Merit Financial Group LLC Invests $261,000 in Travel + Leisure Co. (NYSE:TNL)

Merit Financial Group LLC bought a new position in shares of Travel + Leisure Co. (NYSE:TNL) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 5,633 shares of the company’s stock, valued at approximately $261,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Rhumbline Advisers lifted its position in shares of Travel + Leisure by 0.9% during the first quarter. Rhumbline Advisers now owns 204,264 shares of the company’s stock worth $9,455,000 after purchasing an additional 1,841 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Travel + Leisure by 5,758.6% during the first quarter. GAMMA Investing LLC now owns 94,617 shares of the company’s stock worth $4,380,000 after purchasing an additional 93,002 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Travel + Leisure by 844.9% during the first quarter. Versant Capital Management Inc now owns 6,019 shares of the company’s stock worth $279,000 after purchasing an additional 5,382 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Travel + Leisure by 1.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 39,955 shares of the company’s stock valued at $2,016,000 after buying an additional 693 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Travel + Leisure during the fourth quarter valued at $4,268,000. 87.54% of the stock is currently owned by institutional investors.

Insider Transactions at Travel + Leisure

In other news, Director Denny Marie Post sold 5,500 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $50.20, for a total transaction of $276,100.00. Following the sale, the director now owns 4,477 shares in the company, valued at approximately $224,745.40. The trade was a 55.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George Herrera sold 6,336 shares of the business’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $46.80, for a total value of $296,524.80. Following the sale, the director now owns 2,759 shares in the company, valued at $129,121.20. The trade was a 69.66% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. The Goldman Sachs Group cut their price target on Travel + Leisure from $62.00 to $44.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Tigress Financial raised their price target on Travel + Leisure from $64.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, March 6th. Truist Financial raised their price target on Travel + Leisure from $61.00 to $72.00 and gave the company a “buy” rating in a research note on Friday, March 7th. Mizuho restated a “neutral” rating and set a $64.00 price target (up previously from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Finally, Morgan Stanley cut their price target on Travel + Leisure from $61.00 to $52.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.20.

Travel + Leisure Price Performance

TNL opened at $50.21 on Friday. The business’s 50-day moving average is $46.34 and its two-hundred day moving average is $50.15. Travel + Leisure Co. has a 1 year low of $37.77 and a 1 year high of $58.95. The firm has a market capitalization of $3.33 billion, a PE ratio of 8.60, a price-to-earnings-growth ratio of 0.67 and a beta of 1.37.

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

Travel + Leisure Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.56 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.24 annualized dividend and a yield of 4.46%. Travel + Leisure’s dividend payout ratio (DPR) is presently 37.40%.

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.