Wittenberg Investment Management Inc. Decreases Stock Position in Travel + Leisure Co. (NYSE:TNL)

Wittenberg Investment Management Inc. decreased its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 8.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 5,773 shares of the company’s stock after selling 500 shares during the period. Wittenberg Investment Management Inc.’s holdings in Travel + Leisure were worth $291,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TNL. Jones Financial Companies Lllp purchased a new stake in shares of Travel + Leisure during the fourth quarter worth approximately $25,000. Versant Capital Management Inc grew its holdings in Travel + Leisure by 49.2% during the 4th quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock worth $32,000 after acquiring an additional 210 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its position in shares of Travel + Leisure by 314.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock valued at $33,000 after purchasing an additional 503 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Travel + Leisure by 36.9% in the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock valued at $38,000 after purchasing an additional 204 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of 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 purchasing an additional 181 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Travel + Leisure Price Performance

Shares of NYSE:TNL opened at $42.82 on Friday. Travel + Leisure Co. has a 1-year low of $39.91 and a 1-year high of $58.95. The stock has a market cap of $2.86 billion, a P/E ratio of 7.33, a P/E/G ratio of 0.67 and a beta of 1.61. The firm has a fifty day moving average price of $52.41 and a 200 day moving average price of $50.97.

Travel + Leisure (NYSE:TNL) last announced its earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.68 by $0.04. The business had revenue of $971.00 million during the quarter, compared to the consensus estimate of $958.87 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.98 earnings per share. Sell-side analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were issued a $0.56 dividend. The ex-dividend date was Monday, March 17th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 5.23%. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. Travel + Leisure’s payout ratio is presently 38.36%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Tigress Financial lifted their price target on Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Bank of America upgraded Travel + Leisure from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $40.00 to $60.00 in a research note on Monday, January 27th. Truist Financial increased their price target on shares of Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Morgan Stanley assumed coverage on shares of Travel + Leisure in a research report on Monday, January 6th. They set an “overweight” rating and a $67.00 price objective for the company. Finally, Barclays increased their target price on shares of Travel + Leisure from $48.00 to $54.00 and gave the company an “underweight” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Travel + Leisure has an average rating of “Moderate Buy” and an average target price of $63.70.

Insider Transactions at Travel + Leisure

In other news, insider Michael Dean Brown acquired 2,000 shares of the company’s stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $46.66 per share, with a total value of $93,320.00. Following the purchase, the insider now owns 408,706 shares of the company’s stock, valued at $19,070,221.96. This represents a 0.49 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director George Herrera sold 6,336 shares of the firm’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total transaction of $296,524.80. Following the completion of the sale, the director now owns 2,759 shares of the company’s stock, valued at $129,121.20. This trade represents a 69.66 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.02% of the company’s stock.

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.