Pier 88 Investment Partners LLC Has $528,000 Position in Yelp Inc. (YELP)
Pier 88 Investment Partners LLC increased its position in shares of Yelp Inc. (NYSE:YELP) by 1.7% during the second quarter, Holdings Channel reports. The fund owned 17,580 shares of the local business review company’s stock after buying an additional 300 shares during the period. Pier 88 Investment Partners LLC’s holdings in Yelp were worth $528,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. FNY Partners Fund LP raised its position in Yelp by 18,650.0% in the first quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock worth $122,000 after buying an additional 3,730 shares during the last quarter. Neuburgh Advisers LLC bought a new position in Yelp during the first quarter worth $133,000. Independent Portfolio Consultants Inc. bought a new position in Yelp during the first quarter worth $159,000. FNY Managed Accounts LLC bought a new position in Yelp during the first quarter worth $163,000. Finally, Tyers Asset Management LLC bought a new position in Yelp during the first quarter worth $169,000. Institutional investors and hedge funds own 89.18% of the company’s stock.
Shares of Yelp Inc. (NYSE YELP) traded down 0.31% during trading on Monday, hitting $31.79. 1,094,522 shares of the company were exchanged. The stock has a market cap of $2.56 billion, a P/E ratio of 429.59 and a beta of 1.46. Yelp Inc. has a 12 month low of $26.93 and a 12 month high of $43.41. The company’s 50-day moving average price is $29.25 and its 200 day moving average price is $34.46.
Yelp (NYSE:YELP) last released its quarterly earnings results on Tuesday, May 9th. The local business review company reported ($0.06) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. Yelp had a net margin of 0.80% and a return on equity of 0.77%. The firm had revenue of $197.32 million for the quarter, compared to the consensus estimate of $198.51 million. During the same quarter in the previous year, the firm posted $0.08 EPS. The firm’s quarterly revenue was up 24.4% on a year-over-year basis. On average, equities analysts predict that Yelp Inc. will post ($0.08) earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Yelp in a research note on Monday, April 10th. Royal Bank Of Canada reduced their price objective on Yelp from $46.00 to $29.00 and set a “market perform” rating for the company in a research note on Thursday, May 11th. Citigroup Inc. upgraded Yelp from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $39.00 to $35.00 in a research note on Thursday, May 11th. Zacks Investment Research lowered Yelp from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. Finally, William Blair reiterated a “market perform” rating on shares of Yelp in a research note on Wednesday, May 10th. Three investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $35.15.
In other news, Director Geoffrey L. Donaker sold 4,000 shares of the business’s stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $32.47, for a total value of $129,880.00. Following the completion of the sale, the director now owns 9,590 shares of the company’s stock, valued at approximately $311,387.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Laurence Wilson sold 3,128 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $28.23, for a total transaction of $88,303.44. Following the completion of the sale, the senior vice president now directly owns 181,947 shares of the company’s stock, valued at approximately $5,136,363.81. The disclosure for this sale can be found here. Insiders have sold a total of 67,751 shares of company stock worth $2,070,595 in the last ninety days. 10.10% of the stock is currently 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 offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.
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