Travel + Leisure (NYSE:TNL) Shares Gap Up – Here’s What Happened

Travel + Leisure Co. (NYSE:TNL)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $45.44, but opened at $47.25. Travel + Leisure shares last traded at $48.58, with a volume of 132,843 shares trading hands.

Analyst Ratings Changes

Several analysts have recently commented on TNL shares. Deutsche Bank Aktiengesellschaft decreased 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. The Goldman Sachs Group assumed coverage on shares of Travel + Leisure in a report on Wednesday, September 18th. They issued a “neutral” rating and a $44.00 target price on the stock. Barclays cut Travel + Leisure from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $46.00 to $40.00 in a report on Thursday, September 26th. Tigress Financial increased their price objective on shares of Travel + Leisure from $54.00 to $58.00 and gave the company a “buy” rating in a report on Monday, July 29th. Finally, Truist Financial cut their price target on shares of Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Travel + Leisure currently has an average rating of “Moderate Buy” and a consensus price target of $54.33.

Travel + Leisure Stock Up 4.2 %

The business has a fifty day moving average price of $44.37 and a 200-day moving average price of $44.58. The company has a market cap of $3.37 billion, a P/E ratio of 8.83, a PEG ratio of 0.64 and a beta of 1.62.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, July 24th. The company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.13. The business had revenue of $985.00 million for the quarter, compared to analyst estimates of $987.20 million. Travel + Leisure had a negative return on equity of 46.63% and a net margin of 11.35%. Travel + Leisure’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.33 earnings per share. As a group, research analysts expect that Travel + Leisure Co. will post 5.67 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.22%. The ex-dividend date was Friday, September 13th. Travel + Leisure’s dividend payout ratio is currently 36.83%.

Insider Transactions at Travel + Leisure

In other news, Director George Herrera sold 2,193 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total value of $93,158.64. Following the transaction, the director now directly owns 6,352 shares of the company’s stock, valued at $269,832.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director George Herrera sold 2,193 shares of Travel + Leisure stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $42.48, for a total value of $93,158.64. Following the completion of the sale, the director now owns 6,352 shares of the company’s stock, valued at approximately $269,832.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Amandine Robin-Caplan sold 3,246 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $41.84, for a total transaction of $135,812.64. Following the completion of the sale, the insider now directly owns 24,491 shares of the company’s stock, valued at $1,024,703.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Travel + Leisure

A number of hedge funds have recently modified their holdings of the stock. UMB Bank n.a. grew its stake in Travel + Leisure by 1,948.1% in the 3rd quarter. UMB Bank n.a. now owns 553 shares of the company’s stock worth $25,000 after buying an additional 526 shares in the last quarter. Versant Capital Management Inc purchased a new position in Travel + Leisure in the 2nd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC raised its holdings in Travel + Leisure by 2,759.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company’s stock worth $28,000 after purchasing an additional 607 shares in the last quarter. Family Firm Inc. bought a new stake in Travel + Leisure during the 2nd quarter valued at approximately $31,000. Finally, Larson Financial Group LLC purchased a new position in shares of Travel + Leisure during the 2nd quarter worth approximately $36,000. Institutional investors own 87.54% 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.