Travel + Leisure Co. (NYSE:TNL) Shares Sold by Patient Capital Management LLC

Patient Capital Management LLC reduced its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 86.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,599 shares of the company’s stock after selling 767,534 shares during the period. Patient Capital Management LLC owned approximately 0.17% of Travel + Leisure worth $5,882,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Nomura Holdings Inc. purchased a new position in Travel + Leisure in the 4th quarter worth $458,000. Nuveen Asset Management LLC increased its holdings in shares of Travel + Leisure by 25.1% in the fourth quarter. Nuveen Asset Management LLC now owns 897,903 shares of the company’s stock valued at $45,299,000 after purchasing an additional 180,059 shares during the period. Mubadala Investment Co PJSC purchased a new position in shares of Travel + Leisure in the fourth quarter worth about $2,343,000. Millennium Management LLC lifted its holdings in shares of Travel + Leisure by 167.8% during the fourth quarter. Millennium Management LLC now owns 180,160 shares of the company’s stock worth $9,089,000 after purchasing an additional 112,883 shares during the period. Finally, Gotham Asset Management LLC lifted its holdings in shares of Travel + Leisure by 27.4% during the fourth quarter. Gotham Asset Management LLC now owns 37,383 shares of the company’s stock worth $1,886,000 after purchasing an additional 8,040 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director George Herrera sold 6,336 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the sale, the director now owns 2,759 shares of the company’s stock, valued at approximately $129,121.20. This represents a 69.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Dean Brown bought 2,000 shares of Travel + Leisure stock in a transaction on Thursday, March 13th. The shares were acquired at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the acquisition, the insider now owns 408,706 shares in the company, valued at $19,070,221.96. This represents a 0.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.75% of the stock is owned by company insiders.

Travel + Leisure Stock Up 1.6%

Shares of Travel + Leisure stock opened at $51.16 on Wednesday. The firm has a market cap of $3.40 billion, a PE ratio of 8.76, a P/E/G ratio of 0.67 and a beta of 1.41. Travel + Leisure Co. has a twelve month low of $37.77 and a twelve month high of $58.95. The business has a 50-day moving average price of $45.35 and a 200 day moving average price of $50.56.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.10 by $0.01. The company had revenue of $934.00 million for the quarter, compared to analyst estimates of $933.08 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. Travel + Leisure’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company earned $0.97 earnings per share. On average, sell-side analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.56 per share. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.24 dividend on an annualized basis and a yield of 4.38%. Travel + Leisure’s dividend payout ratio (DPR) is presently 37.40%.

Analyst Ratings Changes

A number of research firms have issued reports on TNL. Truist Financial raised their price target on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, March 7th. Bank of America raised shares of Travel + Leisure from an “underperform” rating to a “buy” rating and raised their target price for the stock from $40.00 to $60.00 in a report on Monday, January 27th. Barclays decreased their target price on shares of Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating for the company in a research report on Thursday, April 24th. Morgan Stanley cut their price target on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group decreased their price objective on Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating for the company in a report on Monday, April 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $59.20.

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.