9,342 Shares in Travel + Leisure Co. $TNL Purchased by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC bought a new stake in Travel + Leisure Co. (NYSE:TNL) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 9,342 shares of the company’s stock, valued at approximately $714,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Royal Bank of Canada boosted its holdings in shares of Travel + Leisure by 42.0% in the first quarter. Royal Bank of Canada now owns 91,184 shares of the company’s stock valued at $4,222,000 after acquiring an additional 26,965 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Travel + Leisure during the first quarter worth approximately $396,000. Millennium Management LLC lifted its position in Travel + Leisure by 129.5% in the first quarter. Millennium Management LLC now owns 413,505 shares of the company’s stock worth $19,141,000 after purchasing an additional 233,345 shares during the period. Goldman Sachs Group Inc. lifted its position in Travel + Leisure by 97.1% in the first quarter. Goldman Sachs Group Inc. now owns 200,286 shares of the company’s stock worth $9,271,000 after purchasing an additional 98,647 shares during the period. Finally, United Services Automobile Association bought a new position in Travel + Leisure during the 1st quarter valued at $206,000. 87.54% of the stock is currently owned by institutional investors.

Travel + Leisure Trading Up 0.9%

Shares of TNL stock opened at $72.88 on Thursday. Travel + Leisure Co. has a 1-year low of $57.86 and a 1-year high of $81.00. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 0.49 and a beta of 1.17. The stock’s fifty day simple moving average is $75.26 and its 200-day simple moving average is $72.11.

Travel + Leisure (NYSE:TNL) last posted its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share for the quarter, meeting the consensus estimate of $1.88. Travel + Leisure had a negative return on equity of 46.91% and a net margin of 5.81%.The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm earned $1.65 earnings per share. Travel + Leisure’s quarterly revenue was up 4.4% on a year-over-year basis. On average, sell-side analysts predict that Travel + Leisure Co. will post 7.68 EPS for the current year.

Travel + Leisure Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a $0.60 dividend. The ex-dividend date is Wednesday, September 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.3%. Travel + Leisure’s dividend payout ratio is currently 65.57%.

Insider Transactions at Travel + Leisure

In other news, Director George Herrera sold 500 shares of the stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $75.16, for a total value of $37,580.00. Following the completion of the sale, the director directly owned 1,353 shares of the company’s stock, valued at $101,691.48. This represents a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kimberly Marshall sold 32,691 shares of the firm’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total transaction of $2,451,825.00. The SEC filing for this sale provides additional information. Insiders sold 95,135 shares of company stock valued at $7,022,699 over the last three months. 4.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TNL has been the topic of a number of research reports. Barclays boosted their price objective on Travel + Leisure from $74.00 to $77.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 23rd. Mizuho raised their target price on Travel + Leisure from $105.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Wall Street Zen lowered Travel + Leisure from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Wells Fargo & Company boosted their price target on shares of Travel + Leisure from $87.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Finally, Susquehanna initiated coverage on shares of Travel + Leisure in a report on Tuesday. They issued a “positive” rating and a $95.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Travel + Leisure has a consensus rating of “Buy” and an average price target of $87.82.

Travel + Leisure 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.