Advisors Asset Management Inc. lowered its stake in Yelp Inc. (NYSE:YELP) by 12.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,722 shares of the local business review company’s stock after selling 3,531 shares during the period. Advisors Asset Management Inc.’s holdings in Yelp were worth $751,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in Yelp by 0.6% in the first quarter. Royal Bank of Canada now owns 651,922 shares of the local business review company’s stock valued at $12,960,000 after buying an additional 3,570 shares during the period. Los Angeles Capital Management & Equity Research Inc. raised its position in Yelp by 1,840.8% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 526,360 shares of the local business review company’s stock valued at $15,980,000 after buying an additional 499,239 shares during the period. Fisher Asset Management LLC raised its position in Yelp by 2.8% in the second quarter. Fisher Asset Management LLC now owns 391,351 shares of the local business review company’s stock valued at $11,670,000 after buying an additional 10,486 shares during the period. Orbis Allan Gray Ltd bought a new position in Yelp during the first quarter valued at approximately $7,734,000. Finally, Retirement Systems of Alabama raised its position in Yelp by 12.1% in the second quarter. Retirement Systems of Alabama now owns 370,000 shares of the local business review company’s stock valued at $11,233,000 after buying an additional 40,000 shares during the period. 74.90% of the stock is owned by institutional investors.
Shares of Yelp Inc. (NYSE:YELP) traded up 1.66% during midday trading on Friday, reaching $39.10. 5,544,475 shares of the company’s stock traded hands. The firm’s market capitalization is $3.02 billion. The stock’s 50-day moving average price is $37.25 and its 200 day moving average price is $28.01. Yelp Inc. has a one year low of $14.53 and a one year high of $41.47.
Yelp (NYSE:YELP) last posted its quarterly earnings results on Tuesday, August 9th. The local business review company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.08. The business earned $173.40 million during the quarter, compared to analysts’ expectations of $169.82 million. Yelp had a negative return on equity of 6.14% and a negative net margin of 7.20%. The company’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same period last year, the firm earned $0.12 EPS. On average, equities research analysts expect that Yelp Inc. will post ($0.19) earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the company. Zacks Investment Research upgraded Yelp from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Tuesday, July 12th. Mizuho upgraded shares of Yelp from a “neutral” rating to a “buy” rating and upped their price target for the company from $24.00 to $40.00 in a research report on Wednesday, August 10th. RBC Capital Markets restated an “outperform” rating and issued a $48.00 price target (up from $36.00) on shares of Yelp in a research report on Thursday, August 11th. Royal Bank Of Canada upped their price target on shares of Yelp from $36.00 to $48.00 and gave the company an “outperform” rating in a research report on Wednesday, August 10th. Finally, Vetr raised shares of Yelp from a “sell” rating to a “hold” rating and set a $39.32 price objective for the company in a report on Monday, September 5th. Five equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $34.98.
In related news, COO Geoffrey L. Donaker sold 6,000 shares of Yelp stock in a transaction on Wednesday, June 29th. The stock was sold at an average price of $28.32, for a total transaction of $169,920.00. Following the completion of the transaction, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at $169,920. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Michael Stoppelman sold 5,000 shares of Yelp stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $38.19, for a total value of $190,950.00. Following the transaction, the senior vice president now directly owns 131,948 shares of the company’s stock, valued at $5,039,094.12. The disclosure for this sale can be found here. 11.08% of the stock is owned by insiders.
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 provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.
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