Renaissance Technologies LLC Invests $959,000 in Travel + Leisure Co. (NYSE:TNL)

Renaissance Technologies LLC purchased a new stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 19,000 shares of the company's stock, valued at approximately $959,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new position in Travel + Leisure during the 4th quarter valued at about $25,000. Versant Capital Management Inc boosted its stake in shares of Travel + Leisure by 49.2% during the fourth quarter. Versant Capital Management Inc now owns 637 shares of the company's stock valued at $32,000 after purchasing an additional 210 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Travel + Leisure by 314.4% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company's stock valued at $33,000 after buying an additional 503 shares during the period. UMB Bank n.a. raised its stake in Travel + Leisure by 36.9% in the fourth quarter. UMB Bank n.a. now owns 757 shares of the company's stock worth $38,000 after buying an additional 204 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Travel + Leisure by 30.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 772 shares of the company's stock worth $39,000 after buying an additional 181 shares during the period. 87.54% of the stock is currently owned by institutional investors.

Travel + Leisure Trading Down 0.8 %

Shares of NYSE:TNL traded down $0.38 on Tuesday, hitting $46.53. 561,486 shares of the company were exchanged, compared to its average volume of 631,804. The firm has a market capitalization of $3.09 billion, a P/E ratio of 7.97, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $58.95. The stock's 50 day moving average price is $45.93 and its 200 day moving average price is $50.48.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, topping analysts' consensus estimates of $1.10 by $0.01. The company had revenue of $934.00 million during the quarter, compared to analysts' expectations of $933.08 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm's revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.97 EPS. On average, equities analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.56 dividend. The ex-dividend date was Monday, March 17th. This represents a $2.24 dividend on an annualized basis and a yield of 4.81%. This is a positive change from Travel + Leisure's previous quarterly dividend of $0.50. Travel + Leisure's dividend payout ratio is currently 37.40%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Tigress Financial increased their price target on shares of Travel + Leisure from $64.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Mizuho reaffirmed a "neutral" rating and issued a $64.00 price objective (up previously from $55.00) on shares of Travel + Leisure in a research report on Thursday, February 20th. Truist Financial increased their target price on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Finally, The Goldman Sachs Group cut their price target on shares of Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $59.20.

Insider Buying and Selling

In related news, Director George Herrera sold 6,336 shares of the firm's stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total transaction of $296,524.80. Following the sale, the director now directly owns 2,759 shares of the company's stock, valued at $129,121.20. This trade represents a 69.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Dean Brown purchased 2,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was bought at an average cost of $46.66 per share, with a total value of $93,320.00. Following the completion of the acquisition, the insider now directly owns 408,706 shares of the company's stock, valued at $19,070,221.96. This trade represents a 0.49 % increase in their position. The disclosure for this purchase can be found here. 3.75% of the stock is owned by corporate insiders.

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.