Ritholtz Wealth Management Purchases Shares of 15,634 Travel + Leisure Co. (NYSE:TNL)

Ritholtz Wealth Management acquired a new position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 15,634 shares of the company's stock, valued at approximately $724,000.

A number of other large investors have also recently made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new stake in Travel + Leisure during the 4th quarter worth about $25,000. Natixis purchased a new position in shares of Travel + Leisure in the fourth quarter worth about $37,000. Smartleaf Asset Management LLC lifted its holdings in shares of Travel + Leisure by 30.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 772 shares of the company's stock worth $39,000 after purchasing an additional 181 shares during the period. UMB Bank n.a. boosted its position in Travel + Leisure by 54.0% in the first quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock valued at $54,000 after buying an additional 409 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in Travel + Leisure by 333.3% in the 4th quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company's stock worth $66,000 after buying an additional 1,000 shares during the period. 87.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on TNL shares. Barclays decreased their price objective on shares of Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating for the company in a research note on Thursday, April 24th. Morgan Stanley lowered their price target on shares of Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Truist Financial lifted their price objective on Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a research note on Friday, March 7th. Mizuho reissued a "neutral" rating and issued a $64.00 price objective (up previously from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. Finally, The Goldman Sachs Group dropped their target price on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $59.20.

Insiders Place Their Bets

In other news, Director Denny Marie Post sold 5,500 shares of Travel + Leisure stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $50.20, for a total value of $276,100.00. Following the sale, the director now owns 4,477 shares in the company, valued at $224,745.40. This trade represents a 55.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.75% of the stock is currently owned by company insiders.

Travel + Leisure Stock Up 0.3%

TNL stock opened at $48.92 on Thursday. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $58.95. The firm has a market cap of $3.25 billion, a P/E ratio of 8.17, a PEG ratio of 0.47 and a beta of 1.37. The company's 50-day simple moving average is $46.93 and its 200-day simple moving average is $49.96.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.10 by $0.01. Travel + Leisure had a negative return on equity of 46.83% and a net margin of 10.77%. The company had revenue of $934.00 million for the quarter, compared to the consensus estimate of $933.08 million. During the same quarter in the prior year, the business posted $0.97 earnings per share. Travel + Leisure's revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, June 13th. Travel + Leisure's payout ratio is presently 37.40%.

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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