LSV Asset Management Grows Stake in Travel + Leisure Co. (NYSE:TNL)

Key Points

• LSV Asset Management increased its stake in Travel + Leisure Co. by 37.7% in the first quarter, now holding 1.44% of the company valued at approximately $44.26 million.
• Insider transactions show notable selling activity, with CEO Jeffrey Myers selling 110,885 shares valued at $6.91 million, reducing his ownership by 43.75%.
• Travel + Leisure reported a Q2 EPS of $1.65, missing estimates, while revenues increased by 3.4% year over year, reaching $1.02 billion.

LSV Asset Management lifted its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 37.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 956,109 shares of the company's stock after purchasing an additional 261,528 shares during the quarter. LSV Asset Management owned 1.44% of Travel + Leisure worth $44,258,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TNL. Cerity Partners LLC increased its position in Travel + Leisure by 1.0% in the fourth quarter. Cerity Partners LLC now owns 19,549 shares of the company's stock worth $986,000 after buying an additional 200 shares in the last quarter. Capital Analysts LLC increased its position in shares of Travel + Leisure by 16.8% during the fourth quarter. Capital Analysts LLC now owns 1,576 shares of the company's stock worth $80,000 after acquiring an additional 227 shares during the period. KBC Group NV lifted its holdings in Travel + Leisure by 8.1% during the first quarter. KBC Group NV now owns 3,128 shares of the company's stock worth $145,000 after buying an additional 235 shares during the period. Cetera Investment Advisers grew its holdings in Travel + Leisure by 3.0% in the first quarter. Cetera Investment Advisers now owns 10,789 shares of the company's stock worth $499,000 after purchasing an additional 317 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Travel + Leisure by 54.0% during 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. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Trading Down 0.7%

Shares of TNL stock traded down $0.42 on Thursday, reaching $59.08. The company had a trading volume of 394,185 shares, compared to its average volume of 701,630. The stock has a market cap of $3.84 billion, a PE ratio of 10.19, a PEG ratio of 0.57 and a beta of 1.43. The company has a 50-day moving average of $54.34 and a 200-day moving average of $51.06. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $63.31.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.01). The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Travel + Leisure had a net margin of 10.14% and a negative return on equity of 47.47%. The company's revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 EPS. Sell-side analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Friday, June 13th. Travel + Leisure's dividend payout ratio (DPR) is currently 38.62%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports 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. Wall Street Zen raised shares of Travel + Leisure from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Mizuho raised Travel + Leisure from a "neutral" rating to an "outperform" rating and boosted their target price for the company from $63.00 to $72.00 in a report on Thursday, July 24th. The Goldman Sachs Group reduced their price target on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Finally, JMP Securities upped their target price on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a report on Thursday, July 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Travel + Leisure presently has an average rating of "Moderate Buy" and an average price target of $62.30.

Insider Buying and Selling

In other news, insider Geoffrey Richards sold 124,454 shares of the firm's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $62.56, for a total value of $7,785,842.24. Following the completion of the transaction, the insider directly owned 118,718 shares of the company's stock, valued at $7,426,998.08. This trade represents a 51.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey Myers sold 110,885 shares of the business's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the completion of the transaction, the insider directly owned 142,553 shares of the company's stock, valued at approximately $8,885,328.49. This represents a 43.75% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 323,474 shares of company stock valued at $19,908,918. 3.75% of the stock is currently owned by company insiders.

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.