Travel + Leisure Co. (NYSE:TNL) Shares Sold by Algert Global LLC

Algert Global LLC decreased its holdings in Travel + Leisure Co. (NYSE:TNL) by 37.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118,730 shares of the company’s stock after selling 70,868 shares during the quarter. Algert Global LLC owned approximately 0.17% of Travel + Leisure worth $5,340,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Mackenzie Financial Corp increased its holdings in Travel + Leisure by 49.9% in the second quarter. Mackenzie Financial Corp now owns 9,932 shares of the company’s stock valued at $447,000 after buying an additional 3,307 shares during the last quarter. Millennium Management LLC increased its holdings in Travel + Leisure by 440.7% in the second quarter. Millennium Management LLC now owns 614,141 shares of the company’s stock valued at $27,624,000 after buying an additional 500,554 shares during the last quarter. Maverick Capital Ltd. increased its holdings in Travel + Leisure by 42.0% in the second quarter. Maverick Capital Ltd. now owns 32,292 shares of the company’s stock valued at $1,452,000 after buying an additional 9,558 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in Travel + Leisure in the second quarter valued at about $90,000. Finally, Point72 Hong Kong Ltd bought a new stake in Travel + Leisure in the second quarter valued at about $1,511,000. Institutional investors and hedge funds own 87.54% of the company’s stock.

Insiders Place Their Bets

In other Travel + Leisure news, Director George Herrera sold 2,193 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total value of $93,158.64. Following the completion of the sale, the director now directly owns 6,352 shares in the company, valued at $269,832.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Amandine Robin-Caplan sold 3,246 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $41.84, for a total transaction of $135,812.64. Following the completion of the sale, the insider now owns 24,491 shares in the company, valued at approximately $1,024,703.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George Herrera sold 2,193 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total value of $93,158.64. Following the sale, the director now owns 6,352 shares of the company’s stock, valued at approximately $269,832.96. The disclosure for this sale can be found here. 4.02% of the stock is currently owned by insiders.

Analyst Ratings Changes

TNL has been the subject of several recent research reports. JPMorgan Chase & Co. upped their target price on Travel + Leisure from $53.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, July 19th. The Goldman Sachs Group initiated coverage on Travel + Leisure in a report on Wednesday, September 18th. They set a “neutral” rating and a $44.00 target price for the company. Tigress Financial upped their target price on Travel + Leisure from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their target price on Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Finally, Truist Financial lowered their target price on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $54.33.

Travel + Leisure Trading Up 1.4 %

Shares of NYSE TNL opened at $46.59 on Monday. The stock has a 50 day simple moving average of $43.67 and a 200-day simple moving average of $44.71. The company has a market cap of $3.25 billion, a PE ratio of 8.58, a P/E/G ratio of 0.64 and a beta of 1.62. Travel + Leisure Co. has a 12-month low of $32.10 and a 12-month high of $49.91.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, July 24th. The company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The firm had revenue of $985.00 million during the quarter, compared to the consensus estimate of $987.20 million. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 11.35%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.33 earnings per share. Sell-side analysts forecast that Travel + Leisure Co. will post 5.67 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.00 dividend on an annualized basis and a yield of 4.29%. Travel + Leisure’s dividend payout ratio (DPR) is 36.83%.

About Travel + Leisure

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.