Insider Selling: Travel + Leisure (NYSE:TNL) Insider Sells $4,074,754.25 in Stock

Travel + Leisure Co. (NYSE:TNL) insider Geoffrey Richards sold 62,525 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $65.17, for a total value of $4,074,754.25. Following the sale, the insider owned 39,604 shares of the company’s stock, valued at approximately $2,580,992.68. This trade represents a 61.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Geoffrey Richards also recently made the following trade(s):

• On Thursday, November 13th, Geoffrey Richards sold 4,992 shares of Travel + Leisure stock. The stock was sold at an average price of $65.00, for a total value of $324,480.00.
• On Wednesday, November 12th, Geoffrey Richards sold 4,556 shares of Travel + Leisure stock. The shares were sold at an average price of $65.00, for a total value of $296,140.00.
• On Wednesday, October 29th, Geoffrey Richards sold 1,100 shares of Travel + Leisure stock. The shares were sold at an average price of $65.00, for a total value of $71,500.00.
• On Monday, October 27th, Geoffrey Richards sold 26,838 shares of Travel + Leisure stock. The stock was sold at an average price of $66.06, for a total transaction of $1,772,918.28.
• On Wednesday, October 22nd, Geoffrey Richards sold 1,404 shares of Travel + Leisure stock. The shares were sold at an average price of $64.50, for a total transaction of $90,558.00.

Travel + Leisure Trading Down 0.8%

NYSE:TNL opened at $68.06 on Tuesday. The company has a market cap of $4.38 billion, a P/E ratio of 11.19, a P/E/G ratio of 0.55 and a beta of 1.51. Travel + Leisure Co. has a twelve month low of $37.77 and a twelve month high of $70.43. The company’s 50-day moving average price is $62.80 and its 200-day moving average price is $58.61.

Travel + Leisure (NYSE:TNL) last announced its quarterly earnings data on Wednesday, October 22nd. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.08. Travel + Leisure had a net margin of 10.36% and a negative return on equity of 49.06%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the prior year, the company earned $1.57 EPS. Travel + Leisure’s revenue was up 5.1% compared to the same quarter last year. On average, analysts expect that Travel + Leisure Co. will post 6.46 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Friday, December 12th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, December 12th. Travel + Leisure’s dividend payout ratio (DPR) is currently 36.84%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TNL. Hillsdale Investment Management Inc. purchased a new stake in shares of Travel + Leisure in the 2nd quarter valued at approximately $27,000. Elequin Capital LP acquired a new stake in Travel + Leisure in the 1st quarter valued at approximately $30,000. Danske Bank A S purchased a new stake in Travel + Leisure in the third quarter valued at approximately $30,000. Parkside Financial Bank & Trust lifted its stake in Travel + Leisure by 155.3% during the second quarter. Parkside Financial Bank & Trust now owns 628 shares of the company’s stock worth $32,000 after purchasing an additional 382 shares in the last quarter. Finally, CNB Bank acquired a new position in Travel + Leisure during the third quarter worth $32,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TNL. Wells Fargo & Company assumed coverage on Travel + Leisure in a research note on Tuesday, November 18th. They set an “overweight” rating and a $74.00 price objective on the stock. JMP Securities lifted their price target on Travel + Leisure from $70.00 to $80.00 and gave the stock a “market outperform” rating in a report on Thursday, October 23rd. Truist Financial upped their price objective on shares of Travel + Leisure from $70.00 to $71.00 and gave the company a “buy” rating in a report on Friday, November 14th. Mizuho set a $86.00 price objective on shares of Travel + Leisure in a research report on Wednesday, October 22nd. Finally, Citigroup reiterated an “outperform” rating on shares of Travel + Leisure in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.60.

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.