Insider Selling: Travel + Leisure (NYSE:TNL) Insider Sells $2,552,733.60 in Stock

Travel + Leisure Co. (NYSE:TNL) insider Geoffrey Richards sold 33,744 shares of the company’s stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the transaction, the insider owned 1,600 shares in the company, valued at $121,040. The trade was a 95.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Travel + Leisure Stock Performance

NYSE TNL traded up $1.78 during trading on Tuesday, hitting $78.09. The stock had a trading volume of 378,879 shares, compared to its average volume of 766,648. Travel + Leisure Co. has a one year low of $56.66 and a one year high of $81.00. The stock has a 50 day simple moving average of $72.81 and a 200 day simple moving average of $71.70. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 21.32, a P/E/G ratio of 0.56 and a beta of 1.16.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.88. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business earned $1.65 EPS. Travel + Leisure’s revenue was up 4.4% compared to the same quarter last year. On average, sell-side analysts predict that Travel + Leisure Co. will post 7.58 EPS for the current year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, June 12th. Travel + Leisure’s dividend payout ratio (DPR) is currently 65.57%.

Hedge Funds Weigh In On Travel + Leisure

Several institutional investors and hedge funds have recently added to or reduced their stakes in TNL. Norges Bank purchased a new stake in shares of Travel + Leisure during the fourth quarter valued at about $62,162,000. AQR Capital Management LLC grew its position in shares of Travel + Leisure by 46.8% in the 2nd quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock worth $138,449,000 after buying an additional 855,151 shares during the last quarter. Gotham Asset Management LLC grew its position in shares of Travel + Leisure by 139.2% in the 4th quarter. Gotham Asset Management LLC now owns 631,336 shares of the company’s stock worth $44,528,000 after buying an additional 367,356 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Travel + Leisure by 68.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 885,105 shares of the company’s stock worth $62,427,000 after acquiring an additional 359,186 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Travel + Leisure by 124.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 567,478 shares of the company’s stock valued at $40,024,000 after acquiring an additional 314,481 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on TNL shares. Wall Street Zen lowered shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Morgan Stanley raised their price objective on Travel + Leisure from $78.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Mizuho lifted their target price on Travel + Leisure from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Weiss Ratings restated a “buy (b-)” rating on shares of Travel + Leisure in a research note on Tuesday, July 21st. Finally, Zacks Research upgraded Travel + Leisure from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $86.90.

Travel + Leisure Company Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.