Seven Eight Capital LP Sells 271 Shares of Travel + Leisure Co. (NYSE:TNL)

Seven Eight Capital LP lessened its stake in Travel + Leisure Co. (NYSE:TNL) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,758 shares of the company’s stock after selling 271 shares during the period. Seven Eight Capital LP’s holdings in Travel + Leisure were worth $934,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc bought a new stake in shares of Travel + Leisure in the 2nd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC lifted its position in Travel + Leisure by 2,759.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock worth $28,000 after purchasing an additional 607 shares during the period. Family Firm Inc. acquired a new stake in Travel + Leisure during the second quarter worth $31,000. Larson Financial Group LLC bought a new stake in Travel + Leisure in the 2nd quarter valued at $36,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Travel + Leisure in the 2nd quarter valued at $38,000. 87.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TNL has been the topic of a number of analyst reports. Tigress Financial upped their target price on shares of Travel + Leisure from $54.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, July 29th. The Goldman Sachs Group initiated coverage on Travel + Leisure in a research note on Wednesday. They issued a “neutral” rating and a $44.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut their target price on Travel + Leisure from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped their price target on Travel + Leisure from $53.00 to $63.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Truist Financial cut their price objective on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Travel + Leisure presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.22.

Travel + Leisure Stock Performance

Shares of TNL stock opened at $44.50 on Friday. The stock’s fifty day moving average is $44.00 and its 200-day moving average is $44.70. Travel + Leisure Co. has a 52 week low of $32.10 and a 52 week high of $49.91. The stock has a market capitalization of $3.17 billion, a PE ratio of 8.13, a PEG ratio of 0.57 and a beta of 1.62.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $0.13. Travel + Leisure had a net margin of 11.35% and a negative return on equity of 46.63%. The firm had revenue of $985.00 million for the quarter, compared to analyst estimates of $987.20 million. During the same quarter in the prior year, the firm earned $1.33 EPS. The company’s revenue was up 3.8% on a year-over-year basis. As a group, analysts forecast that Travel + Leisure Co. will post 5.67 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Friday, September 13th. Travel + Leisure’s dividend payout ratio is 36.83%.

Insider Buying and Selling at Travel + Leisure

In other news, Director George Herrera sold 2,193 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total transaction of $93,158.64. Following the completion of the sale, the director now owns 6,352 shares in the company, valued at $269,832.96. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director George Herrera sold 2,193 shares of Travel + Leisure stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total transaction of $93,158.64. Following the completion of the sale, the director now owns 6,352 shares in the company, valued at approximately $269,832.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Amandine Robin-Caplan sold 3,246 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $41.84, for a total transaction of $135,812.64. Following the completion of the transaction, the insider now owns 24,491 shares in the company, valued at $1,024,703.44. The disclosure for this sale can be found here. Corporate insiders own 4.02% of the company’s stock.

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.