Yelp Inc. (YELP) Stake Raised by Global X Management Co. LLC
Global X Management Co. LLC increased its stake in Yelp Inc. (NYSE:YELP) by 77.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 102,783 shares of the local business review company’s stock after buying an additional 44,845 shares during the period. Global X Management Co. LLC’s holdings in Yelp were worth $4,286,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of YELP. Concourse Capital Management LLC acquired a new position in shares of Yelp during the second quarter valued at $278,000. Columbus Circle Investors purchased a new position in Yelp during the second quarter worth $671,000. Commerzbank Aktiengesellschaft FI boosted its position in Yelp by 5.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 18,587 shares of the local business review company’s stock worth $564,000 after buying an additional 962 shares during the period. California State Teachers Retirement System boosted its position in Yelp by 5.1% in the second quarter. California State Teachers Retirement System now owns 144,994 shares of the local business review company’s stock worth $4,402,000 after buying an additional 6,985 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Yelp by 4.7% in the second quarter. Bank of New York Mellon Corp now owns 217,663 shares of the local business review company’s stock worth $6,610,000 after buying an additional 9,844 shares during the period. Institutional investors own 73.10% of the company’s stock.
Yelp Inc. (NYSE:YELP) traded down 2.90% during mid-day trading on Wednesday, hitting $37.20. 1,425,712 shares of the stock were exchanged. The company has a 50 day moving average price of $36.31 and a 200 day moving average price of $33.58. Yelp Inc. has a 52-week low of $14.53 and a 52-week high of $43.36. The firm’s market cap is $2.92 billion.
Yelp (NYSE:YELP) last issued its quarterly earnings results on Wednesday, November 2nd. The local business review company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.25. Yelp had a negative net margin of 5.23% and a negative return on equity of 4.58%. The company earned $186.20 million during the quarter, compared to the consensus estimate of $183 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The firm’s quarterly revenue was up 29.7% on a year-over-year basis. On average, analysts anticipate that Yelp Inc. will post ($0.14) EPS for the current year.
A number of research analysts recently weighed in on the stock. B. Riley restated a “neutral” rating and set a $27.00 target price on shares of Yelp in a research note on Wednesday, August 10th. Zacks Investment Research cut shares of Yelp from a “buy” rating to a “hold” rating in a research note on Wednesday. Wedbush lifted their target price on shares of Yelp from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, August 10th. Morgan Stanley lifted their target price on shares of Yelp from $19.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 9th. Finally, Cantor Fitzgerald lifted their price target on shares of Yelp from $38.00 to $42.00 and gave the company a “buy” rating in a report on Monday, August 8th. Three research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have given a buy rating to the stock. Yelp presently has a consensus rating of “Hold” and an average target price of $37.00.
In related news, SVP Michael Stoppelman sold 5,000 shares of Yelp stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $37.58, for a total value of $187,900.00. Following the completion of the transaction, the senior vice president now owns 129,167 shares in the company, valued at $4,854,095.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Geoffrey L. Donaker sold 4,000 shares of Yelp stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $37.58, for a total transaction of $150,320.00. Following the completion of the transaction, the director now owns 4,000 shares of the company’s stock, valued at approximately $150,320. The disclosure for this sale can be found here. 11.08% of the stock is currently owned by corporate 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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