Hourglass Capital LLC Has $1.66 Million Position in Travel + Leisure Co. (NYSE:TNL)

Hourglass Capital LLC raised its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,000 shares of the company’s stock after buying an additional 1,020 shares during the quarter. Hourglass Capital LLC owned about 0.05% of Travel + Leisure worth $1,659,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TNL. Swedbank AB acquired a new position in shares of Travel + Leisure during the 1st quarter worth about $33,598,000. Millennium Management LLC lifted its holdings in shares of Travel + Leisure by 440.7% during the 2nd quarter. Millennium Management LLC now owns 614,141 shares of the company’s stock valued at $27,624,000 after purchasing an additional 500,554 shares in the last quarter. Acadian Asset Management LLC lifted 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 valued at $18,217,000 after purchasing an additional 308,391 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Travel + Leisure during the 2nd quarter valued at about $7,480,000. Finally, LSV Asset Management lifted its holdings in shares of Travel + Leisure by 23.1% during the 2nd quarter. LSV Asset Management now owns 725,381 shares of the company’s stock valued at $32,628,000 after purchasing an additional 136,281 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Travel + Leisure

In other Travel + Leisure news, insider Geoffrey Richards sold 5,009 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $52.16, for a total value of $261,269.44. Following the completion of the transaction, the insider now directly owns 125,209 shares in the company, valued at approximately $6,530,901.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Geoffrey Richards sold 5,009 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $52.16, for a total value of $261,269.44. Following the completion of the sale, the insider now owns 125,209 shares of the company’s stock, valued at approximately $6,530,901.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Amandine Robin-Caplan sold 3,246 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 of the company’s stock, valued at $1,024,703.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,448 shares of company stock worth $4,294,241. 4.02% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on TNL shares. Deutsche Bank Aktiengesellschaft cut their price objective on 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 cut their price objective on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, September 5th. Barclays boosted their target price on Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Tigress Financial boosted their target price on Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, The Goldman Sachs Group boosted their target price on Travel + Leisure from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.67.

Travel + Leisure Stock Performance

NYSE:TNL opened at $53.72 on Thursday. The stock has a fifty day moving average price of $46.58 and a 200-day moving average price of $45.17. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 0.77 and a beta of 1.61. Travel + Leisure Co. has a fifty-two week low of $35.41 and a fifty-two week high of $54.59.

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

Travel + Leisure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.00 annualized dividend and a yield of 3.72%. Travel + Leisure’s dividend payout ratio is presently 33.96%.

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.