Maverick Capital Ltd. Buys New Holdings in Travel + Leisure Co. $TNL

Maverick Capital Ltd. purchased a new position in Travel + Leisure Co. (NYSE:TNL) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,644 shares of the company’s stock, valued at approximately $1,221,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Quantinno Capital Management LP lifted its stake in Travel + Leisure by 21.7% during the 1st quarter. Quantinno Capital Management LP now owns 1,305,515 shares of the company’s stock valued at $90,329,000 after acquiring an additional 232,711 shares during the period. SummitTX Capital L.P. acquired a new stake in shares of Travel + Leisure in the first quarter worth $1,400,000. Lazard Asset Management LLC increased its stake in shares of Travel + Leisure by 17.0% in the first quarter. Lazard Asset Management LLC now owns 37,522 shares of the company’s stock worth $2,596,000 after acquiring an additional 5,456 shares during the period. Van Diest Capital LLC purchased a new position in shares of Travel + Leisure during the first quarter worth $209,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Travel + Leisure by 6.0% during the first quarter. Public Employees Retirement System of Ohio now owns 19,588 shares of the company’s stock worth $1,355,000 after purchasing an additional 1,104 shares during the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Morgan Stanley upped their price target on shares of Travel + Leisure from $78.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Mizuho lifted their price objective on Travel + Leisure from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Wall Street Zen cut Travel + Leisure from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Wells Fargo & Company boosted their price objective on Travel + Leisure from $87.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Finally, The Goldman Sachs Group upgraded Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 target price on the stock in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $86.90.

Insider Activity

In related news, Director Denny Marie Post sold 2,500 shares of the company’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $63.83, for a total value of $159,575.00. Following the completion of the transaction, the director owned 1,977 shares of the company’s stock, valued at approximately $126,191.91. This represents a 55.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George Herrera sold 500 shares of the company’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the completion of the transaction, 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 position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 97,435 shares of company stock valued at $7,166,474. Insiders own 4.01% of the company’s stock.

Travel + Leisure Price Performance

TNL opened at $78.39 on Wednesday. The firm has a fifty day moving average price of $73.12 and a 200 day moving average price of $71.73. Travel + Leisure Co. has a 1 year low of $56.66 and a 1 year high of $81.00. The stock has a market cap of $4.80 billion, a P/E ratio of 21.42, a P/E/G ratio of 0.57 and a beta of 1.16.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.88. The firm had revenue of $1.06 billion for 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 firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 earnings per share. Equities analysts expect that Travel + Leisure Co. will post 7.58 EPS for the current year.

Travel + Leisure Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, June 12th. Travel + Leisure’s dividend payout ratio is presently 65.57%.

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.