Hotchkis & Wiley Capital Management LLC Reduces Holdings in Travel + Leisure Co. (NYSE:TNL)

Hotchkis & Wiley Capital Management LLC lessened its position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 269,410 shares of the company's stock after selling 10,800 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.39% of Travel + Leisure worth $12,414,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TNL. UMB Bank n.a. raised its position in Travel + Leisure by 1,948.1% in the third quarter. UMB Bank n.a. now owns 553 shares of the company's stock valued at $25,000 after purchasing an additional 526 shares during the period. Versant Capital Management Inc purchased a new stake in Travel + Leisure in the second quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its position in Travel + Leisure by 2,759.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 629 shares of the company's stock valued at $28,000 after purchasing an additional 607 shares during the period. Family Firm Inc. purchased a new stake in Travel + Leisure in the second quarter valued at approximately $31,000. Finally, Larson Financial Group LLC purchased a new stake in Travel + Leisure in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 87.54% of the company's stock.

Insider Activity

In related news, Director Stephen P. Holmes sold 80,000 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $47.55, for a total transaction of $3,804,000.00. Following the sale, the director now owns 362,947 shares in the company, valued at approximately $17,258,129.85. This trade represents a 18.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Amandine Robin-Caplan sold 3,246 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The stock was 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 approximately $1,024,703.44. This trade represents a 11.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 104,455 shares of company stock worth $5,075,834 over the last ninety days. 4.02% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on Travel + Leisure from $59.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Barclays upped their price objective on Travel + Leisure from $40.00 to $41.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Tigress Financial upped their price objective on Travel + Leisure from $58.00 to $64.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Truist Financial upped their price objective on Travel + Leisure from $60.00 to $61.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, The Goldman Sachs Group boosted their target price on shares of Travel + Leisure from $44.00 to $49.00 and gave the stock a "neutral" rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.80.

Travel + Leisure Stock Down 0.1 %

NYSE TNL traded down $0.06 during trading hours on Wednesday, hitting $55.18. 854,528 shares of the stock were exchanged, compared to its average volume of 584,112. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 9.37, a price-to-earnings-growth ratio of 0.80 and a beta of 1.63. Travel + Leisure Co. has a 12-month low of $36.09 and a 12-month high of $56.91. The stock has a 50-day moving average of $49.81 and a 200 day moving average of $46.10.

Travel + Leisure (NYSE:TNL - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.49 by $0.08. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. The company had revenue of $993.00 million during the quarter, compared to analysts' expectations of $1.01 billion. During the same period last year, the company posted $1.54 earnings per share. The firm's quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts expect that Travel + Leisure Co. will post 5.75 earnings per share for the current year.

Travel + Leisure Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.50 dividend. The ex-dividend date is Friday, December 13th. This represents a $2.00 dividend on an annualized basis and a yield of 3.62%. Travel + Leisure's dividend payout ratio (DPR) is presently 33.96%.

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.