Readystate Asset Management LP Has $996,000 Stake in Travel + Leisure Co. (NYSE:TNL)

Readystate Asset Management LP grew its position in shares of Travel + Leisure Co. (NYSE:TNL) by 82.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,473 shares of the company’s stock after buying an additional 11,528 shares during the quarter. Readystate Asset Management LP’s holdings in Travel + Leisure were worth $996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Travel + Leisure by 4.6% during the fourth quarter. Vanguard Group Inc. now owns 10,722,330 shares of the company’s stock worth $419,136,000 after purchasing an additional 466,640 shares during the period. BlackRock Inc. boosted its position in shares of Travel + Leisure by 13.9% in the first quarter. BlackRock Inc. now owns 9,806,796 shares of the company’s stock valued at $568,206,000 after acquiring an additional 1,197,611 shares during the period. Invesco Ltd. boosted its position in shares of Travel + Leisure by 11.8% in the first quarter. Invesco Ltd. now owns 6,057,641 shares of the company’s stock valued at $350,980,000 after acquiring an additional 636,968 shares during the period. State Street Corp boosted its position in shares of Travel + Leisure by 3.0% in the second quarter. State Street Corp now owns 2,515,891 shares of the company’s stock valued at $97,667,000 after acquiring an additional 74,254 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Travel + Leisure by 34.7% in the third quarter. AQR Capital Management LLC now owns 1,737,814 shares of the company’s stock valued at $63,830,000 after purchasing an additional 447,938 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Travel + Leisure

In other news, insider James J. Savina sold 15,000 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $45.18, for a total transaction of $677,700.00. Following the completion of the transaction, the insider now directly owns 15,860 shares in the company, valued at approximately $716,554.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Travel + Leisure news, insider Kimberly Marshall sold 4,953 shares of the stock in a transaction that occurred on Sunday, March 10th. The shares were sold at an average price of $45.24, for a total transaction of $224,073.72. Following the transaction, the insider now owns 54,657 shares in the company, valued at approximately $2,472,682.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James J. Savina sold 15,000 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $45.18, for a total transaction of $677,700.00. Following the transaction, the insider now owns 15,860 shares in the company, valued at approximately $716,554.80. The disclosure for this sale can be found here. In the last three months, insiders sold 28,922 shares of company stock worth $1,318,358. 4.02% of the stock is owned by company insiders.

Analysts Set New Price Targets

TNL has been the subject of a number of recent research reports. Truist Financial upped their target price on Travel + Leisure from $59.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. JMP Securities began coverage on Travel + Leisure in a research note on Tuesday, February 13th. They set an “outperform” rating and a $50.00 price objective for the company. Barclays increased their price objective on Travel + Leisure from $37.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 22nd. Mizuho began coverage on Travel + Leisure in a research note on Tuesday, March 26th. They set a “neutral” rating and a $55.00 price objective for the company. Finally, Jefferies Financial Group upgraded Travel + Leisure from a “hold” rating to a “buy” rating and increased their price objective for the stock from $37.00 to $57.00 in a research note on Tuesday, January 2nd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.29.

Travel + Leisure Trading Up 0.3 %

Travel + Leisure stock traded up $0.15 during mid-day trading on Thursday, hitting $43.72. The stock had a trading volume of 537,122 shares, compared to its average volume of 538,078. The stock has a 50-day simple moving average of $45.12 and a two-hundred day simple moving average of $40.12. The stock has a market capitalization of $3.12 billion, a PE ratio of 8.22, a P/E/G ratio of 1.19 and a beta of 1.63. Travel + Leisure Co. has a 12 month low of $32.10 and a 12 month high of $49.02.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.61. Travel + Leisure had a negative return on equity of 43.77% and a net margin of 10.59%. The business had revenue of $935.00 million for the quarter, compared to analysts’ expectations of $946.56 million. During the same quarter last year, the business earned $1.30 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. Sell-side analysts expect that Travel + Leisure Co. will post 5.4 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, March 21st were paid a dividend of $0.50 per share. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.45. This represents a $2.00 annualized dividend and a dividend yield of 4.57%. The ex-dividend date was Wednesday, March 20th. Travel + Leisure’s payout ratio is currently 37.59%.

About Travel + Leisure

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.