Cornercap Investment Counsel Inc. Reduces Stake in Travel + Leisure Co. (NYSE:TNL)

Cornercap Investment Counsel Inc. cut its stake in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 74.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,844 shares of the company's stock after selling 17,354 shares during the quarter. Cornercap Investment Counsel Inc.'s holdings in Travel + Leisure were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Swedbank AB bought a new stake in shares of Travel + Leisure in the 1st quarter worth approximately $33,598,000. Millennium Management LLC grew its stake in shares of Travel + Leisure by 440.7% during the second quarter. Millennium Management LLC now owns 614,141 shares of the company's stock valued at $27,624,000 after buying an additional 500,554 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Travel + Leisure by 318.4% in the 2nd quarter. Acadian Asset Management LLC now owns 405,252 shares of the company's stock valued at $18,217,000 after acquiring an additional 308,391 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Travel + Leisure during the 2nd quarter valued at about $7,480,000. Finally, LSV Asset Management increased its stake in Travel + Leisure by 23.1% in the 2nd quarter. LSV Asset Management now owns 725,381 shares of the company's stock worth $32,628,000 after purchasing an additional 136,281 shares during the period. 87.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TNL shares. Barclays raised their target price on shares of Travel + Leisure from $40.00 to $41.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. Tigress Financial boosted their target price on Travel + Leisure from $58.00 to $64.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their price target on Travel + Leisure from $65.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, July 25th. The Goldman Sachs Group boosted their price objective on shares of Travel + Leisure from $44.00 to $49.00 and gave the company a "neutral" rating in a research report on Thursday, October 24th. Finally, Truist Financial dropped their target price on shares of Travel + Leisure from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Thursday, September 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $55.67.

Travel + Leisure Price Performance

NYSE:TNL opened at $53.78 on Monday. The firm has a market capitalization of $3.68 billion, a P/E ratio of 9.13, a PEG ratio of 0.78 and a beta of 1.61. Travel + Leisure Co. has a one year low of $35.41 and a one year high of $54.79. The company's 50-day simple moving average is $47.01 and its 200 day simple moving average is $45.31.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.49 by $0.08. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The firm had revenue of $993.00 million for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the firm posted $1.54 EPS. The business's revenue for the quarter was up .7% compared to the same quarter last year. On average, equities research analysts expect that Travel + Leisure Co. will post 5.77 earnings per share for the current fiscal year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.72%. Travel + Leisure's dividend payout ratio is currently 33.96%.

Insider Activity

In other news, 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 sale, the insider now owns 24,491 shares in the company, valued at $1,024,703.44. This represents a 11.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director George Herrera sold 2,193 shares of the firm's 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 sale, the director now directly owns 6,352 shares of the company's stock, valued at $269,832.96. This trade represents a 25.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 95,055 shares of company stock worth $4,544,170 over the last three months. 4.02% of the stock is currently owned by corporate insiders.

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.