QRG Capital Management Inc. Sells 7,016 Shares of Travel + Leisure Co. $TNL

QRG Capital Management Inc. cut its holdings in Travel + Leisure Co. (NYSE:TNL) by 41.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,732 shares of the company’s stock after selling 7,016 shares during the quarter. QRG Capital Management Inc.’s holdings in Travel + Leisure were worth $673,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TNL. Danske Bank A S purchased a new stake in shares of Travel + Leisure in the 3rd quarter worth approximately $30,000. N.E.W. Advisory Services LLC purchased a new position in Travel + Leisure during the fourth quarter valued at approximately $43,000. Geneos Wealth Management Inc. raised its stake in Travel + Leisure by 293.0% in the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock worth $44,000 after buying an additional 715 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Travel + Leisure by 27.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,241 shares of the company’s stock worth $88,000 after buying an additional 265 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Travel + Leisure by 17.8% during the fourth quarter. Signaturefd LLC now owns 1,276 shares of the company’s stock worth $90,000 after buying an additional 193 shares during the period. 87.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen cut Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Wells Fargo & Company reduced their price target on Travel + Leisure from $88.00 to $87.00 and set an “overweight” rating for the company in a research report on Thursday, April 23rd. The Goldman Sachs Group upgraded Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price objective for the company in a research note on Monday, June 1st. Morgan Stanley dropped their price objective on Travel + Leisure from $80.00 to $78.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 12th. Finally, Weiss Ratings upgraded Travel + Leisure from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, April 24th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $85.40.

Insider Buying and Selling

In other news, insider Kimberly Marshall sold 28,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $70.17, for a total transaction of $1,964,760.00. Following the sale, the insider owned 33,191 shares in the company, valued at approximately $2,329,012.47. The trade was a 45.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Denny Marie Post sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $63.83, for a total transaction of $159,575.00. Following the transaction, the director owned 1,977 shares in the company, valued at approximately $126,191.91. This trade represents a 55.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 53,074 shares of company stock valued at $3,907,122 in the last 90 days. 4.01% of the stock is owned by insiders.

Travel + Leisure Trading Up 1.6%

NYSE TNL opened at $73.89 on Friday. The firm’s fifty day simple moving average is $70.33 and its two-hundred day simple moving average is $71.54. The firm has a market capitalization of $4.61 billion, a P/E ratio of 20.76, a P/E/G ratio of 0.55 and a beta of 1.16. Travel + Leisure Co. has a 12-month low of $55.92 and a 12-month high of $81.00.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.31 by $0.14. The firm had revenue of $961.00 million during the quarter, compared to analyst estimates of $954.80 million. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 5.85%.The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.11 EPS. As a group, sell-side analysts predict that Travel + Leisure Co. will post 7.47 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, June 12th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 12th. Travel + Leisure’s dividend payout ratio is currently 67.42%.

Travel + Leisure 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.