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

Iridian Asset Management LLC CT reduced its position in Travel + Leisure Co. (NYSE:TNL) by 5.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 503,893 shares of the company’s stock after selling 30,263 shares during the period. Travel + Leisure accounts for 6.8% of Iridian Asset Management LLC CT’s portfolio, making the stock its 2nd biggest position. Iridian Asset Management LLC CT’s holdings in Travel + Leisure were worth $25,421,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its holdings in shares of Travel + Leisure by 36.9% in the 4th quarter. UMB Bank n.a. now owns 757 shares of the company’s stock valued at $38,000 after purchasing an additional 204 shares in the last quarter. Versant Capital Management Inc boosted its position in Travel + Leisure by 49.2% during the fourth quarter. Versant Capital Management Inc now owns 637 shares of the company’s stock valued at $32,000 after purchasing an additional 210 shares in the last quarter. Gries Financial LLC grew its stake in Travel + Leisure by 5.5% in the fourth quarter. Gries Financial LLC now owns 5,074 shares of the company’s stock valued at $256,000 after purchasing an additional 265 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Travel + Leisure by 30.7% in the 4th quarter. GAMMA Investing LLC now owns 1,615 shares of the company’s stock worth $81,000 after buying an additional 379 shares during the last quarter. Finally, MBM Wealth Consultants LLC grew its holdings in Travel + Leisure by 6.7% in the fourth quarter. MBM Wealth Consultants LLC now owns 6,218 shares of the company’s stock worth $310,000 after purchasing an additional 390 shares during the last quarter. 87.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Travel + Leisure

In other news, insider Geoffrey Richards sold 4,607 shares of Travel + Leisure stock in a transaction that occurred on 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 $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 available through the SEC website. 4.02% of the stock is currently owned by corporate insiders.

Travel + Leisure Stock Up 4.0 %

Shares of TNL opened at $57.55 on Friday. The stock’s 50-day moving average price is $52.73 and its 200-day moving average price is $48.65. The company has a market capitalization of $3.94 billion, a price-to-earnings ratio of 9.77, a PEG ratio of 0.63 and a beta of 1.64. Travel + Leisure Co. has a 52 week low of $39.78 and a 52 week high of $57.57.

Analyst Upgrades and Downgrades

A number of research firms have commented on TNL. Morgan Stanley initiated coverage on Travel + Leisure in a research note on Monday, January 6th. They issued an “overweight” rating and a $67.00 price target for the company. The Goldman Sachs Group boosted their target price on shares of Travel + Leisure from $49.00 to $59.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Barclays raised their price target on shares of Travel + Leisure from $41.00 to $48.00 and gave the stock an “underweight” rating in a report on Friday, December 13th. JPMorgan Chase & Co. boosted their price objective on shares of Travel + Leisure from $56.00 to $63.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Finally, Bank of America upgraded Travel + Leisure from an “underperform” rating to a “buy” rating and raised their target price for the stock from $40.00 to $60.00 in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Travel + Leisure presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.55.

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.