Acadian Asset Management LLC Buys 308,391 Shares of Travel + Leisure Co. (NYSE:TNL)

Acadian Asset Management LLC raised its position in shares of Travel + Leisure Co. (NYSE:TNL) by 318.4% in the second quarter, HoldingsChannel reports. The fund owned 405,252 shares of the company’s stock after acquiring an additional 308,391 shares during the period. Acadian Asset Management LLC’s holdings in Travel + Leisure were worth $18,217,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. State of Michigan Retirement System grew its position in Travel + Leisure by 2.3% during the first quarter. State of Michigan Retirement System now owns 17,807 shares of the company’s stock worth $872,000 after buying an additional 400 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Travel + Leisure by 2.5% in the second quarter. QRG Capital Management Inc. now owns 18,005 shares of the company’s stock worth $810,000 after purchasing an additional 432 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Travel + Leisure by 1.3% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 34,068 shares of the company’s stock valued at $1,668,000 after purchasing an additional 445 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Travel + Leisure by 2.5% during the first quarter. Louisiana State Employees Retirement System now owns 20,800 shares of the company’s stock worth $1,018,000 after purchasing an additional 500 shares during the period. Finally, Versant Capital Management Inc acquired a new stake in Travel + Leisure during the second quarter worth about $27,000. Institutional investors own 87.54% of the company’s stock.

Travel + Leisure Stock Performance

Shares of TNL opened at $42.37 on Tuesday. Travel + Leisure Co. has a 52 week low of $32.10 and a 52 week high of $49.91. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 7.80, a PEG ratio of 0.58 and a beta of 1.62. The stock has a fifty day moving average of $44.26 and a 200-day moving average of $44.84.

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

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.00 annualized dividend and a yield of 4.72%. Travel + Leisure’s dividend payout ratio is presently 36.83%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TNL. Tigress Financial boosted their target price on shares of Travel + Leisure from $54.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft cut their target price 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. Truist Financial decreased their price target on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Finally, JPMorgan Chase & Co. upped 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. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.63.

Travel + Leisure Company 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.