Allspring Global Investments Holdings LLC increased its stake in Travel + Leisure Co. (NYSE:TNL – Get Rating) by 26.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,566 shares of the company’s stock after purchasing an additional 5,606 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Travel + Leisure were worth $906,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Yousif Capital Management LLC grew its holdings in shares of Travel + Leisure by 4.8% during the second quarter. Yousif Capital Management LLC now owns 50,129 shares of the company’s stock valued at $1,946,000 after buying an additional 2,310 shares during the last quarter. Northern Trust Corp grew its stake in Travel + Leisure by 31.7% during the 2nd quarter. Northern Trust Corp now owns 1,052,660 shares of the company’s stock valued at $40,864,000 after purchasing an additional 253,637 shares during the last quarter. Iridian Asset Management LLC CT increased its holdings in shares of Travel + Leisure by 4.6% in the second quarter. Iridian Asset Management LLC CT now owns 1,267,456 shares of the company’s stock valued at $49,203,000 after purchasing an additional 55,506 shares during the period. Fieldpoint Private Securities LLC raised its stake in shares of Travel + Leisure by 43.2% in the second quarter. Fieldpoint Private Securities LLC now owns 995 shares of the company’s stock worth $39,000 after purchasing an additional 300 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Travel + Leisure during the second quarter worth about $446,000. Hedge funds and other institutional investors own 88.54% of the company’s stock.
Insider Transactions at Travel + Leisure
In related news, Director George Herrera sold 882 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $38.58, for a total value of $34,027.56. Following the transaction, the director now directly owns 40,320 shares of the company’s stock, valued at approximately $1,555,545.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.07% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Credit Suisse Group lowered shares of Travel + Leisure from an “outperform” rating to an “underperform” rating in a research report on Friday, October 28th. Deutsche Bank Aktiengesellschaft cut their price target on Travel + Leisure from $69.00 to $62.00 in a research report on Friday, October 28th. Truist Financial reduced their price objective on Travel + Leisure from $72.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, November 15th. Finally, Barclays dropped their target price on Travel + Leisure to $43.00 in a report on Tuesday, November 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Travel + Leisure presently has a consensus rating of “Hold” and an average target price of $61.00.
Travel + Leisure Stock Up 3.9 %
TNL stock opened at $41.98 on Friday. Travel + Leisure Co. has a 52-week low of $33.57 and a 52-week high of $63.19. The firm has a market cap of $3.41 billion, a P/E ratio of 9.65 and a beta of 1.65. The company’s 50-day simple moving average is $37.86 and its 200-day simple moving average is $39.77.
Travel + Leisure (NYSE:TNL – Get Rating) last issued its quarterly earnings data on Thursday, October 27th. The company reported $1.28 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.01). The business had revenue of $937.00 million during the quarter, compared to analyst estimates of $943.06 million. Travel + Leisure had a net margin of 10.57% and a negative return on equity of 45.32%. On average, analysts anticipate that Travel + Leisure Co. will post 4.44 earnings per share for the current fiscal year.
Travel + Leisure Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Thursday, December 15th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.81%. The ex-dividend date was Wednesday, December 14th. Travel + Leisure’s payout ratio is 36.78%.
About Travel + Leisure
Travel + Leisure Co, together with its subsidiaries, provides hospitality services and 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; provides consumer financing in connection with the sale of VOIs; and provides property management services at resorts.
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