Insider Selling: Travel + Leisure (NYSE:TNL) Insider Sells 4,033 Shares of Company Stock

Key Points

• Insider Michael Brown sold 4,033 Travel + Leisure shares for about $318,688 at an average price of $79.02 under a pre-arranged Rule 10b5-1 plan. He retained 487,303 shares; the article also reports a separate sale of 15,943 shares the following day.
• Travel + Leisure beat quarterly expectations, reporting EPS of $2.21 versus a $2.05 consensus and revenue of $1.10 billion, up 5.5% year over year.
• The company declared a quarterly dividend of $0.60 per share, equivalent to $2.40 annually and a 3.1% yield. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $85.25.

Travel + Leisure Co. (NYSE:TNL - Get Free Report) insider Michael Brown sold 4,033 shares of the firm's stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $79.02, for a total transaction of $318,687.66. Following the completion of the transaction, the insider owned 487,303 shares in the company, valued at approximately $38,506,683.06. The trade was a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, November 10th, Michael Brown sold 15,943 shares of Travel + Leisure stock. The shares were sold at an average price of $79.81, for a total transaction of $1,272,410.83.

Travel + Leisure Trading Down 2.1%

TNL traded down $1.67 on Thursday, hitting $78.38. 268,784 shares of the company's stock were exchanged, compared to its average volume of 764,456. The firm has a market cap of $4.72 billion, a PE ratio of 21.07, a P/E/G ratio of 0.79 and a beta of 1.21. Travel + Leisure Co. has a twelve month low of $60.34 and a twelve month high of $81.00. The stock has a fifty day moving average of $66.79 and a two-hundred day moving average of $70.69.

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

Travel + Leisure Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Travel + Leisure from $70.00 to $72.00 and gave the company a "neutral" rating in a research note on Wednesday, October 28th. Zacks Research upgraded shares of Travel + Leisure from a "strong sell" rating to a "hold" rating in a research note on Tuesday, November 3rd. The Goldman Sachs Group cut their price target on Travel + Leisure from $87.00 to $78.00 and set a "buy" rating on the stock in a report on Thursday, October 15th. Mizuho set a $108.00 price target on Travel + Leisure in a report on Wednesday, October 28th. Finally, Truist Financial reduced their price objective on Travel + Leisure from $88.00 to $86.00 and set a "buy" rating for the company in a research report on Thursday, September 10th. Ten investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $85.25.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TNL. Advisors Asset Management Inc. acquired a new position in Travel + Leisure during the 3rd quarter valued at about $26,817,000. GW&K Investment Management LLC lifted its stake in shares of Travel + Leisure by 38.7% in the 3rd quarter. GW&K Investment Management LLC now owns 46,197 shares of the company's stock worth $2,858,000 after acquiring an additional 12,878 shares during the period. Private Wealth Asset Management LLC acquired a new stake in shares of Travel + Leisure in the 3rd quarter worth approximately $231,000. Private Advisor Group LLC lifted its stake in shares of Travel + Leisure by 290.1% in the 3rd quarter. Private Advisor Group LLC now owns 18,173 shares of the company's stock worth $1,124,000 after acquiring an additional 13,515 shares during the period. Finally, Edgestream Partners L.P. bought a new position in shares of Travel + Leisure in the third quarter valued at approximately $11,761,000. 87.54% of the stock is owned by institutional investors and hedge funds.

Travel + Leisure Company Profile

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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