Renaissance Technologies LLC Purchases New Stake in Travel + Leisure Co. (NYSE:TNL)

Renaissance Technologies LLC acquired a new position in shares of Travel + Leisure Co. (NYSE:TNL) during the fourth quarter, Holdings Channel reports. The fund acquired 19,000 shares of the company’s stock, valued at approximately $959,000.

Other hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in Travel + Leisure during the 4th quarter worth $25,000. Versant Capital Management Inc boosted its holdings in Travel + Leisure by 49.2% during the 4th quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock worth $32,000 after acquiring an additional 210 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Travel + Leisure by 314.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock worth $33,000 after acquiring an additional 503 shares during the last quarter. UMB Bank n.a. boosted its holdings in Travel + Leisure by 36.9% during the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock worth $38,000 after acquiring an additional 204 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in shares of Travel + Leisure by 30.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 772 shares of the company’s stock worth $39,000 after purchasing an additional 181 shares during the period. 87.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating on the stock in a research report on Monday, April 14th. Mizuho restated a “neutral” rating and set a $64.00 price target (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Bank of America upgraded shares of Travel + Leisure from an “underperform” rating to a “buy” rating and raised their price target for the stock from $40.00 to $60.00 in a research note on Monday, January 27th. Truist Financial raised their price target on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a research note on Friday, March 7th. Finally, Barclays decreased their price target on shares of Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating for the company in a research note on Thursday, April 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $59.20.

Insider Buying and Selling at Travel + Leisure

In related news, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the transaction, the director now owns 2,759 shares in the company, valued at $129,121.20. This trade represents a 69.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Dean Brown bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the transaction, the insider now owns 408,706 shares in the company, valued at $19,070,221.96. This trade represents a 0.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.75% of the company’s stock.

Travel + Leisure Trading Down 0.6 %

TNL opened at $43.93 on Thursday. The company has a 50 day moving average of $46.69 and a 200 day moving average of $50.46. The company has a market cap of $2.92 billion, a PE ratio of 7.52, a price-to-earnings-growth ratio of 0.67 and a beta of 1.40. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $58.95.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings results on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.10 by $0.01. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The firm had revenue of $934.00 million during the quarter, compared to the consensus estimate of $933.08 million. During the same period last year, the firm earned $0.97 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Research analysts forecast that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a yield of 5.10%. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, March 17th. Travel + Leisure’s dividend payout ratio (DPR) is presently 37.40%.

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.