Point72 Asset Management L.P. Sells 149,864 Shares of Travel + Leisure Co. (NYSE:TNL)

Point72 Asset Management L.P. decreased its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 91.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,615 shares of the company's stock after selling 149,864 shares during the period. Point72 Asset Management L.P.'s holdings in Travel + Leisure were worth $687,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TNL. Barclays PLC lifted its holdings in shares of Travel + Leisure by 80.4% during the 3rd quarter. Barclays PLC now owns 225,326 shares of the company's stock valued at $10,383,000 after buying an additional 100,440 shares during the last quarter. Atlas Capital Advisors Inc. lifted its stake in shares of Travel + Leisure by 1,141.0% in the 4th quarter. Atlas Capital Advisors Inc. now owns 11,765 shares of the company's stock valued at $594,000 after purchasing an additional 10,817 shares during the last quarter. Amundi boosted its holdings in Travel + Leisure by 22.8% in the fourth quarter. Amundi now owns 5,940 shares of the company's stock worth $302,000 after purchasing an additional 1,103 shares in the last quarter. Envestnet Asset Management Inc. increased its position in Travel + Leisure by 4.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 200,787 shares of the company's stock worth $10,130,000 after buying an additional 8,374 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Travel + Leisure by 15.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company's stock worth $46,169,000 after buying an additional 122,173 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Insider Activity

In related news, insider Michael Dean Brown acquired 2,000 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $46.66 per share, with a total value of $93,320.00. Following the completion of the acquisition, the insider now owns 408,706 shares of the company's stock, valued at $19,070,221.96. This trade represents a 0.49% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Denny Marie Post sold 5,500 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $50.20, for a total value of $276,100.00. Following the completion of the transaction, the director now directly owns 4,477 shares of the company's stock, valued at approximately $224,745.40. The trade was a 55.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TNL shares. Morgan Stanley lowered their price objective on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Barclays lowered their price target on Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating on the stock in a report on Thursday, April 24th. Tigress Financial boosted their price objective on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, March 6th. Truist Financial upped their price objective on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a "buy" rating in a report on Friday, March 7th. Finally, Mizuho reissued a "neutral" rating and set a $64.00 target price (up previously from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.20.

Travel + Leisure Price Performance

Shares of NYSE TNL traded down $0.07 during mid-day trading on Monday, hitting $47.82. The company had a trading volume of 556,128 shares, compared to its average volume of 641,692. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $58.95. The firm has a market cap of $3.18 billion, a P/E ratio of 8.19, a PEG ratio of 0.67 and a beta of 1.41. The business's 50-day simple moving average is $45.47 and its 200-day simple moving average is $50.56.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, beating analysts' consensus estimates of $1.10 by $0.01. The business had revenue of $934.00 million during the quarter, compared to analyst estimates of $933.08 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. Travel + Leisure's revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.97 earnings per share. As a group, sell-side analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, June 13th. Travel + Leisure's payout ratio is 37.40%.

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.