Great West Life Assurance Co. Can lifted its holdings in Yelp Inc. (NYSE:YELP – Get Rating) by 21.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,660 shares of the local business review company’s stock after purchasing an additional 14,800 shares during the quarter. Great West Life Assurance Co. Can owned 0.12% of Yelp worth $2,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
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Several other hedge funds have also recently modified their holdings of the business. Captrust Financial Advisors grew its holdings in Yelp by 16.2% during the first quarter. Captrust Financial Advisors now owns 4,033 shares of the local business review company’s stock valued at $138,000 after purchasing an additional 563 shares during the period. PNC Financial Services Group Inc. raised its position in Yelp by 33.5% during the first quarter. PNC Financial Services Group Inc. now owns 4,944 shares of the local business review company’s stock valued at $169,000 after purchasing an additional 1,241 shares during the period. Everence Capital Management Inc. purchased a new stake in Yelp during the second quarter valued at approximately $204,000. Westwood Holdings Group Inc. purchased a new stake in Yelp during the first quarter valued at approximately $226,000. Finally, Counterpoint Mutual Funds LLC raised its position in Yelp by 346.8% during the second quarter. Counterpoint Mutual Funds LLC now owns 8,556 shares of the local business review company’s stock valued at $238,000 after purchasing an additional 6,641 shares during the period. Hedge funds and other institutional investors own 93.01% of the company’s stock.
Yelp Stock Performance
NYSE YELP opened at $30.00 on Thursday. The stock has a 50-day simple moving average of $28.44 and a two-hundred day simple moving average of $32.04. The firm has a market capitalization of $2.09 billion, a P/E ratio of 56.60 and a beta of 1.40. Yelp Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $39.26.
Yelp (NYSE:YELP – Get Rating) last released its quarterly earnings data on Thursday, November 3rd. The local business review company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business had revenue of $308.89 million during the quarter, compared to analyst estimates of $306.12 million. Yelp had a return on equity of 5.44% and a net margin of 3.40%. As a group, analysts forecast that Yelp Inc. will post 0.53 earnings per share for the current year.
Insider Buying and Selling at Yelp
In other Yelp news, CTO Sam Eaton sold 5,547 shares of Yelp stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $30.00, for a total transaction of $166,410.00. Following the completion of the transaction, the chief technology officer now owns 180,726 shares in the company, valued at approximately $5,421,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Sam Eaton sold 5,547 shares of Yelp stock in a transaction dated Wednesday, November 30th. The stock was sold at an average price of $30.00, for a total value of $166,410.00. Following the completion of the transaction, the chief technology officer now owns 180,726 shares in the company, valued at approximately $5,421,780. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jeremy Stoppelman sold 50,000 shares of Yelp stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $28.65, for a total value of $1,432,500.00. Following the completion of the transaction, the chief executive officer now owns 501,736 shares of the company’s stock, valued at approximately $14,374,736.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 376,999 shares of company stock worth $10,941,640. Insiders own 7.70% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on YELP. TheStreet downgraded Yelp from a “b-” rating to a “c” rating in a report on Thursday, December 8th. Wells Fargo & Company dropped their target price on Yelp from $38.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 19th. JPMorgan Chase & Co. cut Yelp from a “neutral” rating to an “underweight” rating and lowered their price objective for the stock from $34.00 to $23.00 in a research report on Tuesday, December 20th. Jefferies Financial Group lowered their price objective on Yelp from $40.00 to $38.00 and set a “hold” rating for the company in a research report on Thursday, October 6th. Finally, Morgan Stanley lowered their price objective on Yelp from $34.00 to $26.00 and set an “underweight” rating for the company in a research report on Wednesday, January 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $34.38.
Yelp Company Profile
Yelp, Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company’s platform covers various local business categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.
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