Travel + Leisure Co. (NYSE:TNL - Get Free Report) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 1,670,000 shares, a decrease of 22.7% from the August 31st total of 2,160,000 shares. Based on an average trading volume of 653,400 shares, the short-interest ratio is presently 2.6 days. Currently, 2.5% of the company's shares are short sold.
In related news, Director George Herrera sold 2,193 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total value of $93,158.64. Following the completion of the transaction, the director now directly owns 6,352 shares in the company, valued at $269,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director George Herrera sold 2,193 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total value of $93,158.64. Following the completion of the transaction, the director now directly owns 6,352 shares in the company, valued at $269,832.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Amandine Robin-Caplan sold 3,246 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $41.84, for a total value of $135,812.64. Following the completion of the transaction, the insider now owns 24,491 shares of the company's stock, valued at $1,024,703.44. The disclosure for this sale can be found here. 4.02% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Travel + Leisure during the fourth quarter worth about $34,967,000. Intech Investment Management LLC grew its holdings in shares of Travel + Leisure by 89.9% during the fourth quarter. Intech Investment Management LLC now owns 11,412 shares of the company's stock worth $446,000 after purchasing an additional 5,403 shares during the last quarter. Allianz Asset Management GmbH purchased a new position in shares of Travel + Leisure during the fourth quarter worth about $2,452,000. Bank of Nova Scotia purchased a new position in shares of Travel + Leisure during the fourth quarter worth about $4,496,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Travel + Leisure during the fourth quarter worth about $1,066,000. 87.54% of the stock is currently owned by institutional investors and hedge funds.
TNL has been the topic of a number of research reports. Tigress Financial upped their price target on Travel + Leisure from $54.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. JPMorgan Chase & Co. upped their price target on Travel + Leisure from $53.00 to $63.00 and gave the stock an "overweight" rating in a research note on Friday, July 19th. The Goldman Sachs Group initiated coverage on Travel + Leisure in a research note on Wednesday, September 18th. They set a "neutral" rating and a $44.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on Travel + Leisure from $65.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, July 25th. Finally, Barclays cut Travel + Leisure from an "equal weight" rating to an "underweight" rating and reduced their price objective for the company from $46.00 to $40.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, Travel + Leisure currently has an average rating of "Moderate Buy" and a consensus target price of $54.33.
Read Our Latest Research Report on Travel + Leisure
Travel + Leisure stock traded up $0.65 during midday trading on Friday, reaching $46.59. The company's stock had a trading volume of 851,967 shares, compared to its average volume of 589,384. Travel + Leisure has a fifty-two week low of $32.10 and a fifty-two week high of $49.91. The company has a market cap of $3.25 billion, a P/E ratio of 8.58, a P/E/G ratio of 0.63 and a beta of 1.62. The business has a 50-day simple moving average of $43.67 and a 200-day simple moving average of $44.72.
Travel + Leisure (NYSE:TNL - Get Free Report) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.13. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 11.35%. The company had revenue of $985.00 million for the quarter, compared to analysts' expectations of $987.20 million. During the same period last year, the firm earned $1.33 earnings per share. Travel + Leisure's quarterly revenue was up 3.8% on a year-over-year basis. As a group, equities analysts forecast that Travel + Leisure will post 5.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.29%. The ex-dividend date is Friday, September 13th. Travel + Leisure's dividend payout ratio is presently 36.83%.
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.
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