Jeffrey Myers, the Chief Sales and Marketing Officer at Travel & Leisure Co. (NYSE:TNL), recently sold a significant portion of the company's common stock. On November 18, Myers executed a sale of 13,569 shares, resulting in a total transaction value of approximately $731,911. The shares were sold at a weighted average price ranging from $53.85 to $54.085 per share.
In addition to the sale, Myers exercised previously granted stock options to acquire the same number of shares, 13,569, at a price of $41.04 per share. This transaction added to his holdings, which now total 146,399.18 shares of Travel & Leisure Co. common stock.
In other recent news, Travel + Leisure Co. announced a regular cash dividend of $0.50 per share for its shareholders, emphasizing its commitment to maintaining a strong balance sheet and providing consistent dividends. On the earnings front, the company reported a robust Q3 2024 performance, with a 24.4% margin on adjusted EBITDA of $242 million and over $150 million in adjusted free cash flow. Gross Vacation Ownership Interest sales reached $606 million, marking a 2% increase in revenue.
The company also highlighted the successful integration of Accor (EPA:ACCP) Vacation Club and ongoing developments within the Travel & Membership segment, expected to contribute to long-term growth strategies. Despite challenges such as hurricanes impacting operations in Florida and North Carolina, and slight underperformance in Las Vegas, Travel + Leisure Co. maintains a positive outlook for Q4 and beyond.
These are part of the recent developments for the company, reflecting its commitment to shareholder value and operational efficiency. The company's forward-looking statements, as defined by the SEC, underscore their expectations regarding future company performance, while acknowledging the uncertainties and potential differences in actual results due to various factors.
InvestingPro Insights
The recent stock sale by Jeffrey Myers, Travel & Leisure Co.'s Chief Sales and Marketing Officer, comes at a time when the company's stock is performing strongly. According to InvestingPro data, TNL has seen impressive returns, with a 14.05% price total return over the past month and a substantial 24.48% return over the last three months. This performance aligns with an InvestingPro Tip indicating that the stock is trading near its 52-week high, currently at 96.13% of that peak.
Despite the insider sale, Travel & Leisure Co. appears to be in a solid financial position. The company boasts a P/E ratio of 8.9, suggesting it may be undervalued relative to its earnings. This is further supported by an InvestingPro Tip highlighting that TNL is trading at a low P/E ratio relative to its near-term earnings growth, with a PEG ratio of just 0.35.
For income-focused investors, TNL offers an attractive dividend yield of 3.74%, with an InvestingPro Tip noting that the company has raised its dividend for 3 consecutive years. This commitment to shareholder returns is complemented by management's aggressive share buyback program, another positive signal for investors.
InvestingPro offers 13 additional tips for TNL, providing a comprehensive analysis for those seeking deeper insights into the company's financial health and market position.
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