Iridian Asset Management LLC CT Has $18.17 Million Stock Holdings in Travel + Leisure Co. $TNL

Iridian Asset Management LLC CT decreased its position in shares of Travel + Leisure Co. (NYSE:TNL) by 30.4% in the third quarter, HoldingsChannel reports. The fund owned 305,415 shares of the company’s stock after selling 133,235 shares during the quarter. Travel + Leisure makes up 7.2% of Iridian Asset Management LLC CT’s portfolio, making the stock its 3rd largest position. Iridian Asset Management LLC CT’s holdings in Travel + Leisure were worth $18,169,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of TNL. AQR Capital Management LLC increased its position in shares of Travel + Leisure by 46.8% during the second quarter. AQR Capital Management LLC now owns 2,682,604 shares of the company’s stock worth $138,449,000 after purchasing an additional 855,151 shares in the last quarter. LSV Asset Management grew its stake in Travel + Leisure by 69.0% during the 2nd quarter. LSV Asset Management now owns 1,615,402 shares of the company’s stock worth $83,371,000 after buying an additional 659,293 shares during the last quarter. Norges Bank acquired a new position in Travel + Leisure during the 2nd quarter valued at about $50,934,000. Swedbank AB raised its stake in Travel + Leisure by 12.9% in the second quarter. Swedbank AB now owns 774,499 shares of the company’s stock valued at $39,972,000 after buying an additional 88,271 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Travel + Leisure by 6.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 687,960 shares of the company’s stock valued at $35,506,000 after buying an additional 42,934 shares during the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director George Herrera sold 559 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $68.18, for a total transaction of $38,112.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Geoffrey Richards sold 62,525 shares of Travel + Leisure stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $65.17, for a total value of $4,074,754.25. Following the transaction, the insider owned 39,604 shares of the company’s stock, valued at approximately $2,580,992.68. This represents a 61.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 198,776 shares of company stock worth $13,080,628 over the last ninety days. 3.75% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Barclays set a $70.00 price target on Travel + Leisure and gave the stock an “equal weight” rating in a research note on Wednesday, December 17th. Morgan Stanley set a $68.00 target price on shares of Travel + Leisure in a research report on Wednesday, October 22nd. Wall Street Zen lowered shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Citigroup reiterated an “outperform” rating on shares of Travel + Leisure in a research note on Thursday, October 23rd. Finally, Truist Financial boosted their price objective on shares of Travel + Leisure from $70.00 to $71.00 and gave the company a “buy” rating in a report on Friday, November 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.22.

Travel + Leisure Price Performance

NYSE:TNL opened at $75.04 on Monday. The firm has a market capitalization of $4.83 billion, a P/E ratio of 12.34, a PEG ratio of 0.53 and a beta of 1.38. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $76.21. The company’s fifty day moving average price is $68.46 and its 200-day moving average price is $63.14.

Travel + Leisure (NYSE:TNL) last posted its earnings results on Wednesday, October 22nd. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.08. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm posted $1.57 earnings per share. The firm’s quarterly revenue was up 5.1% on a year-over-year basis. Equities analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, December 12th. Travel + Leisure’s payout ratio is 36.84%.

Travel + Leisure Company 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.