QRG Capital Management Inc. Sells 10,441 Shares of Travel + Leisure Co. $TNL

QRG Capital Management Inc. cut its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 43.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,504 shares of the company’s stock after selling 10,441 shares during the period. QRG Capital Management Inc.’s holdings in Travel + Leisure were worth $803,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TNL. Farther Finance Advisors LLC increased its holdings in Travel + Leisure by 2,704.3% in the second quarter. Farther Finance Advisors LLC now owns 1,963 shares of the company’s stock valued at $101,000 after purchasing an additional 1,893 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in Travel + Leisure by 45.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 60,948 shares of the company’s stock worth $3,429,000 after buying an additional 18,930 shares during the period. Advisors Capital Management LLC grew its position in shares of Travel + Leisure by 1.1% in the 2nd quarter. Advisors Capital Management LLC now owns 399,794 shares of the company’s stock valued at $20,633,000 after buying an additional 4,242 shares during the last quarter. Ethic Inc. grew its position in shares of Travel + Leisure by 132.0% in the 3rd quarter. Ethic Inc. now owns 27,108 shares of the company’s stock valued at $1,613,000 after buying an additional 15,422 shares during the last quarter. Finally, Savant Capital LLC increased its stake in shares of Travel + Leisure by 54.1% in the second quarter. Savant Capital LLC now owns 56,934 shares of the company’s stock valued at $2,938,000 after buying an additional 19,997 shares during the period. 87.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Travel + Leisure

In related news, Director George Herrera sold 559 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $68.18, for a total value of $38,112.62. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey Myers sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $66.38, for a total transaction of $3,319,000.00. Following the completion of the transaction, the insider directly owned 63,789 shares in the company, valued at approximately $4,234,313.82. The trade was a 43.94% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 152,108 shares of company stock worth $9,996,998. Corporate insiders own 3.75% of the company’s stock.

Travel + Leisure Price Performance

Shares of Travel + Leisure stock opened at $71.74 on Thursday. The business has a 50-day simple moving average of $69.96 and a 200 day simple moving average of $64.13. Travel + Leisure Co. has a one year low of $37.77 and a one year high of $76.21. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.62 and a beta of 1.38.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.08. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Travel + Leisure had a negative return on equity of 49.06% and a net margin of 10.36%.The company’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.57 earnings per share. On average, sell-side analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Friday, December 12th were paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, December 12th. Travel + Leisure’s payout ratio is 36.84%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup reaffirmed an “outperform” rating on shares of Travel + Leisure in a research note on Thursday, October 23rd. JMP Securities boosted their price target on shares of Travel + Leisure from $70.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 23rd. Wall Street Zen raised shares of Travel + Leisure from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Mizuho set a $86.00 target price on shares of Travel + Leisure in a research note on Wednesday, October 22nd. Finally, Morgan Stanley boosted their target price on shares of Travel + Leisure from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, January 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.56.

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.