Freestone Grove Partners LP Invests $2.08 Million in Travel + Leisure Co. $TNL

Freestone Grove Partners LP bought a new stake in shares of Travel + Leisure Co. (NYSE:TNL) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 27,199 shares of the company’s stock, valued at approximately $2,079,000.

Several other large investors have also recently made changes to their positions in TNL. BlackRock Inc. purchased a new stake in Travel + Leisure during the second quarter worth $543,957,000. Norges Bank purchased a new position in Travel + Leisure in the fourth quarter valued at $62,162,000. AQR Capital Management LLC increased its holdings in Travel + Leisure by 46.8% in the second quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock valued at $138,449,000 after buying an additional 855,151 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Travel + Leisure in the second quarter worth about $55,087,000. Finally, Gotham Asset Management LLC raised its position in shares of Travel + Leisure by 139.2% in the fourth quarter. Gotham Asset Management LLC now owns 631,336 shares of the company’s stock worth $44,528,000 after acquiring an additional 367,356 shares during the period. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Travel + Leisure

In other news, Director George Herrera sold 500 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the sale, the director directly owned 1,353 shares of the company’s stock, valued at $101,691.48. The trade was a 26.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Thomas Michael Duncan sold 20,000 shares of Travel + Leisure stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $74.16, for a total value of $1,483,200.00. Following the completion of the sale, the chief accounting officer directly owned 5,307 shares in the company, valued at $393,567.12. This represents a 79.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 115,135 shares of company stock worth $8,505,899. 4.01% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on TNL. Zacks Research lowered shares of Travel + Leisure from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 19th. Mizuho upped their price target on Travel + Leisure from $105.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Wells Fargo & Company increased their price target on Travel + Leisure from $87.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Susquehanna initiated coverage on Travel + Leisure in a report on Tuesday, August 18th. They issued a “positive” rating and a $95.00 price objective on the stock. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Travel + Leisure in a research note on Tuesday, July 21st. Eleven analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.82.

Travel + Leisure Stock Down 0.6%

TNL stock opened at $71.27 on Friday. The stock has a market capitalization of $4.36 billion, a P/E ratio of 19.47, a P/E/G ratio of 0.49 and a beta of 1.17. The firm has a 50-day simple moving average of $74.84 and a 200-day simple moving average of $72.15. Travel + Leisure Co. has a 52 week low of $58.07 and a 52 week high of $81.00.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, hitting the consensus estimate of $1.88. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.65 EPS. On average, analysts expect that Travel + Leisure Co. will post 7.7 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.4%. Travel + Leisure’s dividend payout ratio is presently 65.57%.

About Travel + Leisure

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.