Travel + Leisure (NYSE:TNL) Shares Gap Up – Here’s What Happened

Travel + Leisure Co. (NYSE:TNL)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $53.17, but opened at $54.43. Travel + Leisure shares last traded at $54.36, with a volume of 77,336 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Travel + Leisure from $56.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Bank of America raised Travel + Leisure from an “underperform” rating to a “buy” rating and increased their target price for the company from $40.00 to $60.00 in a report on Monday. Morgan Stanley started coverage on Travel + Leisure in a research report on Monday, January 6th. They set an “overweight” rating and a $67.00 price objective for the company. Tigress Financial raised their target price on Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Barclays upped their price target on Travel + Leisure from $41.00 to $48.00 and gave the company an “underweight” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.55.

Travel + Leisure Stock Performance

The stock has a market cap of $3.73 billion, a PE ratio of 9.26, a P/E/G ratio of 0.68 and a beta of 1.64. The firm’s 50-day moving average is $52.64 and its 200 day moving average is $48.22.

Travel + Leisure Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Friday, December 13th. Travel + Leisure’s dividend payout ratio is currently 33.96%.

Insider Activity at Travel + Leisure

In other news, insider Geoffrey Richards sold 5,009 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $52.16, for a total transaction of $261,269.44. Following the completion of the sale, the insider now owns 125,209 shares in the company, valued at $6,530,901.44. This represents a 3.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 19,016 shares of company stock worth $1,042,863 in the last quarter. Company insiders own 4.02% of the company’s stock.

Hedge Funds Weigh In On Travel + Leisure

Several institutional investors have recently bought and sold shares of the company. Copeland Capital Management LLC boosted its stake in shares of Travel + Leisure by 0.8% in the fourth quarter. Copeland Capital Management LLC now owns 1,565,581 shares of the company’s stock valued at $78,984,000 after buying an additional 12,111 shares in the last quarter. Gries Financial LLC boosted its position in shares of Travel + Leisure by 5.5% during the 4th quarter. Gries Financial LLC now owns 5,074 shares of the company’s stock worth $256,000 after purchasing an additional 265 shares in the last quarter. Foster & Motley Inc. grew its stake in shares of Travel + Leisure by 176.5% during the 4th quarter. Foster & Motley Inc. now owns 28,663 shares of the company’s stock worth $1,446,000 after purchasing an additional 18,297 shares during the period. R Squared Ltd purchased a new position in shares of Travel + Leisure in the 4th quarter valued at about $135,000. Finally, KBC Group NV lifted its stake in shares of Travel + Leisure by 30.1% in the fourth quarter. KBC Group NV now owns 2,893 shares of the company’s stock valued at $146,000 after purchasing an additional 669 shares during the period. 87.54% of the stock is owned by institutional investors and hedge funds.

Travel + Leisure Company Profile

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.