Redwood Investment Management LLC Purchases Shares of 15,260 Travel + Leisure Co. $TNL

Redwood Investment Management LLC acquired a new stake in shares of Travel + Leisure Co. (NYSE:TNL) during the 2nd quarter, Holdings Channel reports. The firm acquired 15,260 shares of the company’s stock, valued at approximately $1,166,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TNL. First Bancorp Inc ME bought a new stake in Travel + Leisure in the 2nd quarter valued at about $27,000. Danske Bank A S acquired a new stake in Travel + Leisure in the third quarter valued at approximately $30,000. Elevation Wealth Partners LLC increased its holdings in shares of Travel + Leisure by 413.3% during the second quarter. Elevation Wealth Partners LLC now owns 462 shares of the company’s stock valued at $35,000 after acquiring an additional 372 shares in the last quarter. Assetmark Inc. increased its holdings in shares of Travel + Leisure by 43.8% during the first 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. raised its position in shares of Travel + Leisure by 293.0% during the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock worth $44,000 after purchasing an additional 715 shares during the period. Institutional investors own 87.54% of the company’s stock.

Insider Transactions at Travel + Leisure

In other news, insider Geoffrey Richards sold 33,744 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $75.65, for a total value of $2,552,733.60. Following the transaction, the insider owned 1,600 shares in the company, valued at $121,040. The trade was a 95.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George Herrera sold 500 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 1,353 shares of the company’s stock, valued at approximately $101,691.48. This represents a 26.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 95,135 shares of company stock worth $7,022,699 in the last 90 days. Insiders own 4.01% of the company’s stock.

Analysts Set New Price Targets

TNL has been the topic of a number of recent research reports. Zacks Research cut Travel + Leisure from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 19th. The Goldman Sachs Group upgraded shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Monday, June 1st. Barclays raised their price objective on shares of Travel + Leisure from $74.00 to $77.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b-)” rating on shares of Travel + Leisure in a report on Tuesday, July 21st. Finally, Wells Fargo & Company boosted their target price on shares of Travel + Leisure from $87.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.82.

Travel + Leisure Price Performance

Shares of TNL stock opened at $73.58 on Thursday. The firm has a 50-day moving average of $75.05 and a 200-day moving average of $72.17. Travel + Leisure Co. has a one year low of $58.07 and a one year high of $81.00. The company has a market cap of $4.50 billion, a P/E ratio of 20.10, a P/E/G ratio of 0.50 and a beta of 1.17.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, hitting the consensus estimate of $1.88. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the company earned $1.65 earnings per share. The firm’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, research analysts expect that Travel + Leisure Co. will post 7.7 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders 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 annualized dividend and a dividend yield of 3.3%. Travel + Leisure’s dividend payout ratio (DPR) is currently 65.57%.

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.