Great Lakes Advisors LLC Trims Holdings in Travel + Leisure Co. $TNL

Great Lakes Advisors LLC lowered its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 72.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 73,538 shares of the company’s stock after selling 193,984 shares during the period. Great Lakes Advisors LLC owned approximately 0.11% of Travel + Leisure worth $4,375,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. purchased a new stake in shares of Travel + Leisure in the 2nd quarter valued at $27,000. Parkside Financial Bank & Trust grew its position in Travel + Leisure by 155.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 628 shares of the company’s stock valued at $32,000 after acquiring an additional 382 shares in the last quarter. CNB Bank purchased a new stake in Travel + Leisure during the third quarter worth about $32,000. Geneos Wealth Management Inc. lifted its position in shares of Travel + Leisure by 293.0% during the first quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock worth $44,000 after purchasing an additional 715 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale purchased a new position in shares of Travel + Leisure in the second quarter valued at approximately $45,000. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Price Performance

Travel + Leisure stock opened at $69.52 on Friday. The stock has a market cap of $4.47 billion, a PE ratio of 11.43, a P/E/G ratio of 0.62 and a beta of 1.38. The stock’s fifty day moving average is $71.00 and its two-hundred day moving average is $64.72. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $76.21.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Friday, December 12th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Friday, December 12th. Travel + Leisure’s payout ratio is currently 36.84%.

Insiders Place Their Bets

In other Travel + Leisure news, insider Geoffrey Richards sold 62,525 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $65.17, for a total transaction of $4,074,754.25. Following the transaction, the insider owned 39,604 shares of the company’s stock, valued at approximately $2,580,992.68. This trade represents a 61.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director George Herrera sold 559 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $68.18, for a total value of $38,112.62. The SEC filing for this sale provides additional information. Insiders sold a total of 72,632 shares of company stock worth $4,733,487 over the last ninety days. Insiders own 3.75% of the company’s stock.

Wall Street Analysts Forecast Growth

TNL has been the topic of several recent research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Travel + Leisure in a research note on Wednesday, January 21st. Mizuho set a $86.00 price objective on Travel + Leisure in a research report on Wednesday, October 22nd. Truist Financial lifted their target price on Travel + Leisure from $70.00 to $71.00 and gave the company a “buy” rating in a report on Friday, November 14th. Wells Fargo & Company began coverage on Travel + Leisure in a research note on Tuesday, November 18th. They set an “overweight” rating and a $74.00 target price for the company. Finally, The Goldman Sachs Group increased their price target on Travel + Leisure from $61.00 to $71.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.25.

Travel + Leisure Company Profile

Travel + Leisure Co (NYSE: TNL) is a leisure travel company headquartered in Orlando, Florida, that specializes in vacation ownership, membership programs and branded travel experiences. The company operates an extensive portfolio of vacation clubs and destination services, offering members access to resorts, hotels, cruises and guided tours in markets around the world. Through its flagship membership brands, Travel + Leisure Co provides curated vacation packages, exchange services and unique travel itineraries that cater to both individual and family travelers.

In addition to its membership offerings, Travel + Leisure Co manages a network of resort properties and hospitality assets across North America, the Caribbean, Europe and Asia-Pacific.