Tudor Investment Corp ET AL Purchases New Stake in Travel + Leisure Co. $TNL

Key Points

• Tudor Investment Corp ET AL bought 107,652 shares of Travel + Leisure (NYSE:TNL) in the third quarter, a stake worth about $6.4 million and roughly 0.17% of the company, while institutional investors own about 87.54% of the stock.
• Analyst sentiment has turned positive with multiple price-target raises (e.g., Goldman to $81, Citizens Jmp to $90, Wells Fargo to $88), leaving a MarketBeat consensus of Moderate Buy and a $85.90 target.
• Travel + Leisure raised its quarterly dividend to $0.60 ($2.40 annualized, ~3.4% yield) and reported Q results with EPS of $1.83 (in line) and revenue of $1.03B, up 5.7% year-over-year.

Tudor Investment Corp ET AL bought a new stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 107,652 shares of the company's stock, valued at approximately $6,404,000. Tudor Investment Corp ET AL owned about 0.17% of Travel + Leisure at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Royal Bank of Canada raised its stake in Travel + Leisure by 42.0% during the first quarter. Royal Bank of Canada now owns 91,184 shares of the company's stock worth $4,222,000 after acquiring an additional 26,965 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Travel + Leisure in the first quarter valued at approximately $396,000. Millennium Management LLC grew its holdings in shares of Travel + Leisure by 129.5% during the first quarter. Millennium Management LLC now owns 413,505 shares of the company's stock valued at $19,141,000 after purchasing an additional 233,345 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of 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 purchasing an additional 98,647 shares during the period. Finally, United Services Automobile Association acquired a new stake in shares of Travel + Leisure during the 1st quarter worth approximately $206,000. 87.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TNL has been the subject of several recent research reports. The Goldman Sachs Group upped their price target on shares of Travel + Leisure from $71.00 to $81.00 and gave the stock a "neutral" rating in a research report on Thursday, February 19th. Citigroup reissued an "outperform" rating on shares of Travel + Leisure in a research note on Thursday, February 19th. Stifel Nicolaus set a $89.00 target price on shares of Travel + Leisure in a research report on Wednesday, February 18th. Citizens Jmp raised their price target on shares of Travel + Leisure from $80.00 to $90.00 and gave the company a "market outperform" rating in a research note on Thursday, February 19th. Finally, Wells Fargo & Company lifted their price target on Travel + Leisure from $81.00 to $88.00 and gave the company an "overweight" rating in a report on Thursday, February 19th. Eight research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Travel + Leisure currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.90.

Insider Buying and Selling at Travel + Leisure

In other news, insider Michael Dean Brown sold 66,860 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $74.03, for a total transaction of $4,949,645.80. Following the completion of the sale, the insider owned 427,821 shares in the company, valued at approximately $31,671,588.63. This represents a 13.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George Herrera sold 1,748 shares of the firm's stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $70.31, for a total value of $122,901.88. Following the sale, the director directly owned 1,853 shares of the company's stock, valued at approximately $130,284.43. This represents a 48.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 99,664 shares of company stock valued at $7,390,847. Corporate insiders own 3.75% of the company's stock.

Travel + Leisure Trading Down 0.4%

Shares of NYSE TNL opened at $70.68 on Wednesday. Travel + Leisure Co. has a twelve month low of $37.77 and a twelve month high of $81.00. The firm has a 50-day moving average of $72.07 and a two-hundred day moving average of $67.90. The company has a market capitalization of $4.41 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 0.54 and a beta of 1.32.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $1.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.83. Travel + Leisure had a net margin of 5.74% and a negative return on equity of 47.77%. The company had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1 billion. During the same quarter in the previous year, the company posted $1.72 EPS. The business's revenue was up 5.7% compared to the same quarter last year. As a group, research analysts predict that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 20th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.4%. This is a positive change from Travel + Leisure's previous quarterly dividend of $0.56. The ex-dividend date is Friday, March 20th. Travel + Leisure's dividend payout ratio (DPR) is presently 70.38%.

Travel + Leisure 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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