Freedom Investment Management Inc. Has $453,000 Stake in Travel + Leisure Co. (NYSE:TNL)

Freedom Investment Management Inc. raised its holdings in Travel + Leisure Co. (NYSE:TNL) by 67.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,830 shares of the company’s stock after buying an additional 3,965 shares during the period. Freedom Investment Management Inc.’s holdings in Travel + Leisure were worth $453,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC raised its holdings in Travel + Leisure by 440.7% during the second quarter. Millennium Management LLC now owns 614,141 shares of the company’s stock worth $27,624,000 after acquiring an additional 500,554 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Travel + Leisure by 318.4% in the 2nd quarter. Acadian Asset Management LLC now owns 405,252 shares of the company’s stock valued at $18,217,000 after buying an additional 308,391 shares during the last quarter. Algert Global LLC grew its stake in shares of Travel + Leisure by 168.9% in the third quarter. Algert Global LLC now owns 319,279 shares of the company’s stock valued at $14,712,000 after buying an additional 200,549 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Travel + Leisure during the second quarter worth $7,480,000. Finally, Charles Schwab Investment Management Inc. raised its position in Travel + Leisure by 21.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company’s stock worth $36,540,000 after acquiring an additional 138,153 shares in the last quarter. 87.54% of the stock is owned by institutional investors.

Travel + Leisure Trading Up 0.9 %

Shares of NYSE TNL opened at $55.87 on Friday. The stock has a 50-day moving average price of $49.19 and a two-hundred day moving average price of $45.89. Travel + Leisure Co. has a 12 month low of $35.41 and a 12 month high of $56.91. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 0.80 and a beta of 1.61.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.49 by $0.08. The business had revenue of $993.00 million during the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. The firm’s revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 EPS. On average, sell-side 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 announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.00 annualized dividend and a yield of 3.58%. Travel + Leisure’s dividend payout ratio is presently 33.96%.

Insiders Place Their Bets

In other news, insider Amandine Robin-Caplan sold 3,246 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $41.84, for a total transaction of $135,812.64. Following the completion of the sale, the insider now owns 24,491 shares of the company’s stock, valued at $1,024,703.44. This trade represents a 11.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Geoffrey Richards sold 9,400 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $56.56, for a total transaction of $531,664.00. Following the completion of the sale, the insider now owns 111,202 shares of the company’s stock, valued at $6,289,585.12. The trade was a 7.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,455 shares of company stock valued at $5,075,834 in the last ninety days. 4.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Travel + Leisure from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Tigress Financial increased their target price on Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Truist Financial lifted their price objective on shares of Travel + Leisure from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus increased their target price on shares of Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Barclays upped their target price on Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $56.80.

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.