Squarepoint Ops LLC Sells 37,243 Shares of Travel + Leisure Co. $TNL

Key Points

• Squarepoint Ops LLC cut its Travel + Leisure stake by 52.1% in the second quarter, selling 37,243 shares and retaining 34,244 shares worth approximately $2.6 million. Institutional investors collectively own 87.54% of the company.
• Travel + Leisure reported quarterly EPS of $1.88, matching estimates, while revenue rose 4.4% year over year to $1.06 billion. The company declared a quarterly dividend of $0.60, representing a 3.6% annualized yield.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $89.18, compared with the stock’s reported price of $66.83.

Squarepoint Ops LLC lessened its holdings in Travel + Leisure Co. (NYSE:TNL - Free Report) by 52.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,244 shares of the company's stock after selling 37,243 shares during the quarter. Squarepoint Ops LLC owned 0.06% of Travel + Leisure worth $2,617,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of Travel + Leisure by 42.0% in the first quarter. Royal Bank of Canada now owns 91,184 shares of the company's stock worth $4,222,000 after buying an additional 26,965 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in Travel + Leisure during the 1st quarter valued at about $396,000. Millennium Management LLC grew its position in Travel + Leisure by 129.5% during the 1st quarter. Millennium Management LLC now owns 413,505 shares of the company's stock worth $19,141,000 after acquiring an additional 233,345 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Travel + Leisure by 97.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 200,286 shares of the company's stock worth $9,271,000 after acquiring an additional 98,647 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in Travel + Leisure in the 1st quarter worth approximately $206,000. 87.54% of the stock is owned by institutional investors.

Travel + Leisure Price Performance

TNL opened at $66.83 on Monday. Travel + Leisure Co. has a one year low of $58.07 and a one year high of $81.00. The business has a 50 day simple moving average of $72.81 and a two-hundred day simple moving average of $71.64. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 0.45 and a beta of 1.15.

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

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.40 annualized dividend and a yield of 3.6%. Travel + Leisure's payout ratio is 65.57%.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, insider Kimberly Marshall sold 32,691 shares of the business's stock in a transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Michael Duncan sold 20,000 shares of the company's stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $74.16, for a total transaction of $1,483,200.00. Following the completion of the transaction, the chief accounting officer owned 5,307 shares of the company's stock, valued at $393,567.12. This trade represents a 79.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 87,135 shares of company stock worth $6,541,139. 4.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TNL has been the subject of several recent research reports. Morgan Stanley boosted their price objective on Travel + Leisure from $83.00 to $85.00 and gave the company an "overweight" rating in a research report on Tuesday, August 18th. Weiss Ratings restated a "buy (b-)" rating on shares of Travel + Leisure in a report on Tuesday, July 21st. Zacks Research downgraded shares of Travel + Leisure from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 19th. Wells Fargo & Company upped their price target 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, Susquehanna began coverage on shares of Travel + Leisure in a report on Tuesday, August 18th. They set a "positive" rating and a $95.00 price target for the company. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $89.18.

About Travel + Leisure

Travel + Leisure Co NYSE: TNL is a hospitality and leisure company focused primarily on vacation ownership, membership, and travel services. The company develops, sells, and manages vacation ownership interests and related travel products through brands that include Club Wyndham, WorldMark by Wyndham, Margaritaville Vacation Club, and Travel + Leisure Co vacation ownership offerings.

The company also operates RCI, a vacation exchange network that enables members of affiliated vacation ownership programs to exchange accommodations in destinations around the world.

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