Robotti Robert Acquires New Shares in Travel + Leisure Co. $TNL

Robotti Robert acquired a new position in shares of Travel + Leisure Co. (NYSE:TNL) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 122,039 shares of the company’s stock, valued at approximately $9,327,000. Travel + Leisure comprises about 1.5% of Robotti Robert’s holdings, making the stock its 17th biggest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. bought a new position in Travel + Leisure in the second quarter valued at about $543,957,000. Norges Bank acquired a new stake in shares of Travel + Leisure during the fourth quarter valued at about $62,162,000. AQR Capital Management LLC grew its holdings in shares of Travel + Leisure by 46.8% during the second quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock worth $138,449,000 after purchasing an additional 855,151 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Travel + Leisure during the second quarter worth about $55,087,000. Finally, Gotham Asset Management LLC increased its stake in shares of Travel + Leisure by 139.2% in the fourth quarter. Gotham Asset Management LLC now owns 631,336 shares of the company’s stock valued at $44,528,000 after buying an additional 367,356 shares during the period. Institutional investors and hedge funds own 87.54% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TNL. Weiss Ratings reiterated a “buy (b-)” rating on shares of Travel + Leisure in a report on Tuesday, July 21st. Wall Street Zen lowered shares of Travel + Leisure from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Susquehanna assumed coverage on shares of Travel + Leisure in a research report on Tuesday. They issued a “positive” rating and a $95.00 price target for the company. The Goldman Sachs Group raised shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price target for the company in a research note on Monday, June 1st. Finally, Mizuho lifted their price target on shares of Travel + Leisure from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Travel + Leisure currently has a consensus rating of “Buy” and a consensus target price of $87.82.

Insiders Place Their Bets

In other Travel + Leisure news, Director George Herrera sold 500 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the completion of the sale, the director directly owned 1,353 shares in the company, valued at approximately $101,691.48. The trade was a 26.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Kimberly Marshall sold 32,691 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $75.00, for a total value of $2,451,825.00. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 95,135 shares of company stock worth $7,022,699. 4.01% of the stock is owned by corporate insiders.

Travel + Leisure Trading Down 1.8%

Shares of TNL opened at $72.33 on Wednesday. The firm’s fifty day simple moving average is $75.22 and its two-hundred day simple moving average is $72.09. Travel + Leisure Co. has a 12 month low of $57.86 and a 12 month high of $81.00. The stock has a market capitalization of $4.43 billion, a P/E ratio of 19.76, a price-to-earnings-growth ratio of 0.51 and a beta of 1.17.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, hitting the consensus estimate of $1.88. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the company posted $1.65 EPS. As a group, research analysts predict that Travel + Leisure Co. will post 7.68 EPS for the current fiscal year.

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.40 annualized dividend and a yield of 3.3%. Travel + Leisure’s dividend payout ratio (DPR) is currently 65.57%.

Travel + Leisure Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.