Stephen P. Holmes, a director at Travel & Leisure Co. (NYSE:TNL), recently sold 80,000 shares of the company's common stock. The shares were sold at an average price of $47.55, totaling approximately $3.8 million. This transaction occurred on October 25, according to a filing with the Securities and Exchange Commission.
In addition to the sale, Holmes made a charitable gift of 1,000 shares. Following these transactions, Holmes holds 361,947 shares directly. The sale and gift reflect Holmes' ongoing management of his stock holdings in the company.
In other recent news, Travel + Leisure Co. reported a robust Q3 2024 performance, marking significant growth in key financial metrics. The company disclosed a 24.4% margin on adjusted EBITDA of $242 million and over $150 million in adjusted free cash flow, reflecting its strong operational efficiency. Gross Vacation Ownership Interest (VOI) sales also saw a 2% increase in revenue, reaching $606 million.
Travel + Leisure Co. successfully integrated Accor (EPA:ACCP) Vacation Club into its operations, a move expected to contribute to its long-term growth strategies. The company also closed a $325 million asset-backed securities transaction at a 5.2% rate, marking a notable development.
Despite the overall positive performance, the company faced some challenges, including a slight increase in delinquencies and hurricane impacts on operations in Florida and North Carolina. However, the company maintains a positive outlook for Q4 and beyond, forecasting an adjusted EBITDA between $240 million and $260 million. These are among the recent developments concerning Travel + Leisure Co.
InvestingPro Insights
While Stephen P. Holmes's recent sale of Travel & Leisure Co. (NYSE:TNL) shares might raise eyebrows, a deeper look at the company's financials and market position reveals a more nuanced picture. According to InvestingPro data, TNL's stock has shown impressive performance, with a 51.56% total return over the past year. This strong performance is supported by solid fundamentals, including a P/E ratio of 8.03, which suggests the stock may be undervalued relative to its earnings.
InvestingPro Tips highlight that TNL has maintained dividend payments for 18 consecutive years, demonstrating a commitment to shareholder returns. This is further reinforced by the company's current dividend yield of 4.21%, which may be attractive to income-focused investors. Additionally, management has been aggressively buying back shares, potentially indicating confidence in the company's future prospects.
It's worth noting that TNL boasts a perfect Piotroski Score of 9, suggesting strong financial health across various metrics. This score, combined with the fact that the company's liquid assets exceed short-term obligations, paints a picture of financial stability that may reassure investors despite the director's stock sale.
For those interested in a more comprehensive analysis, InvestingPro offers 11 additional tips for TNL, providing a deeper understanding of the company's financial position and market outlook.
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