Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Since August 18, 2004, our common stock has been trading on the NASDAQ Global Select Market under the symbol “TZOO.” The following table sets forth, for the periods indicated, the high and low sales prices per share of our common stock as reported by NASDAQ.
High
Low
2024:
Fourth Quarter $ 22.44 $ 11.37
Third Quarter $ 15.23 $ 7.12
Second Quarter $ 10.65 $ 7.39
First Quarter $ 11.23 $ 8.02
2023:
Fourth Quarter $ 10.45 $ 5.08
Third Quarter $ 8.83 $ 5.83
Second Quarter $ 10.42 $ 5.64
First Quarter $ 6.04 $ 4.51
On March 17, 2025, the last reported sales price of our common stock on the NASDAQ Global Select Market was $14.42 per share.
As of March 17, 2025, there were approximately 161 stockholders of record of our shares.
Dividend Policy
Travelzoo has not declared or paid any cash dividends since inception and does not expect to pay cash dividends for the foreseeable future. The payment of dividends will be at the discretion of Travelzoo’s Board of Directors and will depend upon factors such as future earnings, capital requirements, our financial condition and general business conditions.
Sales of Unregistered Securities
In connection with that certain Stock Purchase Agreement, by and between Azzurro and the Company, dated as of December 30, 2022, the Company issued 3,410,000 shares of common stock of the Company in reliance on the exemption from registration provided by Section 4(a)(2) of the Securities Act of 1933 (the “Securities Act”) or another available exemption from the Securities Act. The Shares were registered by the Company pursuant to an S-3 registration statement made effective on February 15, 2023.
Repurchases of Equity Securities
We repurchased 135,792 of our equity securities during the quarter ended December 31, 2024.
Period Total Number of Shares Purchased Average Price Paid per Share Total Number of Shares Purchased as Part of Publicly Announced Programs Maximum Shares that May Yet be Purchased Under the Programs
October 1, 2024 - October 31, 2024 52,418 $ 16.64 52,418 947,582
November 1, 2024 - November 30, 2024 83,374 $ 17.51 83,374 864,208
December 1, 2024 - December 31, 2024 0 $ — 0 864,208
135,792 135,792
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Performance Graph
The following graph compares, for the dates specified, the cumulative total stockholder return for Travelzoo, the NASDAQ Composite Index (the “NASDAQ Market Index”), and the Russell 2000 Index. Measurement points are the last trading day of each of the Company's fiscal years ended December 31, 2019, December 31, 2020, December 31, 2021, December 31, 2022, December 31, 2023 and December 31, 2024. The graph assumes that $100 was invested on December 31, 2018 in the Common Stock of the Company, the NASDAQ Market Index and the Russell 2000 Index and assumes reinvestment of any dividends. The stock price performance on the following graph is not indicative of future stock price performance.
Measurement Point
12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024
Travelzoo $ 100 $ 109 $ 96 $ 96 $ 45 $ 97 $ 202
NASDAQ Market Index $ 100 $ 135 $ 194 $ 236 $ 158 $ 226 $ 291
Russell 2000 Index $ 100 $ 124 $ 146 $ 167 $ 131 $ 150 $ 165
Item 6. Reserved
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