Travelzoo (NASDAQ:TZOO) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Travelzoo (NASDAQ:TZOO)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $16.21 and traded as high as $24.30. Travelzoo shares last traded at $23.41, with a volume of 149,504 shares trading hands.

Analysts Set New Price Targets

TZOO has been the subject of a number of analyst reports. StockNews.com downgraded Travelzoo from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 1st. Ascendiant Capital Markets raised their price objective on shares of Travelzoo from $18.00 to $23.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Barrington Research boosted 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.

Travelzoo Price Performance

The company has a market capitalization of $276.24 million, a PE ratio of 21.88 and a beta of 1.70. The stock has a 50-day simple moving average of $20.32 and a 200 day simple moving average of $16.21.

Travelzoo declared that its board has approved a share buyback plan on Wednesday, October 23rd that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes 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 of directors believes its stock is undervalued.

Insider Buying and Selling at Travelzoo

In related news, major shareholder Azzurro Capital Inc sold 20,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $19.60, for a total transaction of $392,000.00. Following the completion of the sale, the insider now owns 4,442,696 shares of the company’s stock, valued at $87,076,841.60. This represents a 0.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Holger Bartel sold 23,057 shares of Travelzoo stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $19.73, for a total transaction of $454,914.61. Following the completion of the sale, the chief executive officer now owns 4,000 shares in the company, valued at approximately $78,920. This represents a 85.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 57.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Travelzoo

Hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in Travelzoo during the third quarter worth approximately $35,000. Quadrature Capital Ltd bought a new stake in shares of Travelzoo during the 3rd quarter worth $134,000. Barclays PLC acquired a new position in shares of Travelzoo in the 3rd quarter worth $138,000. Virtu Financial LLC acquired a new stake in shares of Travelzoo during the third quarter worth $173,000. Finally, Jane Street Group LLC acquired a new position in shares of Travelzoo in the 3rd quarter valued at $298,000. 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.