Nuveen Asset Management LLC acquired a new stake in Yelp Inc. (NYSE:YELP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,643 shares of the local business review company’s stock, valued at approximately $971,000.
Several other hedge funds have also made changes to their positions in YELP. BlackRock Inc. increased its stake in shares of Yelp by 3,803.3% in the first quarter. BlackRock Inc. now owns 2,829,444 shares of the local business review company’s stock valued at $92,666,000 after buying an additional 2,756,955 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Yelp by 1,088.8% in the first quarter. Point72 Asset Management L.P. now owns 2,661,644 shares of the local business review company’s stock valued at $87,169,000 after buying an additional 2,437,744 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Yelp by 375.5% in the first quarter. Wells Fargo & Company MN now owns 1,388,422 shares of the local business review company’s stock valued at $45,470,000 after buying an additional 1,096,446 shares in the last quarter. Norges Bank acquired a new stake in shares of Yelp during the fourth quarter valued at $32,017,000. Finally, Clough Capital Partners L P increased its stake in shares of Yelp by 179.2% in the first quarter. Clough Capital Partners L P now owns 1,300,758 shares of the local business review company’s stock valued at $45,106,000 after buying an additional 834,929 shares in the last quarter. Institutional investors and hedge funds own 91.98% of the company’s stock.
Yelp Inc. (YELP) opened at 32.11 on Monday. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 433.92 and a beta of 1.46. The stock has a 50 day moving average of $30.45 and a 200 day moving average of $33.85. Yelp Inc. has a one year low of $26.93 and a one year high of $43.41.
Yelp (NYSE:YELP) last released its earnings results on Tuesday, May 9th. The local business review company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. Yelp had a net margin of 0.80% and a return on equity of 0.77%. The firm had revenue of $197.32 million during the quarter, compared to the consensus estimate of $198.51 million. During the same period in the previous year, the firm earned $0.08 earnings per share. Yelp’s revenue was up 24.4% compared to the same quarter last year. Analysts forecast that Yelp Inc. will post ($0.08) earnings per share for the current year.
Several brokerages have recently weighed in on YELP. Pacific Crest raised Yelp from a “sector weight” rating to an “overweight” rating and increased their price target for the company from $33.41 to $43.00 in a research note on Tuesday, April 11th. Roth Capital set a $28.00 price target on Yelp and gave the company a “sell” rating in a research note on Monday, March 27th. Wells Fargo & Company raised Yelp from an “underperform” rating to a “market perform” rating and set a $27.00 price target for the company in a research note on Friday, May 5th. Vetr cut Yelp from a “strong-buy” rating to a “buy” rating and set a $36.94 price target for the company. in a research note on Thursday, April 20th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $37.00 price target on shares of Yelp in a research note on Friday, June 23rd. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and sixteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $34.90.
In other Yelp news, SVP Laurence Wilson sold 3,128 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total transaction of $88,303.44. Following the completion of the sale, the senior vice president now directly owns 181,947 shares in the company, valued at $5,136,363.81. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Geoffrey L. Donaker sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $29.99, for a total transaction of $119,960.00. Following the sale, the director now owns 9,590 shares of the company’s stock, valued at $287,604.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 63,751 shares of company stock valued at $1,940,715. 10.10% of the stock is owned by insiders.
Yelp Inc (Yelp) connects people with local businesses by bringing ‘word of mouth’ online and providing a platform for businesses and consumers to engage and transact. The Company offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.
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