SummitTX Capital L.P. Makes New $1.40 Million Investment in Travel + Leisure Co. $TNL

SummitTX Capital L.P. acquired a new position in shares of Travel + Leisure Co. (NYSE:TNL) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 20,235 shares of the company’s stock, valued at approximately $1,400,000.

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

Insiders Place Their Bets

In related news, insider Geoffrey Richards sold 33,744 shares of Travel + Leisure stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $75.65, for a total value of $2,552,733.60. Following the completion of the transaction, the insider owned 1,600 shares in the company, valued at $121,040. The trade was a 95.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kimberly Marshall sold 32,691 shares of the company’s stock in a transaction dated Thursday, July 23rd. The stock was sold at an average price of $75.00, for a total value of $2,451,825.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 97,435 shares of company stock valued at $7,166,474 over the last quarter. Insiders own 4.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Zacks Research upgraded Travel + Leisure from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Morgan Stanley increased their price target on shares of Travel + Leisure from $78.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Weiss Ratings reissued a “buy (b-)” rating on shares of Travel + Leisure in a research report on Tuesday, July 21st. Citigroup restated a “market outperform” rating on shares of Travel + Leisure in a research note on Thursday, July 23rd. Finally, The Goldman Sachs Group upgraded shares of Travel + Leisure from a “neutral” rating to a “buy” rating and set a $85.00 price objective on the stock in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $86.90.

Travel + Leisure Price Performance

Shares of NYSE TNL opened at $77.71 on Thursday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 0.59 and a beta of 1.16. The firm’s 50 day simple moving average is $73.38 and its 200-day simple moving average is $71.75. Travel + Leisure Co. has a 12 month low of $56.66 and a 12 month high of $81.00.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings results on Wednesday, July 22nd. The company reported $1.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.88. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Travel + Leisure had a net margin of 5.81% and a negative return on equity of 46.91%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.65 earnings per share. Analysts anticipate that Travel + Leisure Co. will post 7.58 earnings per share for the current fiscal year.

Travel + Leisure Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 12th were given a dividend of $0.60 per share. The ex-dividend date was Friday, June 12th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.1%. Travel + Leisure’s dividend payout ratio (DPR) is 65.57%.

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.