Envestnet Asset Management Inc. Acquires 8,765 Shares of Travel + Leisure Co. (NYSE:TNL)

Envestnet Asset Management Inc. raised its holdings in shares of Travel + Leisure Co. (NYSE:TNL) by 48.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,801 shares of the company’s stock after purchasing an additional 8,765 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Travel + Leisure were worth $1,593,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. BlackRock Inc. purchased a new position in Travel + Leisure during the 1st quarter worth $510,417,000. Factorial Partners LLC purchased a new position in Travel + Leisure during the 1st quarter worth $56,000,000. Iridian Asset Management LLC CT purchased a new position in Travel + Leisure during the 1st quarter worth $204,741,000. Boston Partners purchased a new position in Travel + Leisure during the 1st quarter worth $168,660,000. Finally, Nuveen Asset Management LLC purchased a new position in Travel + Leisure during the 1st quarter worth $162,459,000. Institutional investors and hedge funds own 87.32% of the company’s stock.

Shares of NYSE:TNL opened at $55.38 on Tuesday. The company’s 50-day moving average is $53.75 and its 200 day moving average is $59.57. The company has a market capitalization of $4.78 billion, a P/E ratio of 33.56 and a beta of 1.93. Travel + Leisure Co. has a fifty-two week low of $29.41 and a fifty-two week high of $68.26.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Wednesday, July 28th. The company reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.15. Travel + Leisure had a negative return on equity of 21.79% and a net margin of 5.33%. The business had revenue of $797.00 million for the quarter, compared to analysts’ expectations of $719.04 million. As a group, analysts predict that Travel + Leisure Co. will post 3.27 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Wednesday, September 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Tuesday, September 14th. Travel + Leisure’s dividend payout ratio is currently -127.66%.

A number of research firms have issued reports on TNL. Credit Suisse Group cut their price objective on shares of Travel + Leisure from $81.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, July 29th. Zacks Investment Research raised shares of Travel + Leisure from a “sell” rating to a “hold” rating in a report on Tuesday, August 17th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Travel + Leisure from $78.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, July 29th.

In related news, insider Michael Dean Brown purchased 1,000 shares of the firm’s stock in a transaction dated Friday, July 30th. The shares were purchased at an average cost of $52.10 per share, for a total transaction of $52,100.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George Herrera sold 650 shares of the company’s stock in a transaction dated Wednesday, August 18th. The shares were sold at an average price of $51.00, for a total value of $33,150.00. The disclosure for this sale can be found here. Insiders own 1.93% of the company’s stock.

Travel + Leisure Company Profile

Travel + Leisure Co is a membership and leisure travel company, with a portfolio of nearly 20 resort, travel club, and lifestyle travel brands. The company provides outstanding vacation experiences and travel inspiration to millions of owners, members, and subscribers every year through its products and services: Wyndham Destinations, the vacation ownership company with 230 vacation club resort locations across the globe; Panorama, the membership travel business that includes the vacation exchange company, industry travel technology, and subscription travel brands; and Travel + Leisure Group, featuring online and print travel content, online booking platforms and travel clubs, and branded consumer products.

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Institutional Ownership by Quarter for Travel + Leisure (NYSE:TNL)

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