Travelzoo (NASDAQ:TZOO) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in shares of Travelzoo (NASDAQ:TZOO - Free Report) by 52.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,646 shares of the information services provider's stock after selling 13,843 shares during the period. JPMorgan Chase & Co. owned approximately 0.11% of Travelzoo worth $152,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TZOO. Jane Street Group LLC purchased a new position in Travelzoo in the third quarter valued at about $298,000. Hennion & Walsh Asset Management Inc. increased its holdings in 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 buying an additional 79,990 shares in the last quarter. Geode Capital Management LLC increased its holdings in Travelzoo by 10.6% in the third quarter. Geode Capital Management LLC now owns 82,241 shares of the information services provider's stock valued at $991,000 after buying an additional 7,857 shares in the last quarter. Barclays PLC purchased a new position in Travelzoo in the third quarter valued at about $138,000. Finally, XTX Topco Ltd increased its holdings in Travelzoo by 103.5% in the third quarter. XTX Topco Ltd now owns 25,274 shares of the information services provider's stock valued at $305,000 after buying an additional 12,854 shares in the last quarter. 27.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on TZOO. Ascendiant Capital Markets increased their target price on shares of Travelzoo from $18.00 to $23.00 and gave the company a "buy" rating in a report on Monday, November 11th. Barrington Research increased 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. Finally, StockNews.com lowered shares of Travelzoo from a "strong-buy" rating to a "buy" rating in a research report on Friday, November 1st.

Travelzoo Price Performance

NASDAQ:TZOO traded up $0.07 during trading hours on Friday, reaching $19.83. 64,905 shares of the company were exchanged, compared to its average volume of 96,526. The firm has a market cap of $233.99 million, a price-to-earnings ratio of 18.53 and a beta of 1.71. Travelzoo has a 52-week low of $7.12 and a 52-week high of $22.44. The stock has a 50 day simple moving average of $20.09 and a 200 day simple moving average of $15.61.

Travelzoo declared that its Board of Directors has authorized a stock buyback program on Wednesday, October 23rd that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes 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 of directors believes its shares are undervalued.

Insider Activity

In related news, major shareholder Azzurro Capital Inc sold 60,000 shares of Travelzoo stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.28, for a total transaction of $1,036,800.00. Following the sale, the insider now owns 4,577,696 shares of the company's stock, valued at $79,102,586.88. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Holger Bartel sold 23,057 shares of Travelzoo stock in a transaction on Friday, December 20th. The stock was sold at an average price of $19.73, for a total transaction of $454,914.61. Following 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,557 shares of company stock valued at $2,843,940. Company 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.