Travelzoo (NASDAQ:TZOO) Board of Directors Initiates Share Buyback Plan

Travelzoo (NASDAQ:TZOO) declared that its board has approved a stock buyback plan on Wednesday, October 23rd, RTT News reports. The company plans to buyback 1,000,000 outstanding shares. This buyback authorization allows the information services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

TZOO has been the topic of several recent research reports. StockNews.com raised shares of Travelzoo from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 25th. Barrington Research raised their price target on shares of Travelzoo from $12.00 to $15.00 and gave the stock an “outperform” rating in a report on Tuesday. Ascendiant Capital Markets raised their price target on shares of Travelzoo from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, August 19th. Finally, Litchfield Hills Research assumed coverage on shares of Travelzoo in a report on Wednesday, September 4th. They issued a “buy” rating and a $35.00 price target on the stock.

Travelzoo Price Performance

NASDAQ TZOO traded up $1.67 during trading hours on Wednesday, reaching $14.60. 529,526 shares of the company’s stock traded hands, compared to its average volume of 104,940. Travelzoo has a 52-week low of $5.92 and a 52-week high of $15.71. The firm has a market cap of $191.23 million, a PE ratio of 16.04 and a beta of 1.74. The firm has a 50-day simple moving average of $12.55 and a 200 day simple moving average of $9.97.

Travelzoo (NASDAQ:TZOO) last issued its quarterly earnings results on Thursday, July 25th. The information services provider reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.04. The company had revenue of $21.14 million during the quarter, compared to analysts’ expectations of $21.58 million. Travelzoo had a net margin of 15.59% and a return on equity of 170.06%. During the same period last year, the company posted $0.17 EPS. Sell-side analysts forecast that Travelzoo will post 0.97 EPS for the current fiscal year.

Insiders Place Their Bets

In other Travelzoo news, major shareholder Azzurro Capital Inc sold 3,500 shares of Travelzoo stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $9.32, for a total value of $32,620.00. Following the completion of the transaction, the insider now directly owns 5,033,871 shares of the company’s stock, valued at approximately $46,915,677.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, major shareholder Azzurro Capital Inc sold 3,500 shares of Travelzoo stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $9.32, for a total value of $32,620.00. Following the completion of the sale, the insider now directly owns 5,033,871 shares in the company, valued at $46,915,677.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Holger Bartel sold 13,466 shares of Travelzoo stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $10.19, for a total transaction of $137,218.54. Following the completion of the sale, the chief executive officer now owns 302,534 shares of the company’s stock, valued at $3,082,821.46. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 379,254 shares of company stock valued at $4,459,596. Insiders own 57.45% of the company’s stock.

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.