Connor Clark & Lunn Investment Management Ltd. Acquires 55,333 Shares of Travel + Leisure Co. (NYSE:TNL)

Posted by Defense World Staff on May 29th, 2023

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Travel + Leisure Co. (NYSE:TNL – Get Rating) by 440.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 67,905 shares of the company’s stock after acquiring an additional 55,333 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.08% of Travel + Leisure worth $2,472,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Cetera Advisor Networks LLC lifted its position in shares of Travel + Leisure by 3.7% during the 1st quarter. Cetera Advisor Networks LLC now owns 6,652 shares of the company’s stock worth $385,000 after buying an additional 235 shares in the last quarter. LPL Financial LLC lifted its position in shares of Travel + Leisure by 0.7% during the 2nd quarter. LPL Financial LLC now owns 34,634 shares of the company’s stock worth $1,344,000 after buying an additional 236 shares in the last quarter. Prudential Financial Inc. lifted its position in shares of Travel + Leisure by 3.8% during the 1st quarter. Prudential Financial Inc. now owns 7,157 shares of the company’s stock worth $414,000 after buying an additional 259 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Travel + Leisure by 2.4% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 10,944 shares of the company’s stock worth $398,000 after buying an additional 260 shares in the last quarter. Finally, First National Bank of South Miami lifted its position in shares of Travel + Leisure by 5.3% during the 4th quarter. First National Bank of South Miami now owns 5,280 shares of the company’s stock worth $192,000 after buying an additional 267 shares in the last quarter. Institutional investors own 88.54% of the company’s stock.

Insider Activity

In other news, insider Olivier Chavy sold 7,900 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $38.02, for a total value of $300,358.00. Following the transaction, the insider now owns 4,511 shares of the company’s stock, valued at $171,508.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director George Herrera sold 2,069 shares of the company’s stock in a transaction on Friday, March 17th. The shares were sold at an average price of $37.53, for a total value of $77,649.57. Following the transaction, the director now owns 5,838 shares of the company’s stock, valued at $219,100.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Olivier Chavy sold 7,900 shares of the company’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $38.02, for a total transaction of $300,358.00. Following the completion of the transaction, the insider now directly owns 4,511 shares in the company, valued at approximately $171,508.22. The disclosure for this sale can be found here. Insiders sold 12,619 shares of company stock worth $477,409 in the last three months. Corporate insiders own 2.84% of the company’s stock.

Analyst Ratings Changes

TNL has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Travel + Leisure from $69.00 to $62.00 in a research report on Thursday, April 27th. Credit Suisse Group raised their price target on shares of Travel + Leisure from $31.00 to $36.00 and gave the stock an “underperform” rating in a research note on Thursday, February 23rd. Bank of America assumed coverage on shares of Travel + Leisure in a research note on Monday, April 17th. They set an “underperform” rating and a $42.00 price target for the company. Finally, Jefferies Financial Group lowered shares of Travel + Leisure from a “buy” rating to a “hold” rating and decreased their price target for the stock from $71.00 to $49.00 in a research note on Friday, February 3rd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Travel + Leisure has a consensus rating of “Hold” and an average price target of $50.43.

Travel + Leisure Trading Up 1.5 %

Travel + Leisure stock opened at $37.93 on Monday. Travel + Leisure Co. has a 1-year low of $33.57 and a 1-year high of $52.46. The firm has a market capitalization of $2.89 billion, a price-to-earnings ratio of 8.49, a P/E/G ratio of 0.32 and a beta of 1.66. The firm has a 50 day simple moving average of $37.64 and a 200 day simple moving average of $38.85.

Travel + Leisure (NYSE:TNL – Get Rating) last released its quarterly earnings data on Wednesday, April 26th. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Travel + Leisure had a net margin of 10.17% and a negative return on equity of 43.00%. The business had revenue of $879.00 million during the quarter, compared to analyst estimates of $840.65 million. During the same period in the previous year, the business earned $0.69 EPS. Travel + Leisure’s revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that Travel + Leisure Co. will post 5.53 EPS for the current year.

Travel + Leisure Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 4.75%. Travel + Leisure’s dividend payout ratio (DPR) is currently 40.27%.

About Travel + Leisure

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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 operates through Vacation Ownership and Travel and Membership segments. The Vacation Ownership segment is involved in developing, marketing, and selling vacation ownership interests to individual consumers, providing consumer financing in connection with the sale of vacation ownership interests, and providing property management services at resorts.