Readystate Asset Management LP Acquires 11,528 Shares of Travel + Leisure Co. (NYSE:TNL)

Readystate Asset Management LP grew its holdings in Travel + Leisure Co. (NYSE:TNL) by 82.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,473 shares of the company’s stock after purchasing an additional 11,528 shares during the period. Readystate Asset Management LP’s holdings in Travel + Leisure were worth $996,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Aurora Investment Counsel raised its position in shares of Travel + Leisure by 4.1% in the fourth quarter. Aurora Investment Counsel now owns 27,696 shares of the company’s stock valued at $1,124,000 after purchasing an additional 1,081 shares during the period. Optimist Retirement Group LLC bought a new stake in shares of Travel + Leisure in the fourth quarter valued at approximately $221,000. Mercer Global Advisors Inc. ADV raised its position in shares of Travel + Leisure by 4.8% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 15,292 shares of the company’s stock valued at $598,000 after purchasing an additional 704 shares during the period. Baker Avenue Asset Management LP raised its position in shares of Travel + Leisure by 3.1% in the fourth quarter. Baker Avenue Asset Management LP now owns 111,238 shares of the company’s stock valued at $4,348,000 after purchasing an additional 3,304 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Travel + Leisure by 2.3% in the fourth quarter. Legal & General Group Plc now owns 116,944 shares of the company’s stock valued at $4,571,000 after purchasing an additional 2,678 shares during the period. Institutional investors own 87.54% of the company’s stock.

Travel + Leisure Stock Up 0.3 %

Shares of Travel + Leisure stock traded up $0.15 during trading on Thursday, reaching $43.72. The company’s stock had a trading volume of 537,122 shares, compared to its average volume of 538,078. Travel + Leisure Co. has a 52-week low of $32.10 and a 52-week high of $49.02. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 8.22, a PEG ratio of 1.19 and a beta of 1.63. The firm’s 50-day moving average is $45.12 and its two-hundred day moving average is $40.12.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $1.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.61. Travel + Leisure had a net margin of 10.59% and a negative return on equity of 43.77%. The company had revenue of $935.00 million during the quarter, compared to analysts’ expectations of $946.56 million. During the same quarter in the prior year, the company earned $1.30 EPS. The firm’s revenue was up 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Travel + Leisure Co. will post 5.4 EPS for the current year.

Travel + Leisure Increases Dividend

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

Insider Activity

In other news, Director George Herrera sold 2,969 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $45.33, for a total value of $134,584.77. Following the completion of the sale, the director now owns 2,193 shares of the company’s stock, valued at approximately $99,408.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Kimberly Marshall sold 4,953 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 54,657 shares in the company, valued at approximately $2,472,682.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director George Herrera sold 2,969 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $45.33, for a total transaction of $134,584.77. Following the sale, the director now owns 2,193 shares of the company’s stock, valued at $99,408.69. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,922 shares of company stock valued at $1,318,358. Corporate insiders own 4.02% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. JMP Securities assumed coverage on shares of Travel + Leisure in a report on Tuesday, February 13th. They set an “outperform” rating and a $50.00 target price on the stock. Jefferies Financial Group raised shares of Travel + Leisure from a “hold” rating to a “buy” rating and upped their target price for the stock from $37.00 to $57.00 in a report on Tuesday, January 2nd. Truist Financial upped their target price on shares of Travel + Leisure from $59.00 to $65.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Barclays upped their target price on shares of Travel + Leisure from $37.00 to $44.00 and gave the stock an “equal weight” rating in a report on Thursday, February 22nd. Finally, Mizuho assumed coverage on shares of Travel + Leisure in a report on Tuesday, March 26th. They set a “neutral” rating and a $55.00 target price on the stock. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.29.

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.