Renaissance Technologies LLC Buys Shares of 19,000 Travel + Leisure Co. (NYSE:TNL)

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

Several other large investors have also recently bought and sold shares of TNL. Invesco Ltd. raised its holdings in Travel + Leisure by 4.8% during the fourth quarter. Invesco Ltd. now owns 3,544,548 shares of the company's stock worth $178,822,000 after purchasing an additional 163,804 shares during the last quarter. Ranmore Fund Management Ltd acquired a new stake in Travel + Leisure in the 4th quarter valued at about $1,784,000. Cerity Partners LLC lifted its holdings in shares of Travel + Leisure by 1.0% in the fourth quarter. Cerity Partners LLC now owns 19,549 shares of the company's stock valued at $986,000 after purchasing an additional 200 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Travel + Leisure by 21.0% during the 4th quarter. Federated Hermes Inc. now owns 9,432 shares of the company's stock worth $476,000 after purchasing an additional 1,637 shares in the last quarter. Finally, Aristides Capital LLC increased its stake in shares of Travel + Leisure by 21.3% during the 4th quarter. Aristides Capital LLC now owns 6,268 shares of the company's stock worth $316,000 after purchasing an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 87.54% of the company's stock.

Travel + Leisure Price Performance

NYSE TNL traded up $2.32 during trading hours on Friday, hitting $47.26. The company had a trading volume of 729,231 shares, compared to its average volume of 631,798. The firm's 50 day moving average is $46.30 and its 200 day moving average is $50.49. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $58.95. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 8.09, a P/E/G ratio of 0.67 and a beta of 1.40.

Travel + Leisure (NYSE:TNL - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.10 by $0.01. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The business had revenue of $934.00 million for the quarter, compared to the consensus estimate of $933.08 million. During the same period last year, the business posted $0.97 EPS. The company's revenue was up 2.0% on a year-over-year basis. On average, equities analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.56 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.24 dividend on an annualized basis and a yield of 4.74%. This is a positive change from Travel + Leisure's previous quarterly dividend of $0.50. Travel + Leisure's payout ratio is currently 37.40%.

Insider Activity

In other Travel + Leisure news, insider Michael Dean Brown acquired 2,000 shares of the stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the purchase, the insider now directly owns 408,706 shares in the company, valued at $19,070,221.96. This trade represents a 0.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George Herrera sold 6,336 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the completion of the transaction, the director now directly owns 2,759 shares in the company, valued at approximately $129,121.20. The trade was a 69.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.75% of the company's stock.

Analysts Set New Price Targets

TNL has been the topic of a number of analyst reports. Morgan Stanley decreased their price objective on Travel + Leisure from $61.00 to $52.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. Bank of America raised shares of Travel + Leisure from an "underperform" rating to a "buy" rating and upped their price objective for the company from $40.00 to $60.00 in a research note on Monday, January 27th. The Goldman Sachs Group cut their price target on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Barclays lowered their price objective on Travel + Leisure from $54.00 to $39.00 and set an "underweight" rating for the company in a research report on Thursday, April 24th. Finally, Truist Financial increased their target price on Travel + Leisure from $61.00 to $72.00 and gave the stock a "buy" rating in a research report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Travel + Leisure has a consensus rating of "Moderate Buy" and an average target price of $59.20.

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.