Ionic Capital Management LLC Sells 60,387 Shares of Travel + Leisure Co. (NYSE:TNL)

Ionic Capital Management LLC cut its position in shares of Travel + Leisure Co. (NYSE:TNL) by 24.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 190,132 shares of the company’s stock after selling 60,387 shares during the quarter. Travel + Leisure accounts for 1.5% of Ionic Capital Management LLC’s portfolio, making the stock its 3rd largest position. Ionic Capital Management LLC owned about 0.28% of Travel + Leisure worth $8,761,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TNL. UMB Bank n.a. boosted its stake in shares of Travel + Leisure by 1,948.1% in the 3rd quarter. UMB Bank n.a. now owns 553 shares of the company’s stock valued at $25,000 after purchasing an additional 526 shares in the last quarter. Versant Capital Management Inc bought a new position in shares of Travel + Leisure during the second quarter worth approximately $27,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Travel + Leisure by 2,759.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock valued at $28,000 after purchasing an additional 607 shares in the last quarter. Family Firm Inc. acquired a new stake in shares of Travel + Leisure in the second quarter valued at about $31,000. Finally, Larson Financial Group LLC acquired a new stake in shares of Travel + Leisure in the 2nd quarter valued at about $36,000. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Amandine Robin-Caplan sold 3,246 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $41.84, for a total transaction of $135,812.64. Following the completion of the transaction, the insider now owns 24,491 shares of the company’s stock, valued at approximately $1,024,703.44. This represents a 11.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Stephen P. Holmes sold 80,000 shares of Travel + Leisure stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $47.55, for a total value of $3,804,000.00. Following the completion of the sale, the director now owns 362,947 shares of the company’s stock, valued at approximately $17,258,129.85. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,455 shares of company stock valued at $5,075,834. 4.02% of the stock is owned by company insiders.

Travel + Leisure Price Performance

TNL opened at $55.35 on Tuesday. The stock’s 50 day simple moving average is $49.41 and its 200 day simple moving average is $45.97. The firm has a market cap of $3.79 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 0.81 and a beta of 1.63. Travel + Leisure Co. has a 1 year low of $36.09 and a 1 year high of $56.91.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.08. The firm had revenue of $993.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The company’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 EPS. As a group, sell-side analysts anticipate that Travel + Leisure Co. will post 5.75 EPS for the current year.

Travel + Leisure Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Friday, December 13th. Travel + Leisure’s dividend payout ratio (DPR) is 33.96%.

Analyst Ratings Changes

Several research firms have weighed in on TNL. Stifel Nicolaus raised their price target on Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. The Goldman Sachs Group increased their price objective on shares of Travel + Leisure from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Tigress Financial upped their price objective on Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays raised their price target on shares of Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Finally, Truist Financial lifted their target price on Travel + Leisure from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.80.

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.