Jeffrey Myers Sells 50,000 Shares of Travel + Leisure (NYSE:TNL) Stock

Travel + Leisure Co. (NYSE:TNL) insider Jeffrey Myers sold 50,000 shares of the company’s stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $66.38, for a total transaction of $3,319,000.00. Following the transaction, the insider owned 63,789 shares in the company, valued at approximately $4,234,313.82. This trade represents a 43.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Jeffrey Myers also recently made the following trade(s):

• On Thursday, October 23rd, Jeffrey Myers sold 28,764 shares of Travel + Leisure stock. The shares were sold at an average price of $66.77, for a total transaction of $1,920,572.28.

Travel + Leisure Trading Down 1.8%

Travel + Leisure stock opened at $64.61 on Wednesday. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $70.43. The company has a market cap of $4.16 billion, a PE ratio of 10.63, a PEG ratio of 0.64 and a beta of 1.47. The company’s 50-day moving average is $61.67 and its two-hundred day moving average is $55.29.

Travel + Leisure (NYSE:TNL) last released its earnings results on Wednesday, October 22nd. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.08. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company posted $1.57 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. Research analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Friday, September 12th were given a dividend of $0.56 per share. The ex-dividend date was Friday, September 12th. This represents a $2.24 dividend on an annualized basis and a yield of 3.5%. Travel + Leisure’s dividend payout ratio is presently 36.84%.

Institutional Trading of Travel + Leisure

Several hedge funds have recently bought and sold shares of TNL. Hillsdale Investment Management Inc. acquired a new stake in Travel + Leisure during the 2nd quarter worth approximately $27,000. Elequin Capital LP acquired a new stake in Travel + Leisure during the 1st quarter worth approximately $30,000. Parkside Financial Bank & Trust raised its holdings in shares of Travel + Leisure by 155.3% in the second quarter. Parkside Financial Bank & Trust now owns 628 shares of the company’s stock valued at $32,000 after purchasing an additional 382 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Travel + Leisure by 293.0% in the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock valued at $44,000 after purchasing an additional 715 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new stake in shares of Travel + Leisure in the second quarter valued at approximately $45,000. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on TNL shares. The Goldman Sachs Group upped their target price on shares of Travel + Leisure from $61.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Travel + Leisure in a research report on Wednesday, October 8th. Wall Street Zen downgraded shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Morgan Stanley set a $68.00 price target on shares of Travel + Leisure in a research report on Wednesday, October 22nd. Finally, Barclays increased their price target on shares of Travel + Leisure from $54.00 to $63.00 and gave the company an “underweight” rating in a research report on Thursday, October 23rd. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Travel + Leisure has a consensus rating of “Moderate Buy” and an average price target of $69.90.

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.