Balyasny Asset Management L.P. Takes $233,000 Position in Travel + Leisure Co. (NYSE:TNL)

Balyasny Asset Management L.P. acquired a new stake in shares of Travel + Leisure Co. (NYSE:TNL) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 4,612 shares of the company’s stock, valued at approximately $233,000.

A number of other hedge funds have also recently modified their holdings of the business. Baker Avenue Asset Management LP grew its position in shares of Travel + Leisure by 0.5% during the 4th quarter. Baker Avenue Asset Management LP now owns 121,078 shares of the company’s stock valued at $6,108,000 after acquiring an additional 645 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Travel + Leisure during the 4th quarter valued at $2,684,000. Ameriprise Financial Inc. boosted its holdings in Travel + Leisure by 1.8% in the 4th quarter. Ameriprise Financial Inc. now owns 327,217 shares of the company’s stock worth $16,508,000 after buying an additional 5,764 shares during the period. Algert Global LLC boosted its holdings in Travel + Leisure by 12.4% in the 4th quarter. Algert Global LLC now owns 358,959 shares of the company’s stock worth $18,109,000 after buying an additional 39,680 shares during the period. Finally, AXA S.A. boosted its holdings in Travel + Leisure by 48.9% in the 4th quarter. AXA S.A. now owns 131,567 shares of the company’s stock worth $6,638,000 after buying an additional 43,215 shares during the period. Institutional investors own 87.54% of the company’s stock.

Travel + Leisure Stock Up 0.8%

TNL opened at $51.12 on Friday. The firm has a 50-day simple moving average of $45.35 and a two-hundred day simple moving average of $50.60. Travel + Leisure Co. has a 52 week low of $37.77 and a 52 week high of $58.95. The company has a market capitalization of $3.39 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $1.10 by $0.01. The business had revenue of $934.00 million during the quarter, compared to the consensus estimate of $933.08 million. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. As a group, sell-side analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 17th were given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 4.38%. This is a boost from Travel + Leisure’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, March 17th. Travel + Leisure’s dividend payout ratio is currently 37.40%.

Insider Activity

In related news, Director Denny Marie Post sold 5,500 shares of the stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $50.20, for a total value of $276,100.00. Following the sale, the director now directly owns 4,477 shares of the company’s stock, valued at $224,745.40. This represents a 55.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Dean Brown acquired 2,000 shares of Travel + Leisure stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the completion of the transaction, the insider now directly owns 408,706 shares in the company, valued at $19,070,221.96. This trade represents a 0.49% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. The Goldman Sachs Group dropped their target price on shares of Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Barclays dropped their target price on shares of Travel + Leisure from $54.00 to $39.00 and set an “underweight” rating for the company in a report on Thursday, April 24th. Tigress Financial upped their target price on shares of Travel + Leisure from $64.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Finally, Truist Financial upped their target price on shares of Travel + Leisure from $61.00 to $72.00 and gave the stock a “buy” rating in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Travel + Leisure currently has an average rating of “Moderate Buy” and a consensus price target of $59.20.

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.