Travel + Leisure Co. $TNL Shares Sold by Teza Capital Management LLC

Key Points

• Teza Capital Management LLC reduced its stake in Travel + Leisure Co. by 60.2%, now holding 8,455 shares valued at approximately $391,000.
• Several institutional investors, including Allspring Global Investments and Charles Schwab Investment Management, increased their holdings significantly, indicating a shift in investor sentiment.
• Travel + Leisure announced a quarterly dividend of $0.56, with a dividend yield of 3.6%, to be paid on September 30th.

Teza Capital Management LLC reduced its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 60.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,455 shares of the company's stock after selling 12,802 shares during the period. Teza Capital Management LLC's holdings in Travel + Leisure were worth $391,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Nuveen LLC bought a new position in shares of Travel + Leisure in the 1st quarter worth about $41,114,000. AQR Capital Management LLC lifted its position in shares of Travel + Leisure by 28.3% in the 1st quarter. AQR Capital Management LLC now owns 1,827,453 shares of the company's stock worth $83,241,000 after buying an additional 403,418 shares during the last quarter. LSV Asset Management lifted its position in shares of Travel + Leisure by 37.7% in the 1st quarter. LSV Asset Management now owns 956,109 shares of the company's stock worth $44,258,000 after buying an additional 261,528 shares during the last quarter. Millennium Management LLC lifted its position in shares of Travel + Leisure by 129.5% in the 1st quarter. Millennium Management LLC now owns 413,505 shares of the company's stock worth $19,141,000 after buying an additional 233,345 shares during the last quarter. Finally, Ranmore Fund Management Ltd lifted its position in shares of Travel + Leisure by 621.1% in the 1st quarter. Ranmore Fund Management Ltd now owns 255,000 shares of the company's stock worth $11,804,000 after buying an additional 219,637 shares during the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, CAO Thomas Michael Duncan sold 8,201 shares of the business's stock in a transaction dated Thursday, July 24th. The shares were 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. The trade was a 29.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director George Herrera sold 2,200 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $60.48, for a total transaction of $133,056.00. Following the sale, the director owned 559 shares in the company, valued at $33,808.32. This trade represents a 79.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 320,174 shares of company stock worth $19,765,874 in the last three months. Insiders own 3.75% of the company's stock.

Wall Street Analyst Weigh In

TNL has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Travel + Leisure from a "buy" rating to a "hold" rating in a research report on Saturday, August 23rd. Barclays raised their price target on shares of Travel + Leisure from $39.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, July 24th. Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and raised their price target for the stock from $63.00 to $72.00 in a research report on Thursday, July 24th. Finally, JMP Securities lifted their price objective on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research report on Thursday, July 24th. Eight 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, Travel + Leisure presently has an average rating of "Moderate Buy" and an average price target of $62.30.

Travel + Leisure Trading Down 2.2%

NYSE:TNL traded down $1.37 during mid-day trading on Friday, hitting $61.83. The stock had a trading volume of 605,275 shares, compared to its average volume of 607,806. The stock has a market capitalization of $4.01 billion, a price-to-earnings ratio of 10.66, a P/E/G ratio of 0.61 and a beta of 1.44. The company has a 50 day simple moving average of $60.21 and a 200-day simple moving average of $52.17. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $64.11.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported $1.65 earnings per share for the quarter, missing the consensus estimate of $1.66 by ($0.01). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $1.52 earnings per share. As a group, equities research 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 declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, September 12th. Travel + Leisure's payout ratio is 38.62%.

About Travel + Leisure

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.