Kingsview Wealth Management LLC Trims Stock Holdings in Travel + Leisure Co. $TNL

Kingsview Wealth Management LLC lessened its position in shares of Travel + Leisure Co. (NYSE:TNL) by 81.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,954 shares of the company’s stock after selling 43,787 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Travel + Leisure were worth $592,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TNL. Hillsdale Investment Management Inc. acquired a new stake in shares of Travel + Leisure during the second quarter worth about $27,000. Parkside Financial Bank & Trust increased its holdings in Travel + Leisure by 155.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 628 shares of the company’s stock worth $32,000 after buying an additional 382 shares during the period. CNB Bank acquired a new position in Travel + Leisure in the 3rd quarter worth approximately $32,000. Geneos Wealth Management Inc. raised its position in Travel + Leisure by 293.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock worth $44,000 after buying an additional 715 shares during the last quarter. Finally, CENTRAL TRUST Co raised its position in Travel + Leisure by 181.5% during the 3rd quarter. CENTRAL TRUST Co now owns 791 shares of the company’s stock worth $47,000 after buying an additional 510 shares during the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Travel + Leisure Price Performance

NYSE:TNL opened at $73.13 on Friday. The company has a 50 day moving average price of $72.77 and a 200-day moving average price of $67.18. Travel + Leisure Co. has a 1-year low of $37.77 and a 1-year high of $81.00. The firm has a market cap of $4.56 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 0.55 and a beta of 1.32.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings results on Wednesday, February 18th. The company reported $1.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.83. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1 billion. Travel + Leisure had a net margin of 5.74% and a negative return on equity of 47.77%. The firm’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.72 earnings per share. On average, sell-side analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Insider Transactions at Travel + Leisure

In other news, insider Michael Dean Brown sold 66,860 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $74.03, for a total transaction of $4,949,645.80. Following the sale, the insider directly owned 427,821 shares of the company’s stock, valued at $31,671,588.63. This represents a 13.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Amandine Robin-Caplan sold 3,904 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $74.61, for a total value of $291,277.44. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 96,702 shares of company stock valued at $7,182,383. Insiders own 3.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TNL. Stifel Nicolaus set a $89.00 price objective on shares of Travel + Leisure in a report on Wednesday, February 18th. Truist Financial raised their target price on shares of Travel + Leisure from $70.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, November 14th. Barclays set a $78.00 target price on shares of Travel + Leisure in a research report on Thursday, February 19th. Weiss Ratings lowered shares of Travel + Leisure from a “buy (b)” rating to a “hold (c+)” rating in a report on Friday, February 20th. Finally, Morgan Stanley increased their price target on Travel + Leisure from $68.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, January 16th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.90.

About Travel + Leisure

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.