American Trust Investment Advisors LLC acquired a new stake in Yelp Inc. (NYSE:YELP) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 83,640 shares of the local business review company’s stock, valued at approximately $2,511,000. Yelp comprises approximately 2.2% of American Trust Investment Advisors LLC’s investment portfolio, making the stock its 18th largest position. American Trust Investment Advisors LLC owned about 0.10% of Yelp as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Yelp by 11.2% in the first quarter. Vanguard Group Inc. now owns 5,703,608 shares of the local business review company’s stock valued at $186,793,000 after buying an additional 574,004 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in Yelp by 38.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 3,116,090 shares of the local business review company’s stock valued at $93,545,000 after buying an additional 868,890 shares in the last quarter. BlackRock Inc. boosted its stake in 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. boosted its stake in 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. Finally, Fisher Asset Management LLC boosted its stake in Yelp by 658.2% in the second quarter. Fisher Asset Management LLC now owns 2,459,293 shares of the local business review company’s stock valued at $73,828,000 after buying an additional 2,134,942 shares in the last quarter. 95.37% of the stock is owned by institutional investors.
Shares of Yelp Inc. (NYSE YELP) opened at 41.81 on Friday. The company has a market capitalization of $3.42 billion, a price-to-earnings ratio of 264.62 and a beta of 1.48. 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 is $34.76 and its 200 day moving average is $33.40.
Yelp (NYSE:YELP) last posted its quarterly earnings data on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. The business had revenue of $209.90 million for the quarter, compared to analyst estimates of $204.89 million. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 earnings per share. On average, equities research analysts anticipate that Yelp Inc. will post $0.07 earnings per share for the current year.
Yelp announced that its Board of Directors has approved a stock repurchase plan on Thursday, August 3rd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the local business review company to purchase up to 7.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
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Several analysts have recently weighed in on the stock. Robert W. Baird restated a “neutral” rating and set a $37.00 price objective (up previously from $26.00) on shares of Yelp in a research report on Thursday, August 10th. UBS AG restated a “sell” rating and set a $30.00 price objective (up previously from $28.00) on shares of Yelp in a research report on Wednesday, August 9th. B. Riley reiterated a “neutral” rating and issued a $36.00 target price on shares of Yelp in a research report on Wednesday, August 9th. Cowen and Company reiterated a “market perform” rating and issued a $38.00 target price (up previously from $33.00) on shares of Yelp in a research report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded shares of Yelp from a “sell” rating to a “hold” rating and set a $48.00 target price on the stock in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eighteen have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $37.95.
In other news, CEO Jeremy Stoppelman sold 13,000 shares of Yelp stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $41.74, for a total value of $542,620.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Geoffrey L. Donaker sold 42,000 shares of Yelp stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $40.00, for a total value of $1,680,000.00. Following the completion of the transaction, the director now directly owns 47,590 shares in the company, valued at $1,903,600. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 148,251 shares of company stock worth $5,488,625. Corporate insiders own 10.10% of the company’s stock.
Yelp Company 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.
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