Yelp Inc. (NYSE:YELP) Holdings Increased by Summit Global Investments

Summit Global Investments increased its holdings in Yelp Inc. (NYSE:YELP) by 26.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,074 shares of the local business review company’s stock after purchasing an additional 3,583 shares during the quarter. Summit Global Investments’ holdings in Yelp were worth $631,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in YELP. Dimensional Fund Advisors LP increased its position in shares of Yelp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,994,129 shares of the local business review company’s stock worth $94,402,000 after acquiring an additional 13,790 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Yelp by 1.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,019,944 shares of the local business review company’s stock worth $48,284,000 after acquiring an additional 12,511 shares in the last quarter. Goodnow Investment Group LLC increased its position in shares of Yelp by 1.3% in the fourth quarter. Goodnow Investment Group LLC now owns 641,660 shares of the local business review company’s stock worth $30,376,000 after acquiring an additional 7,940 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Yelp by 10.6% in the first quarter. Assenagon Asset Management S.A. now owns 512,586 shares of the local business review company’s stock worth $20,196,000 after acquiring an additional 49,081 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Yelp in the fourth quarter worth approximately $20,718,000. 90.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on YELP. Wolfe Research began coverage on shares of Yelp in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. StockNews.com downgraded shares of Yelp from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Morgan Stanley boosted their price objective on shares of Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a research report on Tuesday, July 23rd. Robert W. Baird lowered their price objective on shares of Yelp from $44.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $39.00.

Insider Transactions at Yelp

In related news, COO Joseph R. Nachman sold 4,941 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $36.53, for a total transaction of $180,494.73. Following the completion of the transaction, the chief operating officer now directly owns 295,842 shares in the company, valued at approximately $10,807,108.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Joseph R. Nachman sold 4,941 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $36.53, for a total transaction of $180,494.73. Following the completion of the transaction, the chief operating officer now directly owns 295,842 shares in the company, valued at approximately $10,807,108.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Sam Eaton sold 26,718 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $36.62, for a total transaction of $978,413.16. Following the transaction, the chief technology officer now owns 167,861 shares of the company’s stock, valued at $6,147,069.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,084 shares of company stock worth $1,660,948. 7.40% of the stock is owned by insiders.

Yelp Trading Up 0.1 %

NYSE YELP traded up $0.05 during trading on Tuesday, reaching $34.33. The company’s stock had a trading volume of 423,987 shares, compared to its average volume of 736,426. The stock has a market capitalization of $2.30 billion, a PE ratio of 21.87 and a beta of 1.33. The business has a 50-day moving average price of $35.75 and a 200-day moving average price of $37.87. Yelp Inc. has a 1-year low of $32.56 and a 1-year high of $48.99.

Yelp (NYSE:YELP) last posted its earnings results on Thursday, August 8th. The local business review company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. Yelp had a net margin of 10.01% and a return on equity of 18.71%. The firm had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $352.98 million. During the same period in the previous year, the company earned $0.21 earnings per share. The company’s revenue was up 5.9% compared to the same quarter last year. As a group, analysts expect that Yelp Inc. will post 1.61 earnings per share for the current year.

Yelp Profile

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various 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.