Walleye Capital LLC Has $2.48 Million Stock Holdings in Travel + Leisure Co. $TNL

Key Points

• Walleye Capital LLC increased its holdings in Travel + Leisure Co. by 59.1%, now owning 53,527 shares valued at $2.48 million.
• Several institutional investors raised their stakes in Travel + Leisure during the first quarter, with 87.54% of the company's stock owned by such entities.
• Travel + Leisure declared a quarterly dividend of $0.56 per share, representing a yield of 3.6% based on a $2.24 annualized dividend.

Walleye Capital LLC boosted its holdings in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 59.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 53,527 shares of the company's stock after purchasing an additional 19,881 shares during the period. Walleye Capital LLC owned about 0.08% of Travel + Leisure worth $2,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Elequin Capital LP bought a new position in Travel + Leisure during the first quarter worth about $30,000. UMB Bank n.a. lifted its stake in Travel + Leisure by 54.0% during 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 period. N.E.W. Advisory Services LLC bought a new position in Travel + Leisure during the first quarter worth about $54,000. Rossby Financial LCC bought a new position in Travel + Leisure during the first quarter worth about $55,000. Finally, Fifth Third Bancorp lifted its stake in Travel + Leisure by 61.5% during the first quarter. Fifth Third Bancorp now owns 1,873 shares of the company's stock worth $87,000 after purchasing an additional 713 shares during the period. Institutional investors own 87.54% of the company's stock.

Travel + Leisure Trading Up 0.9%

Shares of Travel + Leisure stock traded up $0.55 during midday trading on Monday, reaching $63.23. The company had a trading volume of 1,096,009 shares, compared to its average volume of 672,607. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 0.61 and a beta of 1.44. The stock has a fifty day simple moving average of $58.25 and a 200 day simple moving average of $51.72. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $63.52.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported $1.65 earnings per share for the quarter, missing analysts' consensus estimates of $1.66 by ($0.01). The company had revenue of $1.02 billion during the quarter, compared to analyst estimates 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 for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the business earned $1.52 EPS. Sell-side analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 yield of 3.5%. The ex-dividend date of this dividend is Friday, September 12th. Travel + Leisure's payout ratio is currently 38.62%.

Insider Activity

In other Travel + Leisure news, CAO Thomas Michael Duncan sold 8,201 shares of Travel + Leisure stock in a transaction on Thursday, July 24th. The shares were sold at an average price of $62.24, for a total transaction of $510,430.24. Following the completion of the sale, the chief accounting officer owned 20,000 shares of the company's stock, valued at approximately $1,244,800. The trade was a 29.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Geoffrey Richards sold 124,454 shares of Travel + Leisure stock in a transaction on Friday, July 25th. The stock was sold at an average price of $62.56, for a total transaction of $7,785,842.24. Following the sale, the insider directly owned 118,718 shares of the company's stock, valued at $7,426,998.08. This represents a 51.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 320,174 shares of company stock worth $19,765,874. Corporate insiders own 3.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TNL. 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 note on Thursday, July 24th. JMP Securities lifted their target price on shares of Travel + Leisure from $60.00 to $70.00 and gave the company a "market outperform" rating in a research note on Thursday, July 24th. Wall Street Zen cut shares of Travel + Leisure from a "buy" rating to a "hold" rating in a research note on Saturday, August 23rd. Finally, Mizuho upgraded shares of Travel + Leisure from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $63.00 to $72.00 in a research note on Thursday, July 24th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $62.30.

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.