Travel + Leisure Co. $TNL Shares Sold by GMT Capital Corp

Key Points

• GMT Capital Corp reduced its stake in Travel + Leisure by 19.5% in the fourth quarter, selling 337,400 shares. The fund still holds 1,395,541 shares, or about 2.17% of the company, valued at roughly $98.4 million.
• Travel + Leisure reported quarterly EPS of $1.45, topping analyst expectations of $1.31, while revenue rose 2.9% year over year to $961 million. The company also raised attention from analysts, with consensus sentiment at Moderate Buy and an average target price of $85.40.
• The company announced a quarterly dividend of $0.60 per share, payable June 30, which annualizes to $2.40 per share and a 3.2% yield. Meanwhile, insiders have been selling shares, including notable sales by Director Denny Marie Post and insider Kimberly Marshall.

GMT Capital Corp cut its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 19.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,395,541 shares of the company's stock after selling 337,400 shares during the period. Travel + Leisure makes up 5.1% of GMT Capital Corp's holdings, making the stock its 7th biggest holding. GMT Capital Corp owned approximately 2.17% of Travel + Leisure worth $98,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Travel + Leisure by 15.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 354,598 shares of the company's stock worth $21,096,000 after buying an additional 47,170 shares during the period. Compass Wealth Management LLC purchased a new stake in Travel + Leisure during the 3rd quarter worth approximately $1,707,000. SG Americas Securities LLC purchased a new stake in Travel + Leisure during the 4th quarter worth approximately $11,657,000. Caprock Group LLC purchased a new stake in Travel + Leisure during the 3rd quarter worth approximately $1,776,000. Finally, Elo Mutual Pension Insurance Co purchased a new stake in Travel + Leisure during the 3rd quarter worth approximately $1,563,000. 87.54% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Denny Marie Post sold 2,500 shares of the company's stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $63.83, for a total value of $159,575.00. Following the completion of the transaction, the director owned 1,977 shares in the company, valued at approximately $126,191.91. This represents a 55.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kimberly Marshall sold 28,000 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $70.17, for a total transaction of $1,964,760.00. Following the completion of the transaction, the insider owned 33,191 shares of the company's stock, valued at approximately $2,329,012.47. The trade was a 45.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 55,536 shares of company stock worth $4,078,007. 4.01% of the stock is currently owned by company insiders.

Travel + Leisure Trading Up 0.8%

Shares of Travel + Leisure stock opened at $74.21 on Friday. The company has a fifty day simple moving average of $69.14 and a 200-day simple moving average of $70.66. Travel + Leisure Co. has a 12-month low of $47.61 and a 12-month high of $81.00. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 20.84, a PEG ratio of 0.57 and a beta of 1.17.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.14. Travel + Leisure had a net margin of 5.85% and a negative return on equity of 48.06%. The business had revenue of $961.00 million during the quarter, compared to analysts' expectations of $954.81 million. During the same quarter in the prior year, the business posted $1.11 EPS. The company's revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts forecast that Travel + Leisure Co. will post 7.46 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th will be issued a $0.60 dividend. The ex-dividend date is Friday, June 12th. This represents a $2.40 annualized dividend and a dividend yield of 3.2%. Travel + Leisure's dividend payout ratio is presently 67.42%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $90.00 target price on shares of Travel + Leisure in a research note on Friday, February 20th. Oppenheimer reaffirmed an "outperform" rating and set a $85.00 target price on shares of Travel + Leisure in a research note on Wednesday, February 18th. Mizuho cut their target price on shares of Travel + Leisure from $107.00 to $105.00 and set an "outperform" rating on the stock in a research note on Thursday, April 23rd. Barclays cut their target price on shares of Travel + Leisure from $78.00 to $74.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 23rd. Finally, Stifel Nicolaus set a $89.00 price target on shares of Travel + Leisure in a report on Wednesday, February 18th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Travel + Leisure has a consensus rating of "Moderate Buy" and an average target price of $85.40.

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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