Point72 Hong Kong Ltd Makes New Investment in Travel + Leisure Co. (NYSE:TNL)

Point72 Hong Kong Ltd bought a new position in Travel + Leisure Co. (NYSE:TNL) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 33,599 shares of the company’s stock, valued at approximately $1,511,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Travel + Leisure in the fourth quarter valued at about $34,967,000. Swedbank AB purchased a new stake in shares of Travel + Leisure in the 1st quarter valued at approximately $33,598,000. Vanguard Group Inc. grew its stake in shares of Travel + Leisure by 4.6% in the 4th quarter. Vanguard Group Inc. now owns 10,722,330 shares of the company’s stock valued at $419,136,000 after buying an additional 466,640 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Travel + Leisure by 318.4% during the 2nd quarter. Acadian Asset Management LLC now owns 405,252 shares of the company’s stock worth $18,217,000 after buying an additional 308,391 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its position in shares of Travel + Leisure by 1,025.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 196,627 shares of the company’s stock valued at $9,627,000 after buying an additional 179,149 shares during the period. 87.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Travel + Leisure

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

Travel + Leisure Price Performance

Shares of NYSE:TNL opened at $45.51 on Thursday. The firm has a market capitalization of $3.17 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 0.63 and a beta of 1.62. Travel + Leisure Co. has a 1 year low of $32.10 and a 1 year high of $49.91. The firm’s 50-day moving average is $43.75 and its two-hundred day moving average is $44.70.

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

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.39%. The ex-dividend date of this dividend is Friday, September 13th. Travel + Leisure’s payout ratio is currently 36.83%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. The Goldman Sachs Group initiated coverage on Travel + Leisure in a research report on Wednesday, September 18th. They set a “neutral” rating and a $44.00 price objective for the company. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Travel + Leisure from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Truist Financial lowered their target price on shares of Travel + Leisure from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, September 5th. Finally, Tigress Financial boosted their price target on shares of Travel + Leisure from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Travel + Leisure presently has a consensus rating of “Moderate Buy” and an average target price of $55.22.

About Travel + Leisure

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.