Wedge Capital Management L L P NC trimmed its holdings in Travel + Leisure Co. (NYSE:TNL – Get Rating) by 3.0% in the first quarter, HoldingsChannel reports. The fund owned 679,831 shares of the company’s stock after selling 21,192 shares during the period. Wedge Capital Management L L P NC’s holdings in Travel + Leisure were worth $39,389,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in TNL. Dark Forest Capital Management LP bought a new stake in shares of Travel + Leisure in the 3rd quarter worth approximately $40,000. Morgan Stanley lifted its holdings in shares of Travel + Leisure by 10.8% in the 3rd quarter. Morgan Stanley now owns 396,018 shares of the company’s stock worth $21,594,000 after acquiring an additional 38,741 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Travel + Leisure by 74.7% in the 3rd quarter. Millennium Management LLC now owns 424,706 shares of the company’s stock worth $23,159,000 after acquiring an additional 181,626 shares during the last quarter. LPL Financial LLC increased its stake in shares of Travel + Leisure by 18.0% in the third quarter. LPL Financial LLC now owns 42,740 shares of the company’s stock worth $2,331,000 after buying an additional 6,518 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of Travel + Leisure by 81.9% in the third quarter. Two Sigma Advisers LP now owns 21,100 shares of the company’s stock worth $1,151,000 after buying an additional 9,500 shares during the period. Hedge funds and other institutional investors own 87.70% of the company’s stock.
Shares of NYSE TNL traded down $0.20 during mid-day trading on Wednesday, hitting $39.12. The stock had a trading volume of 3,706 shares, compared to its average volume of 671,479. The business has a 50 day moving average price of $50.10 and a two-hundred day moving average price of $53.35. The firm has a market cap of $3.34 billion, a P/E ratio of 10.40 and a beta of 1.67. Travel + Leisure Co. has a 1 year low of $38.66 and a 1 year high of $63.19.
Travel + Leisure (NYSE:TNL – Get Rating) last issued its quarterly earnings data on Thursday, April 28th. The company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.03). The company had revenue of $809.00 million for the quarter, compared to analysts’ expectations of $772.11 million. Travel + Leisure had a net margin of 9.98% and a negative return on equity of 40.92%. The firm’s revenue for the quarter was up 28.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, sell-side analysts predict that Travel + Leisure Co. will post 4.54 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Wednesday, June 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Tuesday, June 14th. Travel + Leisure’s payout ratio is currently 42.33%.
Separately, Jefferies Financial Group raised shares of Travel + Leisure from a “hold” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $79.00 in a research note on Friday, April 29th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $76.60.
In other Travel + Leisure news, insider James J. Savina sold 5,500 shares of the business’s stock in a transaction on Friday, April 29th. The shares were sold at an average price of $57.19, for a total transaction of $314,545.00. Following the transaction, the insider now directly owns 13,659 shares of the company’s stock, valued at approximately $781,158.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.07% of the stock is currently owned by insiders.
Travel + Leisure Company Profile (Get Rating)
Travel + Leisure Co, together with its subsidiaries, provides hospitality services and 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; provides consumer financing in connection with the sale of VOIs; and provides property management services at resorts.
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