SummitTX Capital L.P. Makes New Investment in Travel + Leisure Co. $TNL

SummitTX Capital L.P. acquired a new stake in shares of Travel + Leisure Co. (NYSE:TNL) during the 1st quarter, HoldingsChannel reports. The fund acquired 20,235 shares of the company’s stock, valued at approximately $1,400,000.

Several other institutional investors have also modified their holdings of TNL. Danske Bank A S acquired a new position in shares of Travel + Leisure during the 3rd quarter worth about $30,000. N.E.W. Advisory Services LLC acquired a new stake in Travel + Leisure in the 4th quarter worth about $43,000. Assetmark Inc. boosted its holdings in Travel + Leisure by 43.8% in the 1st quarter. Assetmark Inc. now owns 627 shares of the company’s stock worth $43,000 after buying an additional 191 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Travel + Leisure by 293.0% during the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock valued at $44,000 after acquiring an additional 715 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Travel + Leisure by 27.2% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,241 shares of the company’s stock valued at $88,000 after acquiring an additional 265 shares in the last quarter. Institutional investors and hedge funds own 87.54% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TNL shares. Morgan Stanley lifted their price target on Travel + Leisure from $78.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Zacks Research raised Travel + Leisure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Wells Fargo & Company raised 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. The Goldman Sachs Group upgraded shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Monday, June 1st. Finally, Citigroup reissued a “market outperform” rating on shares of Travel + Leisure in a research note on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $86.90.

Travel + Leisure Stock Down 0.9%

Shares of TNL opened at $77.71 on Thursday. Travel + Leisure Co. has a 52-week low of $56.66 and a 52-week high of $81.00. The company has a 50-day simple moving average of $73.38 and a 200-day simple moving average of $71.75. The company has a market capitalization of $4.76 billion, a PE ratio of 21.23, a P/E/G ratio of 0.59 and a beta of 1.16.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, July 22nd. The company reported $1.88 EPS for the quarter, hitting analysts’ consensus estimates of $1.88. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the firm earned $1.65 earnings per share. The firm’s revenue was up 4.4% on a year-over-year basis. On average, research analysts anticipate that Travel + Leisure Co. will post 7.58 EPS for the current year.

Travel + Leisure Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend was Friday, June 12th. This represents a $2.40 annualized dividend and a dividend yield of 3.1%. Travel + Leisure’s payout ratio is 65.57%.

Insider Transactions at Travel + Leisure

In related news, Director George Herrera sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $75.16, for a total value of $37,580.00. Following the sale, the director owned 1,353 shares in the company, valued at $101,691.48. This represents a 26.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kimberly Marshall sold 32,691 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $75.00, for a total value of $2,451,825.00. The disclosure for this sale is available in the SEC filing. Insiders sold 97,435 shares of company stock worth $7,166,474 over the last quarter. Insiders own 4.01% of the company’s stock.

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.