Insider Selling: Travel + Leisure (NYSE:TNL) Insider Sells $1,272,410.83 in Stock

Key Points

• Insider Michael Brown sold 15,943 Travel + Leisure shares for about $1.27 million at an average $79.81, under a pre-arranged Rule 10b5-1 plan. He retained 487,303 shares after the sale; he also sold 4,033 shares the prior day.
• Travel + Leisure reported quarterly EPS of $2.21, beating analyst estimates of $2.05, while revenue rose 5.5% year over year to $1.10 billion. The company announced a quarterly dividend of $0.60 per share, equivalent to a 3.1% yield at the reported share price.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $85.25. Shares traded down 2.1% to $78.38 in Thursday’s mid-day session.

Travel + Leisure Co. (NYSE:TNL - Get Free Report) insider Michael Brown sold 15,943 shares of the company's stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $79.81, for a total transaction of $1,272,410.83. Following the completion of the sale, the insider directly owned 487,303 shares in the company, valued at approximately $38,891,652.43. The trade was a 3.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Dean Brown also recently made the following trade(s):

• On Monday, November 9th, Michael Brown sold 4,033 shares of Travel + Leisure stock. The shares were sold at an average price of $79.02, for a total transaction of $318,687.66.

Travel + Leisure Stock Down 2.1%

Shares of TNL stock traded down $1.67 during mid-day trading on Thursday, hitting $78.38. 268,784 shares of the stock were exchanged, compared to its average volume of 764,456. The firm has a fifty day moving average of $66.79 and a 200 day moving average of $70.69. Travel + Leisure Co. has a 52-week low of $60.34 and a 52-week high of $81.00. The company has a market cap of $4.72 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 0.79 and a beta of 1.21.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its earnings results on Tuesday, October 27th. The company reported $2.21 EPS for the quarter, topping analysts' consensus estimates of $2.05 by $0.16. Travel + Leisure had a net margin of 5.66% and a negative return on equity of 46.63%. The business had revenue of $1.10 billion during the quarter, compared to analysts' expectations of $1.08 billion. During the same quarter in the previous year, the company earned $1.80 earnings per share. The company's quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts predict that Travel + Leisure Co. will post 7.77 EPS for the current year.

Travel + Leisure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, December 11th. Travel + Leisure's dividend payout ratio (DPR) is 64.52%.

Institutional Investors Weigh In On Travel + Leisure

Several hedge funds and other institutional investors have recently made changes to their positions in TNL. Bank of America Corp DE acquired a new stake in Travel + Leisure during the 2nd quarter worth $19,663,000. Allianz Asset Management GmbH grew its holdings in shares of Travel + Leisure by 3,677.9% during the second quarter. Allianz Asset Management GmbH now owns 301,478 shares of the company's stock worth $23,042,000 after purchasing an additional 293,498 shares during the last quarter. Kendall Capital Management acquired a new stake in shares of Travel + Leisure during the second quarter worth about $3,409,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Travel + Leisure during the second quarter worth about $1,416,000. Finally, Deutsche Bank AG purchased a new stake in shares of Travel + Leisure in the 2nd quarter valued at about $7,399,000. Institutional investors and hedge funds own 87.54% of the company's stock.

Wall Street Analysts Forecast Growth

TNL has been the subject of a number of research reports. Mizuho set a $108.00 price objective on Travel + Leisure in a research note on Wednesday, October 28th. JPMorgan Chase & Co. lifted their target price on Travel + Leisure from $70.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, October 28th. The Goldman Sachs Group cut their price target on shares of Travel + Leisure from $87.00 to $78.00 and set a "buy" rating on the stock in a research note on Thursday, October 15th. Weiss Ratings cut shares of Travel + Leisure from a "buy (b-)" rating to a "hold (c)" rating in a research report on Tuesday, November 3rd. Finally, Stifel Nicolaus set a $91.00 price objective on shares of Travel + Leisure in a report on Tuesday, October 27th. Ten research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $85.25.

About Travel + Leisure

Travel + Leisure Co. is a leisure travel company focused on vacation ownership, vacation exchange and travel membership services. Its vacation ownership business develops, markets and manages resort-based vacation ownership interests and related products through brands including Club Wyndham, WorldMark and Margaritaville Vacation Club. The company also operates RCI, a vacation exchange network that enables members of affiliated vacation ownership programs to exchange their stays. Its travel and membership offerings include services designed to help members plan and book vacations.

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