Wright Investors Service Inc. Lowers Stock Holdings in Travel + Leisure Co. (NYSE:TNL)

Wright Investors Service Inc. reduced its stake in Travel + Leisure Co. (NYSE:TNL) by 26.7% during the third quarter, HoldingsChannel.com reports. The firm owned 15,621 shares of the company’s stock after selling 5,680 shares during the quarter. Wright Investors Service Inc.’s holdings in Travel + Leisure were worth $720,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Allianz Asset Management GmbH bought a new stake in Travel + Leisure during the 4th quarter valued at about $2,452,000. Waterloo Capital L.P. purchased a new stake in Travel + Leisure during the 4th quarter valued at $2,081,000. Wittenberg Investment Management Inc. bought a new stake in shares of Travel + Leisure in the 4th quarter worth $245,000. Quadrature Capital Ltd raised its stake in shares of Travel + Leisure by 107.6% in the fourth quarter. Quadrature Capital Ltd now owns 26,573 shares of the company’s stock worth $1,040,000 after purchasing an additional 13,772 shares during the last quarter. Finally, Optimist Retirement Group LLC bought a new position in shares of Travel + Leisure during the fourth quarter valued at $221,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Insider Activity at Travel + Leisure

In other Travel + Leisure news, Director George Herrera sold 2,193 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $269,832.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 value of $93,158.64. Following the completion of the transaction, the director now owns 6,352 shares of the company’s stock, valued at $269,832.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Amandine Robin-Caplan sold 3,246 shares of Travel + Leisure stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $41.84, for a total value of $135,812.64. Following the sale, the insider now directly owns 24,491 shares in the company, valued at $1,024,703.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 4.02% of the stock is currently owned by corporate insiders.

Travel + Leisure Stock Up 3.0 %

TNL traded up $1.35 during trading on Friday, hitting $47.03. The company’s stock had a trading volume of 535,386 shares, compared to its average volume of 592,016. The business’s 50 day simple moving average is $43.61 and its 200-day simple moving average is $44.75. The firm has a market cap of $3.28 billion, a PE ratio of 8.66, a P/E/G ratio of 0.63 and a beta of 1.62. Travel + Leisure Co. has a one year low of $32.10 and a one year high of $49.91.

Travel + Leisure (NYSE:TNL) last announced its 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. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 11.35%. The company had revenue of $985.00 million for the quarter, compared to analysts’ expectations of $987.20 million. During the same period last year, the firm earned $1.33 EPS. Travel + Leisure’s revenue for the quarter was up 3.8% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.25%. Travel + Leisure’s payout ratio is currently 36.83%.

Wall Street Analysts Forecast Growth

TNL has been the subject of several research analyst reports. Tigress Financial lifted their price objective on Travel + Leisure from $54.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of Travel + Leisure from $53.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. The Goldman Sachs Group assumed coverage on shares of Travel + Leisure in a research report on Wednesday, September 18th. They set a “neutral” rating and a $44.00 price objective on the stock. Truist Financial cut 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 report on Thursday, September 5th. Finally, Barclays cut Travel + Leisure from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $46.00 to $40.00 in a report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Travel + Leisure has a consensus rating of “Moderate Buy” and an average price target of $54.33.

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.