Legal & General Group Plc increased its position in Yelp Inc. (NYSE:YELP) by 165.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 23,905 shares of the local business review company’s stock after buying an additional 14,889 shares during the period. Legal & General Group Plc’s holdings in Yelp were worth $783,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of YELP. Dimensional Fund Advisors LP boosted its stake in shares of Yelp by 14.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 97,695 shares of the local business review company’s stock valued at $3,725,000 after buying an additional 12,259 shares during the period. FMR LLC purchased a new stake in Yelp during the fourth quarter worth about $12,756,000. Teachers Advisors LLC boosted its stake in Yelp by 48.2% in the fourth quarter. Teachers Advisors LLC now owns 423,099 shares of the local business review company’s stock worth $16,133,000 after buying an additional 137,513 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Yelp by 85.6% in the fourth quarter. Macquarie Group Ltd. now owns 1,723,136 shares of the local business review company’s stock worth $65,703,000 after buying an additional 794,636 shares during the last quarter. Finally, Palisade Capital Management LLC NJ purchased a new stake in Yelp during the first quarter worth about $267,000. Institutional investors and hedge funds own 95.37% of the company’s stock.
Shares of Yelp Inc. (NYSE YELP) traded up 0.92% on Friday, hitting $41.81. 1,489,886 shares of the stock traded hands. Yelp Inc. has a 52 week low of $26.93 and a 52 week high of $43.41. The stock has a 50 day moving average price of $34.76 and a 200-day moving average price of $33.40. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 264.62 and a beta of 1.48.
Yelp (NYSE:YELP) last posted its earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 net margin of 1.67% and a return on equity of 1.60%. Yelp’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 EPS. On average, equities research analysts forecast that Yelp Inc. will post $0.07 EPS for the current year.
Yelp declared that its Board of Directors has authorized a stock repurchase plan on Thursday, August 3rd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the local business review company to reacquire up to 7.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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A number of analysts recently issued reports on the company. B. Riley reissued a “neutral” rating and set a $25.00 price objective on shares of Yelp in a research report on Wednesday, May 10th. Royal Bank Of Canada reduced their price target on Yelp from $46.00 to $29.00 and set a “market perform” rating for the company in a research report on Thursday, May 11th. Barclays PLC reaffirmed an “equal weight” rating and issued a $36.00 price target (up previously from $28.00) on shares of Yelp in a research report on Friday, August 4th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $22.00 price target (down previously from $35.00) on shares of Yelp in a research report on Friday, May 12th. Finally, Zacks Investment Research raised Yelp from a “sell” rating to a “hold” rating in a research report on Wednesday, May 17th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $37.95.
In other news, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $41.74, for a total value of $542,620.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Laurence Wilson sold 3,128 shares of Yelp stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total transaction of $88,303.44. Following the transaction, the senior vice president now directly owns 181,947 shares of the company’s stock, valued at $5,136,363.81. The disclosure for this sale can be found here. Insiders sold a total of 148,251 shares of company stock worth $5,488,625 in the last three months. 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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