GMT Capital Corp Trims Stock Position in Travel + Leisure Co. (NYSE:TNL)

GMT Capital Corp decreased its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 23.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,659,341 shares of the company's stock after selling 808,500 shares during the period. Travel + Leisure makes up approximately 6.5% of GMT Capital Corp's holdings, making the stock its 4th largest holding. GMT Capital Corp owned approximately 3.89% of Travel + Leisure worth $134,164,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC raised its holdings in shares of Travel + Leisure by 80.4% during the 3rd quarter. Barclays PLC now owns 225,326 shares of the company's stock valued at $10,383,000 after buying an additional 100,440 shares in the last quarter. Oak Thistle LLC bought a new position in Travel + Leisure during the fourth quarter valued at approximately $1,288,000. Atlas Capital Advisors Inc. raised its stake in shares of Travel + Leisure by 1,141.0% during the fourth quarter. Atlas Capital Advisors Inc. now owns 11,765 shares of the company's stock worth $594,000 after acquiring an additional 10,817 shares in the last quarter. Amundi lifted its holdings in shares of Travel + Leisure by 22.8% in the 4th quarter. Amundi now owns 5,940 shares of the company's stock worth $302,000 after acquiring an additional 1,103 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Travel + Leisure by 15.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company's stock valued at $46,169,000 after purchasing an additional 122,173 shares in the last quarter. Institutional investors own 87.54% of the company's stock.

Insiders Place Their Bets

In other news, insider Michael Dean Brown acquired 2,000 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was acquired at an average price of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the acquisition, the insider now owns 408,706 shares in the company, valued at $19,070,221.96. This trade represents a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George Herrera sold 6,336 shares of the firm's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the transaction, the director now directly owns 2,759 shares of the company's stock, valued at $129,121.20. This represents a 69.66 % decrease in their position. The disclosure for this sale can be found here. 4.02% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on TNL. Tigress Financial lifted their target price on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. The Goldman Sachs Group decreased their price objective on Travel + Leisure from $62.00 to $44.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Mizuho restated a "neutral" rating and set a $64.00 target price (up from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. Barclays raised their price target on Travel + Leisure from $48.00 to $54.00 and gave the stock an "underweight" rating in a research report on Thursday, February 20th. Finally, Truist Financial boosted their price objective on Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $60.70.

Travel + Leisure Stock Performance

Shares of TNL stock opened at $42.47 on Wednesday. Travel + Leisure Co. has a fifty-two week low of $37.77 and a fifty-two week high of $58.95. The firm has a market cap of $2.82 billion, a P/E ratio of 7.27, a P/E/G ratio of 0.67 and a beta of 1.40. The business's 50 day moving average price is $48.24 and its 200-day moving average price is $50.57.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.04. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The business had revenue of $971.00 million for the quarter, compared to analysts' expectations of $958.87 million. During the same quarter in the previous year, the business posted $1.98 earnings per share. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year. As a group, equities analysts predict that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $2.24 annualized dividend and a dividend yield of 5.27%. This is a boost from Travel + Leisure's previous quarterly dividend of $0.50. Travel + Leisure's payout ratio is currently 38.36%.

Travel + Leisure 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.

Want to see what other hedge funds are holding TNL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Travel + Leisure Co. (NYSE:TNL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.