Verition Fund Management LLC Purchases 25,815 Shares of Travel + Leisure Co. (NYSE:TNL)

Verition Fund Management LLC boosted its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 207.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,250 shares of the company’s stock after buying an additional 25,815 shares during the quarter. Verition Fund Management LLC’s holdings in Travel + Leisure were worth $1,763,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Quest Partners LLC increased its position in shares of Travel + Leisure by 1,474.2% during the second quarter. Quest Partners LLC now owns 22,181 shares of the company’s stock valued at $998,000 after acquiring an additional 20,772 shares during the last quarter. Versor Investments LP boosted its position in shares of 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 buying an additional 12,585 shares in the last quarter. Hancock Whitney Corp acquired a new position in shares of Travel + Leisure during the 2nd quarter valued at about $1,925,000. International Assets Investment Management LLC increased its position in Travel + Leisure by 4,532.8% during the 3rd quarter. International Assets Investment Management LLC now owns 5,374 shares of the company’s stock worth $248,000 after purchasing an additional 5,258 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Travel + Leisure by 344.4% during the second quarter. Crossmark Global Holdings Inc. now owns 28,417 shares of the company’s stock valued at $1,278,000 after purchasing an additional 22,022 shares during the period. 87.54% of the stock is owned by hedge funds and other institutional investors.

Travel + Leisure Stock Performance

Shares of TNL opened at $55.30 on Friday. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 9.39, a PEG ratio of 0.80 and a beta of 1.63. Travel + Leisure Co. has a 52-week low of $36.77 and a 52-week high of $56.91. The business’s fifty day moving average is $50.37 and its 200-day moving average is $46.30.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. The business had revenue of $993.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the business earned $1.54 EPS. As a group, research analysts forecast that Travel + Leisure Co. will post 5.75 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

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 given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.00 annualized dividend and a dividend yield of 3.62%. Travel + Leisure’s dividend payout ratio is currently 33.96%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Barclays raised 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 stock a “buy” rating in a report on Friday, November 1st. Truist Financial boosted their price objective on Travel + Leisure from $60.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Stifel Nicolaus increased their target price on Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, The Goldman Sachs Group increased 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 research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $56.80.

Insider Buying and Selling

In other news, Director George Herrera sold 2,193 shares of Travel + Leisure 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 transaction, the director now owns 6,352 shares in the company, valued at approximately $269,832.96. The trade was a 25.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen P. Holmes sold 80,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $47.55, for a total value of $3,804,000.00. Following the transaction, the director now owns 362,947 shares in the company, valued at $17,258,129.85. This trade represents a 18.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,455 shares of company stock worth $5,075,834. Corporate insiders own 4.02% of the company’s stock.

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.