Great Lakes Advisors LLC Buys Shares of 225,910 Yelp Inc. (NYSE:YELP)

Great Lakes Advisors LLC purchased a new position in shares of Yelp Inc. (NYSE:YELPGet Rating) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 225,910 shares of the local business review company’s stock, valued at approximately $7,706,000. Great Lakes Advisors LLC owned approximately 0.32% of Yelp at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in YELP. Acadian Asset Management LLC raised its position in shares of Yelp by 37.0% during the 4th quarter. Acadian Asset Management LLC now owns 1,650,838 shares of the local business review company’s stock worth $59,806,000 after buying an additional 445,602 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Yelp by 37.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,128,359 shares of the local business review company’s stock worth $40,891,000 after purchasing an additional 304,570 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Yelp by 168.9% in the 1st quarter. Assenagon Asset Management S.A. now owns 338,616 shares of the local business review company’s stock worth $11,550,000 after purchasing an additional 212,708 shares in the last quarter. Point72 Asset Management L.P. raised its holdings in shares of Yelp by 49.3% in the 4th quarter. Point72 Asset Management L.P. now owns 531,515 shares of the local business review company’s stock worth $19,262,000 after purchasing an additional 175,415 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Yelp by 15.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 798,636 shares of the local business review company’s stock worth $28,943,000 after purchasing an additional 107,505 shares in the last quarter. 88.33% of the stock is currently owned by institutional investors.

Yelp Stock Performance

Shares of YELP opened at $38.26 on Friday. The company’s 50 day moving average price is $29.64 and its 200 day moving average price is $31.96. Yelp Inc. has a 52 week low of $26.28 and a 52 week high of $43.28. The company has a market capitalization of $2.72 billion, a PE ratio of 67.12 and a beta of 1.59.

Yelp (NYSE:YELPGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The local business review company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.10. Yelp had a net margin of 4.14% and a return on equity of 5.82%. The firm had revenue of $298.90 million for the quarter, compared to the consensus estimate of $284.30 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s revenue was up 16.2% on a year-over-year basis. On average, equities analysts forecast that Yelp Inc. will post 0.86 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

YELP has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Yelp from $40.00 to $35.00 in a report on Monday, May 9th. StockNews.com downgraded shares of Yelp from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 14th. BMO Capital Markets cut their price target on shares of Yelp from $42.00 to $37.00 in a report on Tuesday, May 10th. Morgan Stanley cut their price target on shares of Yelp from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, July 19th. Finally, Evercore ISI boosted their price target on shares of Yelp from $35.00 to $41.00 and gave the company an “in-line” rating in a report on Friday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $37.75.

Insider Activity at Yelp

In related news, CFO David A. Schwarzbach sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The shares were sold at an average price of $29.70, for a total transaction of $59,400.00. Following the transaction, the chief financial officer now directly owns 207,220 shares of the company’s stock, valued at $6,154,434. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Yelp news, COO Joseph R. Nachman sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $31.14, for a total value of $186,840.00. Following the completion of the sale, the chief operating officer now directly owns 314,913 shares of the company’s stock, valued at $9,806,390.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David A. Schwarzbach sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $29.70, for a total transaction of $59,400.00. Following the completion of the sale, the chief financial officer now directly owns 207,220 shares of the company’s stock, valued at $6,154,434. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,605 shares of company stock valued at $1,021,250. Corporate insiders own 7.70% of the company’s stock.

About Yelp

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Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.

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Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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