Proficio Capital Partners LLC Takes $1.57 Million Position in Travel + Leisure Co. (NYSE:TNL)

Proficio Capital Partners LLC acquired a new position in shares of Travel + Leisure Co. (NYSE:TNL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 31,128 shares of the company's stock, valued at approximately $1,570,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TNL. Algert Global LLC lifted its stake in Travel + Leisure by 168.9% during the third quarter. Algert Global LLC now owns 319,279 shares of the company's stock worth $14,712,000 after purchasing an additional 200,549 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Travel + Leisure by 21.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 792,979 shares of the company's stock worth $36,540,000 after buying an additional 138,153 shares during the last quarter. Barclays PLC boosted its stake in Travel + Leisure by 80.4% in the third quarter. Barclays PLC now owns 225,326 shares of the company's stock worth $10,383,000 after buying an additional 100,440 shares in the last quarter. FMR LLC grew its position in Travel + Leisure by 28.5% during the third quarter. FMR LLC now owns 261,599 shares of the company's stock valued at $12,054,000 after acquiring an additional 58,008 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Travel + Leisure by 5.3% during the fourth quarter. Bank of New York Mellon Corp now owns 905,667 shares of the company's stock worth $45,691,000 after acquiring an additional 45,447 shares in the last quarter. 87.54% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, Director George Herrera sold 6,336 shares of the business's stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total transaction of $296,524.80. Following the sale, the director now owns 2,759 shares of the company's stock, valued at $129,121.20. The trade was a 69.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Dean Brown bought 2,000 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were acquired at an average cost of $46.66 per share, with a total value of $93,320.00. Following the purchase, the insider now directly owns 408,706 shares of the company's stock, valued at approximately $19,070,221.96. This represents a 0.49 % increase in their position. The disclosure for this purchase can be found here. 4.02% of the stock is owned by insiders.

Travel + Leisure Trading Down 1.0 %

NYSE TNL traded down $0.49 during trading on Friday, hitting $47.12. The company had a trading volume of 1,046,945 shares, compared to its average volume of 577,292. The company's fifty day moving average is $53.37 and its 200-day moving average is $50.70. Travel + Leisure Co. has a one year low of $39.91 and a one year high of $58.95. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 8.07, a price-to-earnings-growth ratio of 0.67 and a beta of 1.61.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.68 by $0.04. The company had revenue of $971.00 million during the quarter, compared to the consensus estimate of $958.87 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. Travel + Leisure's revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.98 earnings per share. As a group, equities analysts anticipate that Travel + Leisure Co. will post 6.46 EPS for the current year.

Travel + Leisure Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Monday, March 17th. This is a positive change from Travel + Leisure's previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a dividend yield of 4.75%. Travel + Leisure's payout ratio is currently 38.36%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on TNL shares. Morgan Stanley began coverage on shares of Travel + Leisure in a research note on Monday, January 6th. They issued an "overweight" rating and a $67.00 price objective for the company. Tigress Financial lifted their price objective on Travel + Leisure from $64.00 to $70.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Truist Financial increased their target price on Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a report on Friday, March 7th. Stifel Nicolaus raised their price target on Travel + Leisure from $59.00 to $66.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, Barclays boosted their price objective on Travel + Leisure from $48.00 to $54.00 and gave the company an "underweight" rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $63.70.

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.