Pallas Capital Advisors LLC Buys Shares of 9,342 Travel + Leisure Co. $TNL

Pallas Capital Advisors LLC bought a new position in Travel + Leisure Co. (NYSE:TNL) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 9,342 shares of the company’s stock, valued at approximately $714,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Baron Wealth Management LLC grew its stake in shares of Travel + Leisure by 2.8% in the 1st quarter. Baron Wealth Management LLC now owns 4,953 shares of the company’s stock valued at $343,000 after buying an additional 133 shares in the last quarter. Diversified Trust Co raised its position in Travel + Leisure by 0.7% during the first quarter. Diversified Trust Co now owns 19,393 shares of the company’s stock valued at $1,342,000 after acquiring an additional 137 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Travel + Leisure by 2.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,790 shares of the company’s stock valued at $408,000 after acquiring an additional 148 shares in the last quarter. Evolve Private Wealth LLC lifted its stake in Travel + Leisure by 1.7% in the first quarter. Evolve Private Wealth LLC now owns 9,270 shares of the company’s stock valued at $641,000 after acquiring an additional 156 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in Travel + Leisure by 19.7% in the second quarter. Geneos Wealth Management Inc. now owns 1,148 shares of the company’s stock valued at $59,000 after acquiring an additional 189 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, Director George Herrera sold 500 shares of the firm’s stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total value of $37,580.00. Following the sale, the director directly owned 1,353 shares in the company, valued at $101,691.48. This trade represents a 26.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Geoffrey Richards sold 33,744 shares of the firm’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $75.65, for a total transaction of $2,552,733.60. Following the completion of the sale, the insider owned 1,600 shares in the company, valued at $121,040. This represents a 95.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 95,135 shares of company stock worth $7,022,699 in the last ninety days. 4.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

TNL has been the topic of several analyst reports. Zacks Research upgraded shares of Travel + Leisure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Wall Street Zen lowered shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Wells Fargo & Company upped their price objective on shares of Travel + Leisure from $87.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. Finally, Citigroup restated a “market outperform” rating on shares of Travel + Leisure in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $87.82.

Travel + Leisure Stock Up 0.9%

Shares of NYSE:TNL opened at $72.88 on Thursday. The company has a market cap of $4.46 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 0.49 and a beta of 1.17. The business has a 50 day moving average price of $75.26 and a 200 day moving average price of $72.11. Travel + Leisure Co. has a twelve month low of $57.86 and a twelve month high of $81.00.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the business posted $1.65 EPS. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts anticipate that Travel + Leisure Co. will post 7.68 EPS for the current year.

Travel + Leisure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.40 dividend on an annualized basis and a yield of 3.3%. Travel + Leisure’s payout ratio is 65.57%.

About Travel + Leisure

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.