Iridian Asset Management LLC CT Reduces Position in Travel + Leisure Co. (NYSE:TNL)

Iridian Asset Management LLC CT cut its stake in shares of Travel + Leisure Co. (NYSE:TNL) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 503,893 shares of the company’s stock after selling 30,263 shares during the quarter. Travel + Leisure comprises approximately 6.8% of Iridian Asset Management LLC CT’s portfolio, making the stock its 2nd biggest position. Iridian Asset Management LLC CT owned approximately 0.74% of Travel + Leisure worth $25,421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. raised its position in Travel + Leisure by 1,948.1% in the 3rd quarter. UMB Bank n.a. now owns 553 shares of the company’s stock worth $25,000 after buying an additional 526 shares during the last quarter. Versant Capital Management Inc increased its holdings in Travel + Leisure by 49.2% in the 4th quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock worth $32,000 after acquiring an additional 210 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Travel + Leisure by 314.4% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 663 shares of the company’s stock worth $33,000 after purchasing an additional 503 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Travel + Leisure in the third quarter worth $43,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Travel + Leisure during the 3rd quarter valued at $44,000. Institutional investors own 87.54% of the company’s stock.

Insider Activity

In related news, insider Geoffrey Richards sold 4,607 shares of Travel + Leisure stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $54.25, for a total transaction of $249,929.75. Following the completion of the transaction, the insider now directly owns 120,602 shares of the company’s stock, valued at approximately $6,542,658.50. The trade was a 3.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.02% of the company’s stock.

Wall Street Analysts Forecast Growth

TNL has been the subject of several recent analyst reports. Stifel Nicolaus upped their target price on shares of Travel + Leisure from $59.00 to $66.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Truist Financial upped their price objective on Travel + Leisure from $60.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. lifted their target price on Travel + Leisure from $56.00 to $63.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Tigress Financial upped their price target on Travel + Leisure from $58.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Barclays increased their price objective on shares of Travel + Leisure from $41.00 to $48.00 and gave the company an “underweight” rating in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.55.

Travel + Leisure Stock Performance

NYSE:TNL opened at $57.55 on Friday. The stock’s fifty day moving average is $52.73 and its 200 day moving average is $48.65. The firm has a market capitalization of $3.94 billion, a PE ratio of 9.77, a PEG ratio of 0.63 and a beta of 1.64. Travel + Leisure Co. has a fifty-two week low of $39.78 and a fifty-two week high of $57.57.

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.