thursday, July 24th. Finally, Barclays lifted their target price 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. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Travel + Leisure currently has an average rating of "Moderate Buy" and a consensus price target of $62.30.

About Travel + Leisure

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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