Freedom Investment Management Inc. Decreases Stake in Travel + Leisure Co. $TNL

Freedom Investment Management Inc. lessened its stake in Travel + Leisure Co. (NYSE:TNL) by 27.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,901 shares of the company’s stock after selling 2,571 shares during the quarter. Freedom Investment Management Inc.’s holdings in Travel + Leisure were worth $356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. AQR Capital Management LLC raised its position in shares of Travel + Leisure by 28.3% during the 1st quarter. AQR Capital Management LLC now owns 1,827,453 shares of the company’s stock worth $83,241,000 after acquiring an additional 403,418 shares in the last quarter. Northern Trust Corp raised its position in shares of Travel + Leisure by 3.3% during the 1st quarter. Northern Trust Corp now owns 1,071,318 shares of the company’s stock worth $49,591,000 after acquiring an additional 34,615 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Travel + Leisure by 8.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 994,582 shares of the company’s stock worth $46,039,000 after acquiring an additional 79,430 shares in the last quarter. LSV Asset Management raised its position in shares of Travel + Leisure by 37.7% during the 1st quarter. LSV Asset Management now owns 956,109 shares of the company’s stock worth $44,258,000 after acquiring an additional 261,528 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Travel + Leisure during the 1st quarter worth about $41,114,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on TNL shares. Mizuho set a $86.00 target price on Travel + Leisure in a research report on Wednesday. JMP Securities raised their target price on Travel + Leisure from $70.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Thursday. Weiss Ratings reissued a “buy (b)” rating on shares of Travel + Leisure in a research report on Friday. Citigroup reissued an “outperform” rating on shares of Travel + Leisure in a research report on Thursday. Finally, Morgan Stanley set a $68.00 price target on Travel + Leisure in a research report on Wednesday. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Travel + Leisure presently has an average rating of “Moderate Buy” and a consensus target price of $69.90.

Travel + Leisure Stock Up 0.1%

TNL opened at $65.21 on Monday. The firm has a market cap of $4.19 billion, a price-to-earnings ratio of 10.73, a price-to-earnings-growth ratio of 0.63 and a beta of 1.47. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $70.43. The business’s 50 day moving average is $61.47 and its two-hundred day moving average is $54.97.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.72 by $0.08. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. Travel + Leisure had a negative return on equity of 49.06% and a net margin of 10.36%.The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.57 earnings per share. Equities analysts expect that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Friday, September 12th were issued a $0.56 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.4%. Travel + Leisure’s payout ratio is presently 36.84%.

Insider Buying and Selling

In other news, Director George Herrera sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $60.48, for a total value of $133,056.00. Following the transaction, the director owned 559 shares of the company’s stock, valued at approximately $33,808.32. The trade was a 79.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Geoffrey Richards sold 1,404 shares of the business’s stock in a transaction that occurred on Wednesday, October 22nd. The shares were sold at an average price of $64.50, for a total value of $90,558.00. Following the completion of the transaction, the insider directly owned 139,615 shares in the company, valued at approximately $9,005,167.50. The trade was a 1.00% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,104 shares of company stock worth $1,296,114. 3.75% of the stock is currently owned by company insiders.

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.