Balyasny Asset Management L.P. Purchases New Position in Travel + Leisure Co. (NYSE:TNL)

Balyasny Asset Management L.P. purchased a new stake in shares of Travel + Leisure Co. (NYSE:TNL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,612 shares of the company’s stock, valued at approximately $233,000.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Jones Financial Companies Lllp purchased a new position in shares of Travel + Leisure during the fourth quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB raised its holdings in Travel + Leisure by 314.4% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock worth $33,000 after purchasing an additional 503 shares in the last quarter. Natixis bought a new position in Travel + Leisure in the 4th quarter worth $37,000. UMB Bank n.a. raised its holdings in Travel + Leisure by 36.9% in the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock worth $38,000 after purchasing an additional 204 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Travel + Leisure by 30.6% in 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 in the last quarter. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Travel + Leisure Trading Up 0.8%

Travel + Leisure stock opened at $51.12 on Friday. The business’s fifty day simple moving average is $45.35 and its two-hundred day simple moving average is $50.60. Travel + Leisure Co. has a 12 month low of $37.77 and a 12 month high of $58.95. The company has a market capitalization of $3.39 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $934.00 million during the quarter, compared to analyst estimates of $933.08 million. During the same period in the previous year, the business earned $0.97 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were issued a $0.56 dividend. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a yield of 4.38%. The ex-dividend date of this dividend was Monday, March 17th. Travel + Leisure’s payout ratio is presently 37.40%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Morgan Stanley lowered their price objective on shares of Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. The Goldman Sachs Group lowered their price objective on shares of Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Tigress Financial raised their price objective on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Mizuho restated a “neutral” rating and issued a $64.00 price objective (up from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. Finally, Barclays lowered their price objective on shares of Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating for the company in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Travel + Leisure currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.20.

Travel + Leisure 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.