Robotti Robert Makes New Investment in Travel + Leisure Co. $TNL

Key Points

• Robotti Robert acquired 122,039 shares of Travel + Leisure in the second quarter, worth approximately $9.3 million and representing about 1.5% of the fund’s holdings. Institutional investors collectively own 87.54% of the company.
• Travel + Leisure reported quarterly EPS of $1.88, in line with estimates, while revenue rose 4.4% year over year to $1.06 billion. The company declared a quarterly dividend of $0.60 per share, implying a 3.3% yield.
• The stock opened at $72.33, below its 50-day moving average, while analysts maintained an overall “Buy” consensus with an average price target of $87.82. Recent insider activity was negative, with insiders selling 95,135 shares worth about $7.0 million over 90 days.

Robotti Robert purchased a new stake in Travel + Leisure Co. (NYSE:TNL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 122,039 shares of the company's stock, valued at approximately $9,327,000. Travel + Leisure makes up about 1.5% of Robotti Robert's holdings, making the stock its 17th biggest position. Robotti Robert owned about 0.20% of Travel + Leisure at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Danske Bank A S acquired a new stake in shares of Travel + Leisure in the 3rd quarter valued at about $30,000. Elevation Wealth Partners LLC lifted its holdings in shares of Travel + Leisure by 413.3% in the second quarter. Elevation Wealth Partners LLC now owns 462 shares of the company's stock valued at $35,000 after purchasing an additional 372 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of Travel + Leisure during the fourth quarter worth about $43,000. Assetmark Inc. boosted its position in shares of Travel + Leisure by 43.8% during the first quarter. Assetmark Inc. now owns 627 shares of the company's stock worth $43,000 after buying an additional 191 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of 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 buying an additional 715 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company's stock.

Insider Buying and Selling

In other news, Director George Herrera sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total value of $37,580.00. Following the sale, the director directly owned 1,353 shares in the company, valued at approximately $101,691.48. This trade represents a 26.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kimberly Marshall sold 32,691 shares of Travel + Leisure stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $75.00, for a total transaction of $2,451,825.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 95,135 shares of company stock worth $7,022,699. Corporate insiders own 4.01% of the company's stock.

Travel + Leisure Stock Down 1.8%

Travel + Leisure stock opened at $72.33 on Wednesday. The company's 50-day moving average price is $75.22 and its two-hundred day moving average price is $72.09. The stock has a market cap of $4.43 billion, a P/E ratio of 19.76, a P/E/G ratio of 0.51 and a beta of 1.17. Travel + Leisure Co. has a twelve month low of $57.86 and a twelve month high of $81.00.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.88. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations 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 in the previous year, the business posted $1.65 earnings per share. Equities analysts anticipate that Travel + Leisure Co. will post 7.68 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.60 per share. The ex-dividend date 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 currently 65.57%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Mizuho lifted their target price on Travel + Leisure from $105.00 to $107.00 and gave the company an "outperform" rating in a research report on Thursday, July 23rd. Susquehanna initiated coverage on Travel + Leisure in a research report on Tuesday. They set a "positive" rating and a $95.00 price target for the company. Wall Street Zen cut shares of Travel + Leisure from a "buy" rating to a "hold" rating in a research note on Saturday, April 25th. Wells Fargo & Company lifted their price objective on shares of Travel + Leisure from $87.00 to $92.00 and gave the company an "overweight" rating in a report on Thursday, July 23rd. Finally, Morgan Stanley boosted their price objective on shares of Travel + Leisure from $83.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $87.82.

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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