Travelzoo (NASDAQ:TZOO) Price Target Raised to $23.00

Travelzoo (NASDAQ:TZOO) had its price target raised by Ascendiant Capital Markets from $18.00 to $23.00 in a research note published on Monday,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the information services provider’s stock.

Several other research firms have also recently commented on TZOO. StockNews.com cut Travelzoo from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st. Litchfield Hills Research started coverage on Travelzoo in a report on Wednesday, September 4th. They issued a “buy” rating and a $35.00 target price for the company. Finally, Barrington Research boosted their price target on shares of Travelzoo from $12.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd.

Travelzoo Stock Down 1.4 %

Travelzoo stock opened at $18.42 on Monday. The company has a fifty day simple moving average of $14.40 and a 200-day simple moving average of $10.92. The firm has a market capitalization of $217.36 million, a price-to-earnings ratio of 17.21 and a beta of 1.69. Travelzoo has a 52-week low of $7.12 and a 52-week high of $19.47.

Travelzoo (NASDAQ:TZOO) last posted its quarterly earnings results on Wednesday, October 23rd. The information services provider reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. The firm had revenue of $20.10 million for the quarter, compared to analyst estimates of $21.15 million. Travelzoo had a net margin of 16.67% and a return on equity of 210.54%. During the same period in the previous year, the business posted $0.16 earnings per share. On average, research analysts anticipate that Travelzoo will post 1.09 EPS for the current fiscal year.

Travelzoo declared that its board has approved a share repurchase plan on Wednesday, October 23rd that allows the company to repurchase 1,000,000 outstanding shares. This repurchase authorization allows the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Travelzoo news, General Counsel Christina Sindoni Ciocca sold 12,288 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $14.35, for a total value of $176,332.80. Following the transaction, the general counsel now owns 44,623 shares of the company’s stock, valued at $640,340.05. This represents a 21.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Holger Bartel sold 30,000 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $12.26, for a total transaction of $367,800.00. Following the transaction, the chief executive officer now directly owns 230,000 shares of the company’s stock, valued at approximately $2,819,800. This trade represents a 11.54 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 527,288 shares of company stock worth $7,491,408. Company insiders own 57.45% of the company’s stock.

Hedge Funds Weigh In On Travelzoo

Several large investors have recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Travelzoo in the third quarter valued at approximately $35,000. American Century Companies Inc. acquired a new stake in shares of Travelzoo in the second quarter valued at $82,000. Ritholtz Wealth Management purchased a new stake in shares of Travelzoo in the 2nd quarter valued at $82,000. Fermata Advisors LLC acquired a new position in Travelzoo during the 2nd quarter worth about $101,000. Finally, O Shaughnessy Asset Management LLC acquired a new position in Travelzoo during the 1st quarter worth about $132,000. 27.39% of the stock is currently owned by institutional investors and hedge funds.

About Travelzoo

Travelzoo, together with its subsidiaries, operates as an Internet media company that provides travel, entertainment, and local experiences worldwide. It operates in four segments: Travelzoo North America, Travelzoo Europe, Jack's Flight Club, and New Initiatives. The company offers Travelzoo website, Travelzoo Top 20 email newsletters, Standalone email newsletters, Travelzoo Network, Travelzoo mobile applications, Jack's Flight Club website, Jack's Flight Club mobile applications, and Jack's Flight Club newsletters.