After the close Wednesday, Grand Cayman-based Tzoo Inc., a company 99% controlled by Travelzoo (NASDAQ:TZOO) CEO Ralph Bartel (pictured), disclosed the sale of 560,000 Travelzoo shares, 250,000 at $31.42 on October 30 and another 310,000 at $32.03 on October 31. (Ralph’s brother Holger owns the other 1% of Tzoo.)
That follows Friday’s disclosure that Tzoo sold 1 million shares last week: 500,000 October 25 at $35.09, and another 500,000 shares the following day at $32.61. That comes to $51.6 million in total proceeds in the four transactions. The sales have increased the public float in Travelzoo shares by 52%, according to Stifel Nicolaus analyst Scott Devitt, who maintains a Sell rating on the stock.
Travelzoo’s increasingly abundant shares closed up 19 cents at $31.33.
Tzoo owns another 8,130,374 shares, or about 53% of the company’s outstanding shares.