Victory Capital Management Inc. Sells 9,648 Shares of Travel + Leisure Co. (NYSE:TNL)

Victory Capital Management Inc. lowered its position in shares of Travel + Leisure Co. (NYSE:TNL) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,080 shares of the company’s stock after selling 9,648 shares during the period. Victory Capital Management Inc.’s holdings in Travel + Leisure were worth $9,496,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Versor Investments LP grew its position in Travel + Leisure by 45.4% in the 3rd quarter. Versor Investments LP now owns 40,290 shares of the company’s stock worth $1,857,000 after purchasing an additional 12,585 shares during the period. Venturi Wealth Management LLC grew its position in Travel + Leisure by 499.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,501 shares of the company’s stock worth $115,000 after purchasing an additional 2,084 shares during the period. State of New Jersey Common Pension Fund D grew its position in Travel + Leisure by 8.0% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 45,558 shares of the company’s stock worth $2,099,000 after purchasing an additional 3,359 shares during the period. Crossmark Global Holdings Inc. grew its position in Travel + Leisure by 25.4% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 35,622 shares of the company’s stock worth $1,642,000 after purchasing an additional 7,205 shares during the period. Finally, Baker Avenue Asset Management LP grew its position in Travel + Leisure by 1.7% in the 3rd quarter. Baker Avenue Asset Management LP now owns 120,433 shares of the company’s stock worth $5,550,000 after purchasing an additional 1,981 shares during the period. Institutional investors own 87.54% of the company’s stock.

Insiders Place Their Bets

In other news, insider Amandine Robin-Caplan sold 3,246 shares of the company’s 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 completion of the sale, the insider now owns 24,491 shares of the company’s stock, valued at approximately $1,024,703.44. This represents a 11.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geoffrey Richards sold 4,607 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $54.25, for a total transaction of $249,929.75. Following the completion of the sale, the insider now directly owns 120,602 shares of the company’s stock, valued at $6,542,658.50. The trade was a 3.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 95,055 shares of company stock worth $4,544,170 in the last three months. Corporate insiders own 4.02% of the company’s stock.

Travel + Leisure Trading Up 2.3 %

Shares of NYSE TNL opened at $54.16 on Friday. The firm’s 50-day moving average price is $47.92 and its 200-day moving average price is $45.54. The stock has a market capitalization of $3.70 billion, a price-to-earnings ratio of 9.20, a P/E/G ratio of 0.76 and a beta of 1.61. Travel + Leisure Co. has a 12-month low of $35.41 and a 12-month high of $54.79.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.49 by $0.08. The company had revenue of $993.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.54 EPS. On average, equities analysts predict that Travel + Leisure Co. will post 5.77 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.50 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.69%. Travel + Leisure’s dividend payout ratio is currently 33.96%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TNL shares. The Goldman Sachs Group lifted their target price on shares of Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Tigress Financial boosted their price objective on shares of Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Truist Financial cut their price objective 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. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Finally, Barclays lifted their target price on shares of Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.67.

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.