Redwood Investment Management LLC Decreases Stock Position in Travel + Leisure Co. (NYSE:TNL)

Redwood Investment Management LLC lessened its position in Travel + Leisure Co. (NYSE:TNL) by 15.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,408 shares of the company’s stock after selling 17,440 shares during the quarter. Redwood Investment Management LLC’s holdings in Travel + Leisure were worth $4,487,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UMB Bank n.a. increased its holdings in shares of Travel + Leisure by 1,948.1% in the third quarter. UMB Bank n.a. now owns 553 shares of the company’s stock valued at $25,000 after purchasing an additional 526 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Travel + Leisure by 2,759.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock valued at $28,000 after purchasing an additional 607 shares during the last quarter. Family Firm Inc. acquired a new stake in shares of Travel + Leisure in the second quarter valued at approximately $31,000. Larson Financial Group LLC acquired a new stake in shares of Travel + Leisure in the second quarter valued at approximately $36,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Travel + Leisure in the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Analysts Set New Price Targets

TNL has been the subject of several recent research reports. Truist Financial increased their price target on Travel + Leisure from $60.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus increased their price target on Travel + Leisure from $59.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Tigress Financial increased their price target on Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a report on Friday, November 1st. The Goldman Sachs Group raised their target price on Travel + Leisure from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Barclays raised their target price on Travel + Leisure from $40.00 to $41.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.80.

Insider Activity

In other news, Director George Herrera sold 2,193 shares of Travel + Leisure stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total value of $93,158.64. Following the completion of the sale, the director now directly owns 6,352 shares of the company’s stock, valued at approximately $269,832.96. The trade was a 25.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen P. Holmes sold 80,000 shares of Travel + Leisure stock in a transaction on Friday, October 25th. The shares were sold at an average price of $47.55, for a total value of $3,804,000.00. Following the completion of the sale, the director now directly owns 362,947 shares of the company’s stock, valued at $17,258,129.85. The trade was a 18.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,455 shares of company stock valued at $5,075,834. 4.02% of the stock is currently owned by corporate insiders.

Travel + Leisure Trading Down 0.1 %

Shares of NYSE TNL opened at $55.18 on Thursday. Travel + Leisure Co. has a twelve month low of $36.09 and a twelve month high of $56.91. The stock has a fifty day simple moving average of $49.81 and a 200-day simple moving average of $46.10. The stock has a market capitalization of $3.77 billion, a PE ratio of 9.37, a PEG ratio of 0.80 and a beta of 1.63.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.08. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The business had revenue of $993.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the firm posted $1.54 earnings per share. The company’s revenue was up .7% on a year-over-year basis. On average, equities analysts predict that Travel + Leisure Co. will post 5.75 earnings per share for the current year.

Travel + Leisure Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.62%. Travel + Leisure’s payout ratio is presently 33.96%.

Travel + Leisure 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.