Summit Global Investments Buys 9,093 Shares of Travel + Leisure Co. (NYSE:TNL)

Summit Global Investments increased its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 98.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,375 shares of the company’s stock after purchasing an additional 9,093 shares during the quarter. Summit Global Investments’ holdings in Travel + Leisure were worth $927,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Smartleaf Asset Management LLC boosted its holdings in 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 during the last quarter. UMB Bank n.a. boosted its holdings in Travel + Leisure by 36.9% during the fourth quarter. UMB Bank n.a. now owns 757 shares of the company’s stock worth $38,000 after purchasing an additional 204 shares during the last quarter. Versant Capital Management Inc boosted its holdings in Travel + Leisure by 49.2% during the fourth quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock worth $32,000 after purchasing an additional 210 shares during the last quarter. Hourglass Capital LLC boosted its holdings in Travel + Leisure by 0.6% during the fourth quarter. Hourglass Capital LLC now owns 36,230 shares of the company’s stock worth $1,828,000 after purchasing an additional 230 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in Travel + Leisure by 2.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 8,944 shares of the company’s stock worth $451,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Travel + Leisure Price Performance

Shares of TNL opened at $47.12 on Monday. The firm has a market capitalization of $3.14 billion, a PE ratio of 8.07, a PEG ratio of 0.67 and a beta of 1.61. The company’s 50-day moving average is $53.37 and its 200-day moving average is $50.80. Travel + Leisure Co. has a fifty-two week low of $39.91 and a fifty-two week high of $58.95.

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

Travel + Leisure Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 4.75%. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, March 17th. Travel + Leisure’s dividend payout ratio (DPR) is currently 38.36%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

TNL has been the subject of a number of recent analyst reports. Bank of America upgraded shares of Travel + Leisure from an “underperform” rating to a “buy” rating and increased their price target for the company from $40.00 to $60.00 in a research note on Monday, January 27th. Mizuho reiterated a “neutral” rating and issued a $64.00 price target (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on shares of Travel + Leisure from $56.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. 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. Finally, Stifel Nicolaus increased their price target on shares of Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. 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, the company has a consensus rating of “Moderate Buy” and an average target price of $63.70.

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.