Retirement Systems of Alabama raised its stake in Yelp Inc. (NYSE:YELP) by 12.1% during the second quarter, Holdings Channel reports. The institutional investor owned 370,000 shares of the local business review company’s stock after buying an additional 40,000 shares during the period. Retirement Systems of Alabama’s holdings in Yelp were worth $11,233,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its position in shares of 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. Fisher Asset Management LLC increased its position in shares of 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 purchased a new position in shares of Yelp during the first quarter valued at $7,734,000. Tairen Capital Ltd purchased a new position in shares of Yelp during the second quarter valued at $9,293,000. Finally, TIAA CREF Investment Management LLC increased its position in shares of Yelp by 1.7% in the first quarter. TIAA CREF Investment Management LLC now owns 195,107 shares of the local business review company’s stock valued at $3,879,000 after buying an additional 3,310 shares during the period. Institutional investors own 74.90% of the company’s stock.
Shares of Yelp Inc. (NYSE:YELP) traded up 0.14% during trading on Wednesday, reaching $42.16. 2,379,928 shares of the company traded hands. The stock’s 50 day moving average price is $38.82 and its 200-day moving average price is $29.39. The stock’s market cap is $3.26 billion. Yelp Inc. has a 12 month low of $14.53 and a 12 month high of $43.36.
Yelp (NYSE:YELP) last announced its quarterly earnings data on Tuesday, August 9th. The local business review company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.08. The firm 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 in the previous year, the business posted $0.12 EPS. On average, equities research analysts expect that Yelp Inc. will post ($0.19) EPS for the current fiscal year.
YELP has been the subject of several analyst reports. Cantor Fitzgerald restated a “buy” rating and issued a $42.00 target price on shares of Yelp in a research note on Tuesday, September 27th. Vetr upgraded shares of Yelp from a “hold” rating to a “buy” rating and set a $40.05 target price for the company in a research note on Monday, September 12th. Needham & Company LLC upped their target price on shares of Yelp from $34.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Jefferies Group restated a “buy” rating on shares of Yelp in a research note on Monday, July 11th. Finally, Raymond James Financial Inc. raised shares of Yelp from a “market perform” rating to an “outperform” rating and set a $45.00 price target on the stock in a report on Wednesday, August 10th. Four 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 stock. Yelp currently has an average rating of “Hold” and a consensus price target of $35.61.
In other news, CEO Jeremy Stoppelman sold 263,000 shares of the business’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $40.00, for a total transaction of $10,520,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joseph R. Nachman sold 2,508 shares of the business’s stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $37.45, for a total value of $93,924.60. The disclosure for this sale can be found here. Company insiders own 11.08% 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 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.
Want to see what other hedge funds are holding YELP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Yelp Inc. (NYSE:YELP).
Receive News & Ratings for Yelp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.