Iridian Asset Management LLC CT Sells 113,797 Shares of Travel + Leisure Co. (NYSE:TNL)

Iridian Asset Management LLC CT decreased its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 16.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 575,456 shares of the company's stock after selling 113,797 shares during the period. Travel + Leisure comprises approximately 4.1% of Iridian Asset Management LLC CT's holdings, making the stock its 4th biggest holding. Iridian Asset Management LLC CT owned about 0.79% of Travel + Leisure worth $22,495,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Penserra Capital Management LLC purchased a new stake in Travel + Leisure during the 1st quarter worth $31,000. Lazard Asset Management LLC bought a new stake in shares of Travel + Leisure in the 1st quarter worth about $34,000. Allworth Financial LP increased its position in shares of Travel + Leisure by 147.5% in the 4th quarter. Allworth Financial LP now owns 698 shares of the company's stock worth $27,000 after purchasing an additional 416 shares during the last quarter. Quent Capital LLC increased its position in shares of Travel + Leisure by 100.0% in the 3rd quarter. Quent Capital LLC now owns 1,176 shares of the company's stock worth $43,000 after purchasing an additional 588 shares during the last quarter. Finally, Arlington Trust Co LLC bought a new stake in shares of Travel + Leisure in the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 87.54% of the company's stock.

Insider Activity

In other Travel + Leisure news, Director George Herrera sold 2,969 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $45.33, for a total value of $134,584.77. Following the sale, the director now owns 2,193 shares of the company's stock, valued at approximately $99,408.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Travel + Leisure news, Director George Herrera sold 2,969 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $45.33, for a total value of $134,584.77. Following the sale, the director now owns 2,193 shares of the company's stock, valued at approximately $99,408.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider James J. Savina sold 6,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $47.00, for a total value of $282,000.00. Following the completion of the sale, the insider now directly owns 26,442 shares in the company, valued at approximately $1,242,774. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,922 shares of company stock valued at $1,318,358. Insiders own 2.84% of the company's stock.

Analysts Set New Price Targets

TNL has been the subject of several research analyst reports. Barclays boosted their target price on shares of Travel + Leisure from $37.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 22nd. Jefferies Financial Group raised shares of Travel + Leisure from a "hold" rating to a "buy" rating and boosted their target price for the stock from $37.00 to $57.00 in a research report on Tuesday, January 2nd. Mizuho started coverage on shares of Travel + Leisure in a research report on Tuesday, March 26th. They issued a "neutral" rating and a $55.00 target price for the company. Truist Financial boosted their price objective on shares of Travel + Leisure from $59.00 to $65.00 and gave the company a "buy" rating in a research report on Tuesday, March 5th. Finally, JMP Securities assumed coverage on shares of Travel + Leisure in a report on Tuesday, February 13th. They issued an "outperform" rating and a $50.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $53.63.

Travel + Leisure Stock Performance

Shares of NYSE TNL traded down $0.86 during mid-day trading on Wednesday, reaching $45.71. 573,053 shares of the company traded hands, compared to its average volume of 540,818. The stock has a market cap of $3.26 billion, a PE ratio of 8.59, a price-to-earnings-growth ratio of 1.27 and a beta of 1.63. The company's fifty day moving average is $44.66 and its two-hundred day moving average is $39.81. Travel + Leisure Co. has a fifty-two week low of $32.10 and a fifty-two week high of $49.02.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.61. The business had revenue of $935.00 million for the quarter, compared to analyst estimates of $946.56 million. Travel + Leisure had a negative return on equity of 43.77% and a net margin of 10.59%. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 EPS. Research analysts forecast that Travel + Leisure Co. will post 5.4 earnings per share for the current year.

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were issued a dividend of $0.50 per share. This is a positive change from Travel + Leisure's previous quarterly dividend of $0.45. The ex-dividend date was Wednesday, March 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.38%. Travel + Leisure's dividend payout ratio is currently 37.59%.

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.

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