State Street Corp Lowers Position in Travelzoo (NASDAQ:TZOO)

State Street Corp trimmed its holdings in shares of Travelzoo (NASDAQ:TZOO) by 18.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,469 shares of the information services provider’s stock after selling 5,200 shares during the period. State Street Corp’s holdings in Travelzoo were worth $283,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Point72 Asia Singapore Pte. Ltd. acquired a new position in Travelzoo during the third quarter worth $35,000. American Century Companies Inc. acquired a new stake in shares of Travelzoo during the second quarter valued at $82,000. Ritholtz Wealth Management acquired a new stake in shares of Travelzoo during the 2nd quarter worth about $82,000. Quadrature Capital Ltd purchased a new position in shares of Travelzoo during the third quarter valued at approximately $134,000. Finally, ClariVest Asset Management LLC boosted its position in Travelzoo by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 97,730 shares of the information services provider’s stock worth $742,000 after acquiring an additional 2,732 shares during the last quarter. 27.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TZOO. Barrington Research boosted their price target on Travelzoo from $12.00 to $15.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Ascendiant Capital Markets increased their price target on shares of Travelzoo from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, StockNews.com lowered shares of Travelzoo from a “strong-buy” rating to a “buy” rating in a report on Friday, November 1st.

Travelzoo Trading Up 2.3 %

Shares of Travelzoo stock opened at $21.13 on Friday. Travelzoo has a twelve month low of $7.12 and a twelve month high of $22.44. The stock has a market cap of $249.42 million, a price-to-earnings ratio of 19.75 and a beta of 1.71. The company has a fifty day moving average price of $19.26 and a 200 day moving average price of $13.83.

Travelzoo (NASDAQ:TZOO) last issued its quarterly earnings data on Wednesday, October 23rd. The information services provider reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.06. The company had revenue of $20.10 million during the quarter, compared to the consensus estimate of $21.15 million. Travelzoo had a net margin of 16.67% and a return on equity of 210.54%. During the same quarter last year, the company earned $0.16 earnings per share. Analysts forecast that Travelzoo will post 1.09 earnings per share for the current year.

Travelzoo announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 23rd that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the information services provider to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Travelzoo

In other news, CEO Holger Bartel sold 23,057 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was 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 directly owns 4,000 shares in the company, valued at $78,920. This trade represents a 85.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Azzurro Capital Inc sold 30,000 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $15.39, for a total value of $461,700.00. Following the completion of the transaction, the insider now owns 4,717,696 shares in the company, valued at approximately $72,605,341.44. This trade represents a 0.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 265,557 shares of company stock valued at $4,672,865. Corporate insiders own 57.45% of the company’s stock.

Travelzoo 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.