Redwood Investment Management LLC Makes New Investment in Travel + Leisure Co. $TNL

Key Points

• Redwood Investment Management initiated a $1.17 million position in Travel + Leisure during the second quarter, while institutional ownership reached 87.54% after several other major investors also bought shares.
• Analysts remain broadly positive, with 11 Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $87.82, above the reported $73.58 share price.
• Travel + Leisure matched quarterly EPS estimates at $1.88, exceeded revenue expectations with $1.06 billion, and reported 4.4% year-over-year revenue growth; it also declared a $0.60 quarterly dividend, representing a 3.3% yield.

Redwood Investment Management LLC purchased a new position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,260 shares of the company's stock, valued at approximately $1,166,000.

A number of other large investors also recently modified their holdings of TNL. Proficio Capital Partners LLC bought a new stake in Travel + Leisure during the 2nd quarter worth $234,000. Corient Private Wealth LP acquired a new position in Travel + Leisure in the 2nd quarter worth about $13,330,000. Bank of America Corp DE bought a new position in Travel + Leisure in the second quarter valued at about $19,663,000. Freestone Grove Partners LP bought a new position in Travel + Leisure in the second quarter valued at about $2,079,000. Finally, Man Group plc acquired a new stake in shares of Travel + Leisure during the second quarter valued at about $273,000. 87.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Susquehanna began coverage on Travel + Leisure in a report on Tuesday, August 18th. They set a "positive" rating and a $95.00 price target on the stock. Barclays lifted their target price on shares of Travel + Leisure from $74.00 to $77.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 23rd. The Goldman Sachs Group raised shares of Travel + Leisure from a "neutral" rating to a "buy" rating and set a $85.00 target price on the stock in a report on Monday, June 1st. Citigroup reissued a "market outperform" rating on shares of Travel + Leisure in a research note on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $87.82.

Insider Activity

In related news, Director George Herrera sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $37,580.00. Following the completion of the sale, the director owned 1,353 shares of the company's stock, valued at $101,691.48. This trade represents a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kimberly Marshall sold 32,691 shares of Travel + Leisure stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total value of $2,451,825.00. The SEC filing for this sale provides additional information. Insiders have sold 95,135 shares of company stock valued at $7,022,699 in the last ninety days. 4.01% of the stock is owned by company insiders.

Travel + Leisure Stock Performance

NYSE:TNL opened at $73.58 on Thursday. Travel + Leisure Co. has a 52 week low of $58.07 and a 52 week high of $81.00. The firm's fifty day moving average is $75.05 and its 200-day moving average is $72.17. The firm has a market cap of $4.50 billion, a P/E ratio of 20.10, a P/E/G ratio of 0.50 and a beta of 1.17.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, hitting analysts' consensus estimates of $1.88. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. Travel + Leisure's quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.65 earnings per share. As a group, sell-side analysts anticipate that Travel + Leisure Co. will post 7.7 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be given a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.40 annualized dividend and a dividend yield of 3.3%. Travel + Leisure's dividend payout ratio (DPR) is 65.57%.

Travel + Leisure Company Profile

Travel + Leisure Co NYSE: TNL is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.

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