Kayne Anderson Rudnick Investment Management LLC Has $1.50 Million Holdings in Yelp Inc. (YELP)

Kayne Anderson Rudnick Investment Management LLC reduced its stake in Yelp Inc. (NYSE:YELP) by 4.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 49,838 shares of the local business review company’s stock after selling 2,230 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned 0.06% of Yelp worth $1,496,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of YELP. Strs Ohio bought a new stake in Yelp in the 2nd quarter valued at about $108,000. FNY Partners Fund LP raised its stake in Yelp by 18,650.0% in the 1st quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock valued at $122,000 after acquiring an additional 3,730 shares during the period. Neuburgh Advisers LLC bought a new stake in shares of Yelp during the first quarter valued at about $133,000. Russell Investments Group Ltd. increased its position in shares of Yelp by 98.8% during the second quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock valued at $123,000 after buying an additional 2,033 shares during the period. Finally, FNY Managed Accounts LLC bought a new stake in shares of Yelp during the first quarter valued at about $163,000. 90.90% of the stock is currently owned by institutional investors.

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Several research analysts recently weighed in on the stock. Barclays PLC restated an “equal weight” rating and issued a $36.00 price objective (up from $28.00) on shares of Yelp in a research report on Friday, August 4th. B. Riley reaffirmed a “neutral” rating and issued a $36.00 target price on shares of Yelp in a research note on Friday, August 4th. BidaskClub lowered Yelp from a “buy” rating to a “hold” rating in a research note on Thursday. Royal Bank Of Canada increased their price objective on Yelp from $27.00 to $36.00 and gave the company a “sector perform” rating in a research note on Friday, August 4th. Finally, Zacks Investment Research upgraded Yelp from a “sell” rating to a “hold” rating and set a $48.00 target price for the company in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and nineteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $38.60.

In other Yelp news, SVP Laurence Wilson sold 10,000 shares of Yelp stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $42.00, for a total transaction of $420,000.00. Following the completion of the sale, the senior vice president now owns 191,947 shares of the company’s stock, valued at approximately $8,061,774. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeremy Stoppelman sold 13,000 shares of Yelp stock in a transaction on Friday, September 1st. The shares were sold at an average price of $43.15, for a total transaction of $560,950.00. The disclosure for this sale can be found here. Insiders sold a total of 169,240 shares of company stock valued at $6,815,609 in the last ninety days. Company insiders own 10.10% of the company’s stock.

Shares of Yelp Inc. (NYSE:YELP) traded up 0.61% during midday trading on Friday, reaching $43.17. The company’s stock had a trading volume of 406,088 shares. The company has a market capitalization of $3.53 billion, a P/E ratio of 273.23 and a beta of 1.41. Yelp Inc. has a 1-year low of $26.93 and a 1-year high of $44.25. The stock has a 50 day moving average of $40.62 and a 200-day moving average of $34.01.

Yelp (NYSE:YELP) last announced its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The company had revenue of $209.90 million for the quarter, compared to analyst estimates of $204.89 million. During the same quarter last year, the business earned $0.16 earnings per share. Yelp’s revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts anticipate that Yelp Inc. will post $0.07 earnings per share for the current year.

Yelp declared that its Board of Directors has approved a stock repurchase program on Thursday, August 3rd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the local business review company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Yelp Profile

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.

Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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