Picton Mahoney Asset Management Raises Stake in Travel + Leisure Co. (NYSE:TNL)

Picton Mahoney Asset Management lifted its position in shares of Travel + Leisure Co. (NYSE:TNL) by 31.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,721 shares of the company’s stock after purchasing an additional 2,577 shares during the quarter. Picton Mahoney Asset Management’s holdings in Travel + Leisure were worth $541,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TNL. Jones Financial Companies Lllp purchased a new stake in shares of Travel + Leisure during the 4th quarter worth about $25,000. Versant Capital Management Inc grew its holdings in shares of 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 purchasing an additional 210 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in shares of 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 purchasing an additional 503 shares during the period. UMB Bank n.a. grew its holdings in shares of 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 purchasing an additional 204 shares during the period. Finally, Smartleaf Asset Management LLC boosted 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 acquiring an additional 181 shares during the period. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Insider Buying and Selling

In other Travel + Leisure news, insider Michael Dean Brown purchased 2,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was bought at an average price of $46.66 per share, with a total value of $93,320.00. Following the completion of the purchase, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.02% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Stifel Nicolaus upped their price target on Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. The Goldman Sachs Group upped their price target on Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Bank of America upgraded Travel + Leisure from an “underperform” rating to a “buy” rating and upped their price target for the stock from $40.00 to $60.00 in a report on Monday, January 27th. Tigress Financial upped their target price on Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. upped their target price on Travel + Leisure from $56.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Travel + Leisure presently has an average rating of “Moderate Buy” and a consensus target price of $63.70.

Travel + Leisure Trading Up 3.0 %

TNL stock opened at $48.04 on Friday. The firm has a market cap of $3.20 billion, a P/E ratio of 8.23, a P/E/G ratio of 0.67 and a beta of 1.61. Travel + Leisure Co. has a 12-month low of $39.91 and a 12-month high of $58.95. The stock’s 50 day simple moving average is $53.70 and its 200 day simple moving average is $50.63.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.04. The firm had revenue of $971.00 million during the quarter, compared to the consensus estimate of $958.87 million. Travel + Leisure had a negative return on equity of 45.75% and a net margin of 10.63%. The firm’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.98 EPS. On average, research analysts forecast that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a dividend of $0.56 per share. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date is Monday, March 17th. Travel + Leisure’s dividend payout ratio is presently 38.36%.

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.