Verition Fund Management LLC Buys 25,815 Shares of Travel + Leisure Co. (NYSE:TNL)

Verition Fund Management LLC grew its stake in Travel + Leisure Co. (NYSE:TNL - Free Report) by 207.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,250 shares of the company's stock after acquiring an additional 25,815 shares during the quarter. Verition Fund Management LLC owned 0.06% of Travel + Leisure worth $1,763,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TNL. Quest Partners LLC raised its holdings in shares of Travel + Leisure by 1,474.2% during the second quarter. Quest Partners LLC now owns 22,181 shares of the company's stock worth $998,000 after acquiring an additional 20,772 shares during the period. Versor Investments LP lifted its holdings in shares of Travel + Leisure by 45.4% in the third quarter. Versor Investments LP now owns 40,290 shares of the company's stock valued at $1,857,000 after purchasing an additional 12,585 shares in the last quarter. Hancock Whitney Corp acquired a new position in shares of Travel + Leisure during the second quarter worth about $1,925,000. International Assets Investment Management LLC raised its position in Travel + Leisure by 4,532.8% in the 3rd quarter. International Assets Investment Management LLC now owns 5,374 shares of the company's stock valued at $248,000 after buying an additional 5,258 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in Travel + Leisure by 344.4% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 28,417 shares of the company's stock valued at $1,278,000 after acquiring an additional 22,022 shares in the last quarter. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Stock Down 0.2 %

Shares of TNL stock traded down $0.13 during trading on Friday, reaching $55.30. 500,930 shares of the company's stock were exchanged, compared to its average volume of 485,931. Travel + Leisure Co. has a twelve month low of $36.77 and a twelve month high of $56.91. The firm's fifty day moving average price is $50.37 and its 200-day moving average price is $46.31. The stock has a market capitalization of $3.78 billion, a PE ratio of 9.39, a PEG ratio of 0.80 and a beta of 1.63.

Travel + Leisure (NYSE:TNL - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $1.57 EPS for the quarter, beating the consensus estimate of $1.49 by $0.08. The firm had revenue of $993.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Travel + Leisure had a net margin of 10.99% and a negative return on equity of 48.06%. The company's quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 earnings per share. As a group, analysts anticipate that Travel + Leisure Co. will post 5.75 EPS for the current fiscal year.

Travel + Leisure Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Stifel Nicolaus raised their price target on shares of Travel + Leisure from $59.00 to $66.00 and gave the stock a "buy" rating in a research note on Tuesday, November 26th. Barclays raised their target price on shares of Travel + Leisure from $40.00 to $41.00 and gave the company an "underweight" rating in a research report on Thursday, October 24th. The Goldman Sachs Group increased their price objective 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. Tigress Financial raised their price objective on Travel + Leisure from $58.00 to $64.00 and gave the company a "buy" rating in a report on Friday, November 1st. Finally, Truist Financial upped their target price on Travel + Leisure from $60.00 to $61.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $56.80.

Insider Transactions at Travel + Leisure

In other Travel + Leisure news, Director Stephen P. Holmes sold 80,000 shares of the business's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $47.55, for a total value of $3,804,000.00. Following the completion of the sale, the director now owns 362,947 shares of the company's stock, valued at $17,258,129.85. The trade was a 18.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director George Herrera sold 2,193 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total transaction of $93,158.64. Following the transaction, the director now owns 6,352 shares in the company, valued at approximately $269,832.96. The trade was a 25.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,455 shares of company stock worth $5,075,834 over the last quarter. Company insiders own 4.02% of the company's stock.

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.