Travel + Leisure Co. $TNL Position Reduced by GMT Capital Corp

Key Points

• GMT Capital Corp has reduced its stake in Travel + Leisure Co. by 7.0%, owning approximately 2.47 million shares, making it the firm's third largest position.
• Travel + Leisure's stock is currently valued at $63.23, with a market capitalization of $4.11 billion and a P/E ratio of 10.90.
• The company announced a quarterly dividend of $0.56 per share, representing a 3.5% yield, set to be paid on September 30th.

GMT Capital Corp lessened its stake in Travel + Leisure Co. (NYSE:TNL - Free Report) by 7.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,473,541 shares of the company's stock after selling 185,800 shares during the period. Travel + Leisure accounts for about 6.1% of GMT Capital Corp's portfolio, making the stock its 3rd largest position. GMT Capital Corp owned 3.72% of Travel + Leisure worth $114,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in TNL. Elequin Capital LP bought a new stake in shares of Travel + Leisure in the 1st quarter valued at about $30,000. UMB Bank n.a. boosted its stake 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 purchasing an additional 409 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Travel + Leisure during the first quarter valued at approximately $54,000. Rossby Financial LCC bought a new position in shares of Travel + Leisure during the first quarter valued at approximately $55,000. Finally, Covestor Ltd boosted its stake in shares of Travel + Leisure by 785.8% during the first quarter. Covestor Ltd now owns 1,869 shares of the company's stock valued at $87,000 after purchasing an additional 1,658 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Stock Up 0.9%

Shares of Travel + Leisure stock opened at $63.23 on Friday. The firm has a market capitalization of $4.11 billion, a P/E ratio of 10.90, a PEG ratio of 0.60 and a beta of 1.43. The company has a 50 day moving average price of $58.25 and a 200 day moving average price of $51.78. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $63.52.

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

Travel + Leisure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, September 12th. Travel + Leisure's payout ratio is 38.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. Barclays raised their price target on shares of Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a report on Thursday, July 24th. Wall Street Zen cut shares of Travel + Leisure from a "buy" rating to a "hold" rating in a report on Saturday, August 23rd. Finally, JMP Securities raised their price target 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. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $62.30.

Insider Activity

In related news, insider Jeffrey Myers sold 110,885 shares of Travel + Leisure stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $62.33, for a total value of $6,911,462.05. Following the sale, the insider owned 142,553 shares of the company's stock, valued at approximately $8,885,328.49. This trade represents a 43.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Michael Duncan sold 8,201 shares of Travel + Leisure stock in a transaction on Thursday, July 24th. The stock was sold at an average price of $62.24, for a total transaction of $510,430.24. Following the sale, the chief accounting officer directly owned 20,000 shares in the company, valued at approximately $1,244,800. This trade represents a 29.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 320,174 shares of company stock worth $19,765,874. 3.75% of the stock is currently owned by corporate insiders.

Travel + Leisure 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.

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