Travel + Leisure Co. $TNL Shares Purchased by ING Groep NV

ING Groep NV boosted its stake in Travel + Leisure Co. (NYSE:TNL) by 115.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 63,000 shares of the company’s stock after acquiring an additional 33,700 shares during the period. ING Groep NV owned about 0.10% of Travel + Leisure worth $3,748,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TNL. Norges Bank acquired a new stake in shares of Travel + Leisure during the second quarter worth about $50,934,000. AQR Capital Management LLC grew its stake in Travel + Leisure by 46.8% during the 2nd quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock worth $138,449,000 after buying an additional 855,151 shares during the last quarter. LSV Asset Management grew its stake in Travel + Leisure by 69.0% during the 2nd quarter. LSV Asset Management now owns 1,615,402 shares of the company’s stock worth $83,371,000 after buying an additional 659,293 shares during the last quarter. Truist Financial Corp acquired a new position in Travel + Leisure during the third quarter worth approximately $38,959,000. Finally, Envestnet Asset Management Inc. lifted its stake in Travel + Leisure by 231.1% in the third quarter. Envestnet Asset Management Inc. now owns 691,599 shares of the company’s stock valued at $41,143,000 after buying an additional 482,731 shares during the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TNL. Truist Financial raised their target price on shares of Travel + Leisure from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, November 14th. Weiss Ratings reiterated a “buy (b)” rating on shares of Travel + Leisure in a research note on Wednesday, January 21st. Citigroup reissued an “outperform” rating on shares of Travel + Leisure in a research report on Thursday, October 23rd. Wells Fargo & Company assumed coverage on shares of Travel + Leisure in a research note on Tuesday, November 18th. They issued an “overweight” rating and a $74.00 price objective on the stock. Finally, The Goldman Sachs Group upped their target price on shares of Travel + Leisure from $61.00 to $71.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.25.

Travel + Leisure Stock Performance

Shares of TNL opened at $72.13 on Friday. The stock has a market capitalization of $4.64 billion, a P/E ratio of 11.86, a P/E/G ratio of 0.64 and a beta of 1.38. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $76.21. The company’s fifty day moving average is $71.73 and its two-hundred day moving average is $65.56.

Insider Activity

In related news, insider Geoffrey Richards sold 62,525 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $65.17, for a total transaction of $4,074,754.25. Following the completion of the transaction, the insider directly owned 39,604 shares of the company’s stock, valued at $2,580,992.68. This represents a 61.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director George Herrera sold 559 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $68.18, for a total value of $38,112.62. The disclosure for this sale is available in the SEC filing. Corporate insiders own 3.75% of the company’s stock.

Travel + Leisure Company 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.