Kingsview Wealth Management LLC Takes Position in Travel + Leisure Co. $TNL

Kingsview Wealth Management LLC bought a new position in Travel + Leisure Co. (NYSE:TNL) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 53,741 shares of the company’s stock, valued at approximately $2,774,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Parallel Advisors LLC boosted its position in shares of Travel + Leisure by 17.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,202 shares of the company’s stock valued at $62,000 after acquiring an additional 182 shares during the last quarter. GAMMA Investing LLC increased its position in Travel + Leisure by 10.8% during the second quarter. GAMMA Investing LLC now owns 2,264 shares of the company’s stock worth $117,000 after purchasing an additional 220 shares during the last quarter. IFP Advisors Inc raised its stake in Travel + Leisure by 9.5% during the second quarter. IFP Advisors Inc now owns 3,008 shares of the company’s stock worth $155,000 after purchasing an additional 262 shares during the period. Cetera Investment Advisers raised its stake in Travel + Leisure by 3.0% during the first quarter. Cetera Investment Advisers now owns 10,789 shares of the company’s stock worth $499,000 after purchasing an additional 317 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in Travel + Leisure by 155.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 628 shares of the company’s stock valued at $32,000 after purchasing an additional 382 shares during the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Truist Financial upped their price objective on Travel + Leisure from $70.00 to $71.00 and gave the company a “buy” rating in a report on Friday. Citigroup restated an “outperform” rating on shares of Travel + Leisure in a research report on Thursday, October 23rd. Mizuho set a $86.00 price target on Travel + Leisure in a research note on Wednesday, October 22nd. Weiss Ratings reiterated a “buy (b)” rating on shares of Travel + Leisure in a report on Wednesday, October 8th. Finally, JMP Securities boosted their price objective on shares of Travel + Leisure from $70.00 to $80.00 and gave the company a “market outperform” rating in a report on Thursday, October 23rd. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Travel + Leisure currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.18.

Travel + Leisure Price Performance

Shares of NYSE TNL opened at $61.85 on Wednesday. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 0.55 and a beta of 1.51. The stock’s 50-day moving average is $61.97 and its two-hundred day moving average is $57.51. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $70.43.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.08. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.57 EPS. Equities research analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th will be issued a $0.56 dividend. The ex-dividend date is Friday, December 12th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.6%. Travel + Leisure’s dividend payout ratio is presently 36.84%.

Insiders Place Their Bets

In other news, insider Jeffrey Myers sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $66.38, for a total transaction of $3,319,000.00. Following the sale, the insider owned 63,789 shares of the company’s stock, valued at approximately $4,234,313.82. This trade represents a 43.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Amandine Robin-Caplan sold 1,538 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $65.08, for a total value of $100,093.04. Following the sale, the insider owned 3,904 shares of the company’s stock, valued at approximately $254,072.32. The trade was a 28.26% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 135,692 shares of company stock worth $8,967,762. Insiders own 3.75% of the company’s stock.

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.