Patient Capital Management LLC Boosts Stake in Travel + Leisure Co. (NYSE:TNL)

Patient Capital Management LLC grew its position in shares of Travel + Leisure Co. (NYSE:TNL – Get Rating) by 24.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 117,200 shares of the company’s stock after acquiring an additional 22,850 shares during the period. Travel + Leisure comprises about 2.0% of Patient Capital Management LLC’s holdings, making the stock its 24th largest holding. Patient Capital Management LLC owned about 0.14% of Travel + Leisure worth $3,999,000 at the end of the most recent reporting period.

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A number of other hedge funds and other institutional investors have also recently made changes to their positions in TNL. GMT Capital Corp purchased a new position in shares of Travel + Leisure during the 2nd quarter worth approximately $67,112,000. BlackRock Inc. grew its holdings in shares of Travel + Leisure by 13.9% during the 1st quarter. BlackRock Inc. now owns 9,806,796 shares of the company’s stock worth $568,206,000 after acquiring an additional 1,197,611 shares during the period. Invesco Ltd. grew its holdings in shares of Travel + Leisure by 11.8% during the 1st quarter. Invesco Ltd. now owns 6,057,641 shares of the company’s stock worth $350,980,000 after acquiring an additional 636,968 shares during the period. AQR Capital Management LLC grew its holdings in shares of Travel + Leisure by 82.9% during the 2nd quarter. AQR Capital Management LLC now owns 1,261,767 shares of the company’s stock worth $48,149,000 after acquiring an additional 572,057 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Travel + Leisure by 170.1% during the 2nd quarter. Millennium Management LLC now owns 544,937 shares of the company’s stock worth $21,154,000 after acquiring an additional 343,183 shares during the period. Hedge funds and other institutional investors own 88.54% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Truist Financial cut their price target on Travel + Leisure from $72.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, November 15th. Deutsche Bank Aktiengesellschaft upped their price target on Travel + Leisure from $62.00 to $69.00 in a research note on Thursday, February 23rd. Jefferies Financial Group downgraded Travel + Leisure from a “buy” rating to a “hold” rating and cut their price target for the stock from $71.00 to $49.00 in a research note on Friday, February 3rd. Finally, Credit Suisse Group upped their price target on Travel + Leisure from $31.00 to $36.00 and gave the stock an “underperform” rating in a research note on Thursday, February 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $53.00.

Travel + Leisure Trading Up 2.2 %

TNL traded up $0.92 during trading on Monday, hitting $43.48. 227,534 shares of the company’s stock traded hands, compared to its average volume of 677,376. The company’s 50 day simple moving average is $40.70 and its two-hundred day simple moving average is $39.50. Travel + Leisure Co. has a 12-month low of $33.57 and a 12-month high of $59.99. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 10.01 and a beta of 1.67.

Travel + Leisure (NYSE:TNL – Get Rating) last issued its earnings results on Wednesday, February 22nd. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.22 by $0.08. Travel + Leisure had a negative return on equity of 43.99% and a net margin of 10.01%. The business had revenue of $899.00 million for the quarter, compared to the consensus estimate of $913.96 million. During the same period last year, the business posted $1.19 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Travel + Leisure Co. will post 5.31 EPS for the current year.

Insider Buying and Selling at Travel + Leisure

In other news, Director George Herrera sold 882 shares of the stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $38.58, for a total transaction of $34,027.56. Following the transaction, the director now directly owns 40,320 shares of the company’s stock, valued at approximately $1,555,545.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.07% of the company’s stock.

Travel + Leisure Profile

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Travel + Leisure Co is a membership and leisure travel company, with a portfolio of nearly 20 resort, travel club, and lifestyle travel brands. It provides vacation experiences and travel inspiration to owners, members, and subscribers through its products and services: Wyndham Destinations, the vacation ownership company with 230 vacation club resort locations across the globe, Panorama, the membership travel business that includes the vacation exchange company, industry travel technology, and subscription travel brands, and Travel + Leisure Group, featuring online and print travel content, online booking platforms and travel clubs, and branded consumer products.

Further Reading

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