Ieq Capital LLC Purchases New Position in Travel + Leisure Co. $TNL

Ieq Capital LLC purchased a new position in Travel + Leisure Co. (NYSE:TNL) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,896 shares of the company’s stock, valued at approximately $756,000.

Other large investors also recently modified their holdings of the company. Elevation Wealth Partners LLC boosted its holdings in Travel + Leisure by 413.3% in the 2nd quarter. Elevation Wealth Partners LLC now owns 462 shares of the company’s stock valued at $35,000 after purchasing an additional 372 shares during the period. Danske Bank A S bought a new stake in shares of Travel + Leisure in the third quarter worth about $30,000. N.E.W. Advisory Services LLC bought a new stake in Travel + Leisure in the second quarter valued at $46,000. Assetmark Inc. boosted its position in Travel + Leisure by 43.8% during the 1st quarter. Assetmark Inc. now owns 627 shares of the company’s stock valued at $43,000 after acquiring an additional 191 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of Travel + Leisure by 293.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock worth $44,000 after buying an additional 715 shares during the period. 87.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of Travel + Leisure from $83.00 to $85.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 18th. Wells Fargo & Company lifted their price objective on Travel + Leisure from $87.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Citigroup reaffirmed a “market outperform” rating on shares of Travel + Leisure in a report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Travel + Leisure in a research note on Tuesday, July 21st. Finally, Mizuho lifted their target price on shares of Travel + Leisure from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $87.82.

Travel + Leisure Stock Down 2.4%

NYSE TNL opened at $71.79 on Friday. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 0.50 and a beta of 1.17. Travel + Leisure Co. has a 52 week low of $58.07 and a 52 week high of $81.00. The company has a fifty day moving average of $74.95 and a two-hundred day moving average of $72.16.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.88. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the company posted $1.65 EPS. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. Equities research analysts anticipate that Travel + Leisure Co. will post 7.7 EPS for the current year.

Travel + Leisure Announces Dividend

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

Insider Activity at Travel + Leisure

In other news, Director George Herrera sold 500 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $37,580.00. Following the completion of the sale, the director owned 1,353 shares of the company’s stock, valued at approximately $101,691.48. The trade was a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Thomas Michael Duncan sold 20,000 shares of Travel + Leisure stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $74.16, for a total value of $1,483,200.00. Following the sale, the chief accounting officer directly owned 5,307 shares of the company’s stock, valued at approximately $393,567.12. This trade represents a 79.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 115,135 shares of company stock valued at $8,505,899. 4.01% of the stock is owned by insiders.

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.