Lombard Odier Asset Management USA Corp Sells 4,531 Shares of Travel + Leisure Co. (NYSE:TNL)

Lombard Odier Asset Management USA Corp cut its holdings in Travel + Leisure Co. (NYSE:TNL) by 15.4% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 24,939 shares of the company’s stock after selling 4,531 shares during the period. Lombard Odier Asset Management USA Corp’s holdings in Travel + Leisure were worth $1,122,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Versant Capital Management Inc acquired a new stake in shares of Travel + Leisure in the 2nd quarter valued at about $27,000. Allspring Global Investments Holdings LLC grew its stake in shares of Travel + Leisure by 2,759.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock valued at $28,000 after buying an additional 607 shares during the period. Family Firm Inc. acquired a new stake in shares of Travel + Leisure in the 2nd quarter valued at about $31,000. Larson Financial Group LLC acquired a new stake in shares of Travel + Leisure in the 2nd quarter valued at about $36,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Travel + Leisure in the 2nd quarter valued at about $38,000. 87.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TNL. Truist Financial cut their price target on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Deutsche Bank Aktiengesellschaft cut their price target on Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. The Goldman Sachs Group began coverage on Travel + Leisure in a research note on Wednesday, September 18th. They set a “neutral” rating and a $44.00 price target for the company. JPMorgan Chase & Co. lifted their price target on Travel + Leisure from $53.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Tigress Financial boosted their target price on Travel + Leisure from $54.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.22.

Travel + Leisure Stock Up 0.7 %

Shares of NYSE TNL opened at $44.50 on Monday. The company has a market capitalization of $3.17 billion, a PE ratio of 8.20, a PEG ratio of 0.57 and a beta of 1.62. The stock’s 50 day moving average price is $43.95 and its 200-day moving average price is $44.69. Travel + Leisure Co. has a twelve month low of $32.10 and a twelve month high of $49.91.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. The company had revenue of $985.00 million for the quarter, compared to analysts’ expectations of $987.20 million. Travel + Leisure had a net margin of 11.35% and a negative return on equity of 46.63%. Travel + Leisure’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. As a group, research analysts expect that Travel + Leisure Co. will post 5.67 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.49%. Travel + Leisure’s dividend payout ratio (DPR) is presently 36.83%.

Insider Buying and Selling

In other Travel + Leisure news, Director George Herrera sold 2,193 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total transaction of $93,158.64. Following the sale, the director now owns 6,352 shares of the company’s stock, valued at approximately $269,832.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Travel + Leisure news, insider Amandine Robin-Caplan sold 3,246 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $41.84, for a total transaction of $135,812.64. Following the sale, the insider now owns 24,491 shares of the company’s stock, valued at approximately $1,024,703.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director George Herrera sold 2,193 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total transaction of $93,158.64. Following the transaction, the director now owns 6,352 shares of the company’s stock, valued at $269,832.96. The disclosure for this sale can be found here. 4.02% of the stock is currently owned by insiders.

Travel + Leisure Profile

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and travel products in the United States and internationally. The company operates in two segments, Vacation Ownership; and Travel and Membership. The Vacation Ownership segment develops, markets, and sells vacation ownership interests (VOIs) to individual consumers, as well as provides consumer financing in connection with the sale of VOIs; and property management services at resorts.