Short Interest in Travel + Leisure Co. (NYSE:TNL) Drops By 21.2%

Travel + Leisure Co. (NYSE:TNL – Get Rating) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 2,570,000 shares, a drop of 21.2% from the March 15th total of 3,260,000 shares. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily volume of 826,200 shares, the short-interest ratio is presently 3.1 days.

NYSE:TNL traded up $1.47 on Tuesday, reaching $54.97. The company’s stock had a trading volume of 14,383 shares, compared to its average volume of 824,300. Travel + Leisure has a 12-month low of $46.10 and a 12-month high of $68.26. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 15.20 and a beta of 1.75. The company has a 50 day moving average of $55.81.

Travel + Leisure (NYSE:TNL – Get Rating) last posted its earnings results on Wednesday, February 23rd. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $0.97 by $0.22. The firm had revenue of $870.00 million for the quarter, compared to analyst estimates of $788.19 million. Travel + Leisure had a negative return on equity of 36.08% and a net margin of 9.86%. Travel + Leisure’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. Research analysts expect that Travel + Leisure will post 4.48 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were issued a dividend of $0.40 per share. This is a positive change from Travel + Leisure’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Monday, March 14th. This represents a $1.60 annualized dividend and a dividend yield of 2.91%. Travel + Leisure’s dividend payout ratio (DPR) is presently 45.45%.

Separately, Zacks Investment Research downgraded Travel + Leisure from a “buy” rating to a “hold” rating in a research report on Thursday, January 20th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $71.00.

In other news, insider Geoffrey Richards sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 9th. The stock was sold at an average price of $60.47, for a total value of $786,110.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George Herrera sold 2,189 shares of the firm’s stock in a transaction that occurred on Friday, March 18th. The shares were sold at an average price of $58.50, for a total value of $128,056.50. The disclosure for this sale can be found here. 1.93% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the business. Capital Analysts LLC grew its holdings in shares of Travel + Leisure by 80.2% during the fourth quarter. Capital Analysts LLC now owns 472 shares of the company’s stock worth $26,000 after purchasing an additional 210 shares during the last quarter. Carroll Financial Associates Inc. purchased a new position in shares of Travel + Leisure during the fourth quarter worth about $27,000. Evolution Wealth Advisors LLC grew its holdings in shares of Travel + Leisure by 140.5% during the third quarter. Evolution Wealth Advisors LLC now owns 606 shares of the company’s stock worth $33,000 after buying an additional 354 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Travel + Leisure during the fourth quarter worth about $36,000. Finally, Fieldpoint Private Securities LLC grew its holdings in shares of Travel + Leisure by 768.8% during the first quarter. Fieldpoint Private Securities LLC now owns 695 shares of the company’s stock worth $40,000 after buying an additional 615 shares during the last quarter. 87.23% of the stock is currently owned by institutional investors.

About Travel + Leisure (Get Rating)

Travel + Leisure Co, together with its subsidiaries, provides hospitality services and 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; provides consumer financing in connection with the sale of VOIs; and provides property management services at resorts.

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