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 report sent to investors on Monday,Benzinga reports. Ascendiant Capital Markets currently has a buy rating on the information services provider’s stock.

A number of other research analysts have also issued reports on the company. Litchfield Hills Research assumed coverage on Travelzoo in a report on Wednesday, September 4th. They issued a “buy” rating and a $35.00 target price for the company. Barrington Research upped their target price on shares of Travelzoo from $12.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com downgraded shares of Travelzoo from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 1st.

Travelzoo Price Performance

Shares of NASDAQ:TZOO opened at $18.69 on Monday. The firm’s 50-day moving average is $14.26 and its two-hundred day moving average is $10.86. Travelzoo has a 1 year low of $7.12 and a 1 year high of $19.47. The firm has a market capitalization of $220.54 million, a PE ratio of 17.47 and a beta of 1.69.

Travelzoo (NASDAQ:TZOO) last announced its earnings results on Wednesday, October 23rd. The information services provider reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.06. Travelzoo had a net margin of 16.67% and a return on equity of 210.54%. The firm had revenue of $20.10 million for the quarter, compared to the consensus estimate of $21.15 million. During the same period in the prior year, the firm earned $0.16 EPS. Analysts expect that Travelzoo will post 1.09 EPS for the current fiscal year.

Travelzoo declared that its board has initiated a stock buyback program on Wednesday, October 23rd that allows the company to buyback 1,000,000 shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity

In related news, major shareholder Azzurro Capital Inc sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $14.72, for a total transaction of $220,800.00. Following the completion of the sale, the insider now owns 4,960,196 shares in the company, valued at $73,014,085.12. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Travelzoo news, CEO Holger Bartel sold 100,000 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $11.44, for a total transaction of $1,144,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Azzurro Capital Inc sold 15,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $14.72, for a total value of $220,800.00. Following the completion of the sale, the insider now directly owns 4,960,196 shares of the company’s stock, valued at $73,014,085.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 547,288 shares of company stock worth $7,729,608. 57.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Travelzoo by 169.5% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 127,186 shares of the information services provider’s stock valued at $1,533,000 after acquiring an additional 79,990 shares during the period. Ritholtz Wealth Management raised its position in Travelzoo by 217.4% in the 3rd quarter. Ritholtz Wealth Management now owns 34,453 shares of the information services provider’s stock valued at $415,000 after purchasing an additional 23,599 shares during the last quarter. American Century Companies Inc. acquired a new stake in Travelzoo during the 2nd quarter worth $82,000. ClariVest Asset Management LLC grew its position in Travelzoo by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 97,730 shares of the information services provider’s stock worth $742,000 after purchasing an additional 2,732 shares during the last quarter. Finally, Fermata Advisors LLC acquired a new position in Travelzoo in the second quarter valued at $101,000. Hedge funds and other institutional investors own 27.39% of the company’s stock.

Travelzoo Company Profile

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.