Personal Capital Advisors Corp reduced its stake in Yelp Inc. (NYSE:YELP) by 10.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 323,468 shares of the local business review company’s stock after selling 36,698 shares during the period. Personal Capital Advisors Corp owned 0.40% of Yelp worth $9,711,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of YELP. FNY Partners Fund LP boosted its position in shares of Yelp by 18,650.0% in the first quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock valued at $122,000 after buying an additional 3,730 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Yelp by 98.8% in the second quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock worth $123,000 after buying an additional 2,033 shares during the last quarter. Neuburgh Advisers LLC bought a new position in shares of Yelp during the first quarter worth about $133,000. Independent Portfolio Consultants Inc. bought a new position in shares of Yelp during the first quarter worth about $159,000. Finally, FNY Managed Accounts LLC bought a new position in shares of Yelp during the first quarter worth about $163,000. 95.37% of the stock is owned by hedge funds and other institutional investors.
Yelp Inc. (YELP) opened at 41.98 on Thursday. Yelp Inc. has a 12-month low of $26.93 and a 12-month high of $43.41. The company’s 50 day moving average price is $34.10 and its 200-day moving average price is $33.34. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 265.70 and a beta of 1.48.
Yelp (NYSE:YELP) last posted its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.12. The business had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The business’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period last year, the firm earned $0.16 earnings per share. On average, equities analysts anticipate that Yelp Inc. will post $0.07 earnings per share for the current fiscal year.
Yelp declared that its board has approved a stock buyback program on Thursday, August 3rd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the local business review company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
A number of brokerages have issued reports on YELP. Zacks Investment Research raised Yelp from a “sell” rating to a “hold” rating and set a $48.00 price objective for the company in a report on Tuesday, August 8th. Cowen and Company reaffirmed a “market perform” rating and issued a $38.00 price target (up from $33.00) on shares of Yelp in a report on Wednesday, August 9th. B. Riley reaffirmed a “neutral” rating and issued a $36.00 price target on shares of Yelp in a report on Wednesday, August 9th. UBS AG reaffirmed a “sell” rating and issued a $30.00 price target (up from $28.00) on shares of Yelp in a report on Wednesday, August 9th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $37.00 price target (up from $26.00) on shares of Yelp in a report on Thursday, August 10th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have assigned a buy rating to the stock. Yelp currently has an average rating of “Hold” and a consensus target price of $37.95.
In related news, SVP Laurence Wilson sold 3,128 shares of Yelp stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $28.23, for a total value of $88,303.44. Following the completion of the transaction, the senior vice president now owns 181,947 shares in the company, valued at $5,136,363.81. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeremy Stoppelman sold 13,000 shares of Yelp stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $41.05, for a total value of $533,650.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,251 shares of company stock worth $4,946,005. Insiders own 10.10% of the company’s stock.
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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