Travel + Leisure Co. (NYSE:TNL) Sees Significant Increase in Short Interest

Travel + Leisure Co. (NYSE:TNL - Get Free Report) was the recipient of a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 1,560,000 shares, an increase of 16.4% from the February 13th total of 1,340,000 shares. Based on an average trading volume of 591,600 shares, the short-interest ratio is presently 2.6 days. Currently, 2.4% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Travel + Leisure from $56.00 to $63.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. The Goldman Sachs Group lifted their target price on Travel + Leisure from $49.00 to $59.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Mizuho reiterated a "neutral" rating and set a $64.00 price target (up from $55.00) on shares of Travel + Leisure in a report on Thursday, February 20th. Truist Financial lifted their price target on Travel + Leisure from $61.00 to $72.00 and gave the company a "buy" rating in a report on Friday, March 7th. Finally, Bank of America upgraded Travel + Leisure from an "underperform" rating to a "buy" rating and boosted their target price for the stock from $40.00 to $60.00 in a report on Monday, January 27th. One 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 stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $63.70.

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Travel + Leisure Price Performance

TNL stock traded down $0.49 during mid-day trading on Friday, reaching $47.12. The company had a trading volume of 1,046,945 shares, compared to its average volume of 577,108. The stock has a 50 day simple moving average of $53.37 and a two-hundred day simple moving average of $50.75. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 8.07, a PEG ratio of 0.67 and a beta of 1.61. Travel + Leisure has a 52 week low of $39.91 and a 52 week high of $58.95.

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

Travel + Leisure Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 4.75%. 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. Travel + Leisure's dividend payout ratio (DPR) is 38.36%.

Insider Buying and Selling

In other news, insider Michael Dean Brown bought 2,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $46.66 per share, with a total value of $93,320.00. Following the completion of the acquisition, the insider now directly owns 408,706 shares in the company, valued at approximately $19,070,221.96. The trade was a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George Herrera sold 6,336 shares of Travel + Leisure stock in a transaction dated Tuesday, March 18th. The stock was 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 in the company, valued at approximately $129,121.20. The trade was a 69.66 % 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.

Hedge Funds Weigh In On Travel + Leisure

Hedge funds and other institutional investors have recently modified their holdings of the business. Atria Investments Inc grew its position in Travel + Leisure by 14.4% during the 3rd quarter. Atria Investments Inc now owns 5,345 shares of the company's stock worth $246,000 after acquiring an additional 672 shares during the last quarter. Empowered Funds LLC boosted its holdings in Travel + Leisure by 57.7% in the third quarter. Empowered Funds LLC now owns 15,008 shares of the company's stock worth $692,000 after acquiring an additional 5,494 shares in the last quarter. Quest Partners LLC raised its stake in shares of Travel + Leisure by 42.3% in the third quarter. Quest Partners LLC now owns 31,564 shares of the company's stock worth $1,454,000 after purchasing an additional 9,383 shares during the last quarter. Savoir Faire Capital Management L.P. increased its position in shares of Travel + Leisure by 70.4% during the third quarter. Savoir Faire Capital Management L.P. now owns 34,087 shares of the company's stock valued at $1,571,000 after acquiring an additional 14,087 shares during the last quarter. Finally, Factorial Partners LLC increased its position in Travel + Leisure by 7.9% in the third quarter. Factorial Partners LLC now owns 68,000 shares of the company's stock worth $3,133,000 after buying an additional 5,000 shares during the last quarter. Institutional investors own 87.54% of the company's stock.

About Travel + Leisure

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.