Insider Selling: Travel + Leisure (NYSE:TNL) Insider Sells 8,910 Shares of Stock

Key Points

• Insider sale: Michael Dean Brown sold 8,910 shares on April 14 at an average price of $79.02 for roughly $704,068 under a pre-arranged Rule 10b5-1 plan, trimming his stake to 487,303 shares (a 1.8% decrease); he also executed larger sales in February and an additional sale on April 15.
• Company context: TNL traded near $76.32 (down $2.13) with a market cap of about $4.76B and P/E of 22.32, recently raised its quarterly dividend to $0.60 (3.1% yield), and carries a consensus analyst rating of "Moderate Buy" with an average target of $85.90.

Travel + Leisure Co. (NYSE:TNL - Get Free Report) insider Michael Dean Brown sold 8,910 shares of the company's stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $79.02, for a total value of $704,068.20. Following the completion of the sale, the insider directly owned 487,303 shares of the company's stock, valued at approximately $38,506,683.06. This represents a 1.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 Wednesday, April 15th, Michael Dean Brown sold 2,612 shares of Travel + Leisure stock. The stock was sold at an average price of $79.00, for a total value of $206,348.00.
• On Tuesday, February 24th, Michael Dean Brown sold 25,938 shares of Travel + Leisure stock. The stock was sold at an average price of $74.85, for a total value of $1,941,459.30.
• On Monday, February 23rd, Michael Dean Brown sold 66,860 shares of Travel + Leisure stock. The stock was sold at an average price of $74.03, for a total value of $4,949,645.80.

Travel + Leisure Stock Performance

TNL traded down $2.13 during midday trading on Thursday, hitting $76.32. The stock had a trading volume of 375,386 shares, compared to its average volume of 635,188. The company has a market cap of $4.76 billion, a P/E ratio of 22.32, a price-to-earnings-growth ratio of 0.59 and a beta of 1.32. The business has a fifty day moving average of $72.58 and a 200 day moving average of $69.12. Travel + Leisure Co. has a 1 year low of $40.29 and a 1 year high of $81.00.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its earnings results on Wednesday, February 18th. The company reported $1.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.83. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1 billion. Travel + Leisure had a negative return on equity of 47.77% and a net margin of 5.74%.Travel + Leisure's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.72 earnings per share. On average, equities research analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 20th were paid a $0.60 dividend. This is an increase from Travel + Leisure's previous quarterly dividend of $0.56. This represents a $2.40 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, March 20th. Travel + Leisure's payout ratio is currently 70.38%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Wells Fargo & Company increased their price objective on Travel + Leisure from $81.00 to $88.00 and gave the company an "overweight" rating in a research note on Thursday, February 19th. Oppenheimer reaffirmed an "outperform" rating and issued a $85.00 target price on shares of Travel + Leisure in a research note on Wednesday, February 18th. Citigroup reaffirmed an "outperform" rating on shares of Travel + Leisure in a research note on Thursday, February 19th. Morgan Stanley lifted their target price on shares of Travel + Leisure from $68.00 to $80.00 and gave the stock an "overweight" rating in a research note on Friday, January 16th. Finally, Mizuho set a $107.00 target price on shares of Travel + Leisure in a research note on Thursday, February 19th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Travel + Leisure presently has an average rating of "Moderate Buy" and a consensus price target of $85.90.

Hedge Funds Weigh In On Travel + Leisure

A number of hedge funds and other institutional investors have recently made changes to their positions in TNL. Norges Bank bought a new position in shares of Travel + Leisure during the fourth quarter valued at approximately $62,162,000. AQR Capital Management LLC lifted its holdings in Travel + Leisure by 46.8% in the second quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company's stock valued at $138,449,000 after acquiring an additional 855,151 shares during the period. Truist Financial Corp bought a new position in Travel + Leisure in the third quarter valued at about $38,959,000. Jupiter Asset Management Ltd. raised its position in Travel + Leisure by 13,198.4% in the third quarter. Jupiter Asset Management Ltd. now owns 521,031 shares of the company's stock worth $30,996,000 after acquiring an additional 517,113 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Travel + Leisure by 231.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 691,599 shares of the company's stock worth $41,143,000 after acquiring an additional 482,731 shares during the last quarter. Institutional investors own 87.54% of the company's stock.

Travel + Leisure Company 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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