Versor Investments LP Invests $514,000 in Travel + Leisure Co. $TNL

Key Points

• Versor Investments LP has acquired a new stake of 11,100 shares in Travel + Leisure Co. for approximately $514,000 during the first quarter.
• Travel + Leisure has seen significant increases in ownership by institutional investors, with 87.54% of the stock held by hedge funds and other institutions.
• The company announced a quarterly dividend of $0.56 per share, representing a 3.7% yield, to be paid to investors on September 30th.

Versor Investments LP purchased a new stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,100 shares of the company's stock, valued at approximately $514,000.

A number of other large investors have also added to or reduced their stakes in TNL. Natixis purchased a new stake in Travel + Leisure during the fourth quarter valued at about $37,000. UMB Bank n.a. lifted its stake in Travel + Leisure by 54.0% in the first quarter. UMB Bank n.a. now owns 1,166 shares of the company's stock worth $54,000 after purchasing an additional 409 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in Travel + Leisure in the first quarter worth $54,000. Rossby Financial LCC bought a new stake in Travel + Leisure in the first quarter worth $55,000. Finally, Canada Pension Plan Investment Board lifted its stake in Travel + Leisure by 333.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 1,300 shares of the company's stock worth $66,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Insider Activity

In other news, Director George Herrera sold 2,200 shares of the business's stock in a transaction on Tuesday, August 12th. The shares were 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 approximately $33,808.32. The trade was a 79.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey Myers sold 110,885 shares of the business's stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $62.33, for a total transaction of $6,911,462.05. Following the sale, the insider owned 142,553 shares in the company, valued at approximately $8,885,328.49. This trade represents a 43.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 320,174 shares of company stock worth $19,765,874. 3.75% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on TNL shares. JMP Securities boosted their price target on shares of Travel + Leisure from $60.00 to $70.00 and gave the stock a "market outperform" rating in a research note on Thursday, July 24th. Barclays increased their price target on shares of Travel + Leisure from $39.00 to $54.00 and gave the company an "underweight" rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of Travel + Leisure from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Finally, Mizuho raised shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and increased their price target for the company from $63.00 to $72.00 in a research report on Thursday, July 24th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $62.30.

Travel + Leisure Price Performance

NYSE:TNL traded up $3.1080 during trading hours on Friday, hitting $62.3680. The company had a trading volume of 945,786 shares, compared to its average volume of 706,994. The company has a market capitalization of $4.05 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 0.57 and a beta of 1.43. The stock has a 50-day moving average price of $56.91 and a 200 day moving average price of $51.55. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $63.31.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings results 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 company 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 business's revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.52 EPS. Analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The firm 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 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%.

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.