CastleKnight Management LP Sells 15,500 Shares of Travel + Leisure Co. $TNL

CastleKnight Management LP cut its stake in Travel + Leisure Co. (NYSE:TNL) by 17.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,700 shares of the company’s stock after selling 15,500 shares during the quarter. CastleKnight Management LP owned about 0.11% of Travel + Leisure worth $5,198,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TNL. Aristeia Capital L.L.C. purchased a new stake in shares of Travel + Leisure in the 4th quarter worth about $316,000. Cetera Investment Advisers grew its position in shares of Travel + Leisure by 10.0% in the 4th quarter. Cetera Investment Advisers now owns 25,056 shares of the company’s stock worth $1,767,000 after buying an additional 2,273 shares during the period. Lazard Asset Management LLC grew its position in shares of Travel + Leisure by 10.8% in the 4th quarter. Lazard Asset Management LLC now owns 32,066 shares of the company’s stock worth $2,262,000 after buying an additional 3,126 shares during the period. Laird Norton Wetherby Trust Company LLC purchased a new stake in shares of Travel + Leisure in the 4th quarter worth about $382,000. Finally, TCW Group Inc. grew its position in shares of Travel + Leisure by 53.5% in the 4th quarter. TCW Group Inc. now owns 109,461 shares of the company’s stock worth $7,720,000 after buying an additional 38,166 shares during the period. 87.54% of the stock is currently owned by institutional investors.

Travel + Leisure Stock Performance

Shares of TNL stock opened at $75.97 on Thursday. Travel + Leisure Co. has a one year low of $47.74 and a one year high of $81.00. The company’s 50-day moving average is $69.37 and its 200 day moving average is $70.84. The company has a market capitalization of $4.74 billion, a price-to-earnings ratio of 21.34, a price-to-earnings-growth ratio of 0.57 and a beta of 1.17.

Travel + Leisure (NYSE:TNL) last announced 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. Travel + Leisure had a net margin of 5.85% and a negative return on equity of 48.06%. The company had revenue of $961.00 million for the quarter, compared to the consensus estimate of $954.81 million. During the same period in the prior year, the firm posted $1.11 EPS. Travel + Leisure’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, research analysts predict that Travel + Leisure Co. will post 7.46 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 12th will be 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 is Friday, June 12th. Travel + Leisure’s dividend payout ratio is 67.42%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TNL shares. Weiss Ratings raised shares of Travel + Leisure from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, April 24th. Wells Fargo & Company reduced their target price on shares of Travel + Leisure from $88.00 to $87.00 and set an “overweight” rating on the stock in a research report on Thursday, April 23rd. Wall Street Zen downgraded shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. Citizens Jmp upped their target price on shares of Travel + Leisure from $80.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 19th. Finally, The Goldman Sachs Group raised shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research report on Monday, June 1st. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.40.

Insider Activity at Travel + Leisure

In related news, Director Denny Marie Post sold 2,500 shares of the 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 sale, the director directly owned 1,977 shares of the company’s stock, valued at approximately $126,191.91. This represents a 55.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George Herrera sold 500 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total transaction of $37,580.00. Following the transaction, the director owned 1,353 shares in the company, valued at $101,691.48. This represents a 26.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,074 shares of company stock worth $3,907,122 in the last ninety days. 4.01% of the stock is currently owned by company 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.