Cornercap Investment Counsel Inc. Has $269,000 Holdings in Travel + Leisure Co. (NYSE:TNL)

Cornercap Investment Counsel Inc. reduced its stake in Travel + Leisure Co. (NYSE:TNL) by 74.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 5,844 shares of the company’s stock after selling 17,354 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Travel + Leisure were worth $269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of TNL. Quest Partners LLC lifted its holdings in Travel + Leisure by 1,474.2% during the 2nd quarter. Quest Partners LLC now owns 22,181 shares of the company’s stock worth $998,000 after purchasing an additional 20,772 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Travel + Leisure during the 1st quarter valued at $4,739,000. Harbor Capital Advisors Inc. lifted its holdings in Travel + Leisure by 125.9% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 53,211 shares of the company’s stock worth $2,393,000 after buying an additional 29,656 shares during the period. Versor Investments LP lifted its holdings in Travel + Leisure by 45.4% during the 3rd quarter. Versor Investments LP now owns 40,290 shares of the company’s stock worth $1,857,000 after buying an additional 12,585 shares during the period. Finally, Hancock Whitney Corp acquired a new position in shares of Travel + Leisure in the 2nd quarter valued at about $1,925,000. 87.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TNL shares. Truist Financial dropped their price objective on Travel + Leisure from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Thursday, September 5th. Barclays boosted their price objective on Travel + Leisure from $40.00 to $41.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Deutsche Bank Aktiengesellschaft dropped their price objective on Travel + Leisure from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. The Goldman Sachs Group boosted their target price on Travel + Leisure from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Tigress Financial boosted their target price on Travel + Leisure from $58.00 to $64.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Travel + Leisure has an average rating of “Moderate Buy” and an average target price of $55.67.

Travel + Leisure Stock Performance

Shares of TNL opened at $53.78 on Monday. The stock has a 50 day moving average price of $47.01 and a two-hundred day moving average price of $45.31. The firm has a market capitalization of $3.68 billion, a P/E ratio of 9.13, a P/E/G ratio of 0.78 and a beta of 1.61. Travel + Leisure Co. has a 52 week low of $35.41 and a 52 week high of $54.79.

Travel + Leisure (NYSE:TNL) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.08. The firm had revenue of $993.00 million during the quarter, compared to analyst estimates of $1.01 billion. Travel + Leisure had a negative return on equity of 48.06% and a net margin of 10.99%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 EPS. On average, equities analysts forecast that Travel + Leisure Co. will post 5.77 earnings per share for the current year.

Travel + Leisure Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Friday, December 13th. Travel + Leisure’s dividend payout ratio is currently 33.96%.

Insiders Place Their Bets

In other news, Director George Herrera sold 2,193 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $42.48, for a total value of $93,158.64. Following the completion of the transaction, the director now directly owns 6,352 shares of the company’s stock, valued at $269,832.96. This represents a 25.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Geoffrey Richards sold 4,607 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $54.25, for a total value 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. This represents a 3.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,055 shares of company stock valued at $4,544,170. Corporate insiders own 4.02% of the company’s stock.

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.