Trexquant Investment LP Has $8.47 Million Position in Travel + Leisure Co. (NYSE:TNL)

Trexquant Investment LP boosted its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 177.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,888 shares of the company’s stock after acquiring an additional 107,389 shares during the period. Trexquant Investment LP’s holdings in Travel + Leisure were worth $8,470,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Travel + Leisure in the fourth quarter worth $45,804,000. Charles Schwab Investment Management Inc. grew its stake in Travel + Leisure by 15.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 915,152 shares of the company’s stock worth $46,169,000 after buying an additional 122,173 shares in the last quarter. Barclays PLC increased its holdings in Travel + Leisure by 80.4% in the 3rd quarter. Barclays PLC now owns 225,326 shares of the company’s stock valued at $10,383,000 after buying an additional 100,440 shares during the period. Edgestream Partners L.P. acquired a new position in shares of Travel + Leisure in the 4th quarter valued at approximately $4,639,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Travel + Leisure by 10.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 814,319 shares of the company’s stock valued at $41,082,000 after buying an additional 79,922 shares in the last quarter. 87.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently issued reports on TNL shares. The Goldman Sachs Group lifted their price objective on shares of Travel + Leisure from $49.00 to $59.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Tigress Financial lifted 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. Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $60.00 in a report on Monday, January 27th. Mizuho reaffirmed a “neutral” rating and issued a $64.00 price objective (up from $55.00) on shares of Travel + Leisure in a research note on Thursday, February 20th. Finally, Barclays boosted their target price on Travel + Leisure from $48.00 to $54.00 and gave the stock an “underweight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $63.70.

Travel + Leisure Price Performance

Shares of NYSE TNL opened at $42.82 on Friday. The company has a 50 day simple moving average of $52.41 and a 200 day simple moving average of $50.97. Travel + Leisure Co. has a 1 year low of $39.91 and a 1 year high of $58.95. The firm has a market cap of $2.86 billion, a PE ratio of 7.33, a price-to-earnings-growth ratio of 0.67 and a beta of 1.61.

Travel + Leisure (NYSE:TNL) last released its quarterly earnings results on Wednesday, February 19th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.68 by $0.04. Travel + Leisure had a net margin of 10.63% and a negative return on equity of 45.75%. The firm had revenue of $971.00 million during the quarter, compared to the consensus estimate of $958.87 million. During the same quarter last year, the firm earned $1.98 earnings per share. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts anticipate that Travel + Leisure Co. will post 6.46 earnings per share for the current fiscal year.

Travel + Leisure Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Monday, March 17th. This is an increase from Travel + Leisure’s previous quarterly dividend of $0.50. This represents a $2.24 annualized dividend and a yield of 5.23%. Travel + Leisure’s payout ratio is presently 38.36%.

Insider Buying and Selling at Travel + Leisure

In related news, Director George Herrera sold 6,336 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $46.80, for a total value of $296,524.80. Following the transaction, the director now owns 2,759 shares in the company, valued at $129,121.20. The trade was a 69.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Dean Brown purchased 2,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $46.66 per share, for a total transaction of $93,320.00. Following the transaction, the insider now directly owns 408,706 shares of the company’s stock, valued at approximately $19,070,221.96. The trade was a 0.49 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 4.02% of the company’s stock.

About Travel + Leisure

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.