Envestnet Asset Management Inc. Raises Position in Travel + Leisure Co. $TNL

Envestnet Asset Management Inc. grew its holdings in Travel + Leisure Co. (NYSE:TNL) by 231.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 691,599 shares of the company’s stock after acquiring an additional 482,731 shares during the period. Envestnet Asset Management Inc.’s holdings in Travel + Leisure were worth $41,143,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of TNL. Hillsdale Investment Management Inc. purchased a new position in Travel + Leisure in the second quarter valued at $27,000. Parkside Financial Bank & Trust increased its holdings in Travel + Leisure by 155.3% during the 2nd quarter. Parkside Financial Bank & Trust now owns 628 shares of the company’s stock worth $32,000 after purchasing an additional 382 shares during the period. CNB Bank acquired a new stake in Travel + Leisure in the 3rd quarter valued at about $32,000. Geneos Wealth Management Inc. boosted its stake in shares of Travel + Leisure by 293.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 959 shares of the company’s stock valued at $44,000 after buying an additional 715 shares during the period. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Travel + Leisure during the second quarter worth about $45,000. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Travel + Leisure Stock Up 1.3%

NYSE:TNL opened at $73.96 on Wednesday. The company has a market capitalization of $4.76 billion, a PE ratio of 12.16, a P/E/G ratio of 0.65 and a beta of 1.38. Travel + Leisure Co. has a 52-week low of $37.77 and a 52-week high of $76.21. The stock’s 50 day moving average price is $71.58 and its 200 day moving average price is $65.46.

Analyst Upgrades and Downgrades

TNL has been the topic of several analyst reports. Citigroup reaffirmed an “outperform” rating on shares of Travel + Leisure in a report on Thursday, October 23rd. Barclays set a $70.00 price objective on shares of Travel + Leisure and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Wall Street Zen cut shares of Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Saturday. Morgan Stanley increased their target price on Travel + Leisure from $68.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, January 16th. Finally, Wells Fargo & Company initiated coverage on Travel + Leisure in a report on Tuesday, November 18th. They set an “overweight” rating and a $74.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.25.

Insiders Place Their Bets

In related news, Director George Herrera sold 559 shares of the stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $68.18, for a total transaction of $38,112.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Geoffrey Richards sold 62,525 shares of Travel + Leisure stock in a transaction on Monday, November 24th. The shares were sold at an average price of $65.17, for a total transaction of $4,074,754.25. Following the completion of the transaction, the insider owned 39,604 shares in the company, valued at approximately $2,580,992.68. This represents a 61.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 68,076 shares of company stock worth $4,437,347 over the last ninety days. Corporate insiders own 3.75% of the company’s stock.

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.