A couple of Travelzoo’s (NASDAQ:TZOO) insiders disclosed the purchase of TZOO stock worth $30 million on December 30, 2022. According to the SEC filing, both insiders bought Travelzoo shares in a private placement.
The company, through its online platforms, provide offers and deals related to travel, entertainment, and lifestyle.
One of the insiders is Travelzoo’s Founder and Chairman, Ralph Bartel. He also holds more than 10% of TZOO stock. Bartel bought 3.41 million shares at an average price of $4.4 per share, for a total transaction value of $15 million.
Further, shares were purchased by Azzurro Capital Inc., which is also a more than 10% owner of TZOO shares. The firm made a similar informative buy transaction. It is worth mentioning that Azzurro Capital has a success rate of 74% with an average return of 15.9% per transaction.
Interestingly, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Is TZOO a Good Stock to Buy?
On TipRanks, Travelzoo stock has a Moderate Buy consensus rating based on one Buy and one Hold recommendation. The average TZOO stock price target of $9 implies 75.4% upside potential. Over the past three months, the stock has gained more than 4%.
