CastleKnight Management LP Sells 15,500 Shares of Travel + Leisure Co. $TNL

CastleKnight Management LP lowered its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 17.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 73,700 shares of the company’s stock after selling 15,500 shares during the quarter. CastleKnight Management LP’s holdings in Travel + Leisure were worth $5,198,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of Travel + Leisure by 42.0% in the 1st quarter. Royal Bank of Canada now owns 91,184 shares of the company’s stock worth $4,222,000 after purchasing an additional 26,965 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of Travel + Leisure in the 1st quarter worth approximately $396,000. Millennium Management LLC lifted its stake in shares of Travel + Leisure by 129.5% in the 1st quarter. Millennium Management LLC now owns 413,505 shares of the company’s stock worth $19,141,000 after purchasing an additional 233,345 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Travel + Leisure by 97.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 200,286 shares of the company’s stock worth $9,271,000 after purchasing an additional 98,647 shares during the period. Finally, United Services Automobile Association bought a new position in shares of Travel + Leisure in the 1st quarter worth approximately $206,000. Institutional investors own 87.54% of the company’s stock.

Travel + Leisure Trading Up 1.1%

NYSE TNL opened at $75.97 on Thursday. Travel + Leisure Co. has a 12 month low of $47.74 and a 12 month high of $81.00. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 0.57 and a beta of 1.17. The company’s 50 day moving average is $69.37 and its two-hundred day moving average is $70.84.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, April 22nd. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.14. Travel + Leisure had a net margin of 5.85% and a negative return on equity of 48.06%. The company had revenue of $961.00 million for the quarter, compared to analysts’ expectations of $954.81 million. During the same quarter last year, the business earned $1.11 EPS. The firm’s revenue was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Travel + Leisure Co. will post 7.46 EPS for the current year.

Travel + Leisure Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 12th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, June 12th. This represents a $2.40 dividend on an annualized basis and a yield of 3.2%. Travel + Leisure’s dividend payout ratio (DPR) is presently 67.42%.

Insider Activity at Travel + Leisure

In other news, CFO Erik D. Hoag bought 1,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were bought at an average price of $65.67 per share, for a total transaction of $65,670.00. Following the purchase, the chief financial officer owned 1,000 shares in the company, valued at approximately $65,670. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George Herrera sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total transaction of $37,580.00. Following the sale, the director owned 1,353 shares in the company, valued at approximately $101,691.48. The trade was a 26.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 53,074 shares of company stock worth $3,907,122 in the last 90 days. Insiders own 4.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TNL. Citizens Jmp increased their price objective on shares of Travel + Leisure from $80.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 19th. Wells Fargo & Company lowered their price objective on shares of Travel + Leisure from $88.00 to $87.00 and set an “overweight” rating on the stock in a research note on Thursday, April 23rd. Stifel Nicolaus set a $89.00 price objective on shares of Travel + Leisure in a research note on Wednesday, February 18th. Wall Street Zen cut shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research note on Saturday, April 25th. Finally, Barclays lowered their price objective on shares of Travel + Leisure from $78.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 23rd. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.40.

Travel + Leisure Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.