Daiwa Securities Group Inc. lowered its position in Yelp Inc. (NYSE:YELP) by 11.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 72,537 shares of the local business review company’s stock after selling 9,763 shares during the period. Daiwa Securities Group Inc.’s holdings in Yelp were worth $2,202,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. IBM Retirement Fund acquired a new stake in Yelp during the second quarter valued at approximately $209,000. Fisher Asset Management LLC boosted its stake 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 in the last quarter. Royal Bank of Canada boosted its stake 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 in the last quarter. Sterling Ridge Capital Management LP acquired a new stake in Yelp during the first quarter valued at approximately $431,000. Finally, Orbis Allan Gray Ltd acquired a new stake in Yelp during the first quarter valued at approximately $7,734,000. Institutional investors and hedge funds own 74.90% of the company’s stock.
Yelp Inc. (NYSE:YELP) traded up 2.39% on Friday, hitting $39.38. 6,651,887 shares of the stock were exchanged. Yelp Inc. has a 1-year low of $14.53 and a 1-year high of $41.47. The company has a 50-day moving average price of $37.46 and a 200 day moving average price of $28.14. The company’s market capitalization is $3.05 billion.
Yelp (NYSE:YELP) last issued its earnings results on Tuesday, August 9th. The local business review company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.08. The company had revenue of $173.40 million for the quarter, compared to analysts’ expectations of $169.82 million. Yelp had a negative net margin of 7.20% and a negative return on equity of 6.14%. Yelp’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 EPS. Analysts anticipate that Yelp Inc. will post ($0.19) EPS for the current fiscal year.
Several analysts recently commented on YELP shares. Vetr upgraded Yelp from a “hold” rating to a “buy” rating and set a $40.05 target price on the stock in a research report on Monday, September 12th. Needham & Company LLC raised their target price on Yelp from $34.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Jefferies Group restated a “buy” rating on shares of Yelp in a research report on Monday, July 11th. Raymond James Financial Inc. upgraded Yelp from a “market perform” rating to an “outperform” rating and set a $45.00 target price on the stock in a research report on Wednesday, August 10th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $38.00 target price on shares of Yelp in a research report on Sunday, June 5th. Five investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $34.98.
In other Yelp news, COO Geoffrey L. Donaker sold 6,000 shares of the stock in a transaction dated Wednesday, June 29th. The shares were sold at an average price of $28.32, for a total value of $169,920.00. Following the transaction, the chief operating officer now directly owns 6,000 shares of the company’s stock, valued at approximately $169,920. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael Stoppelman sold 2,781 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $37.45, for a total transaction of $104,148.45. Following the completion of the transaction, the senior vice president now directly owns 131,948 shares in the company, valued at $4,941,452.60. The disclosure for this sale can be found here. 11.08% of the stock is currently owned by insiders.
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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