Russell Investments Group Ltd. Buys 134,757 Shares of Yelp Inc (YELP)
Russell Investments Group Ltd. lifted its stake in Yelp Inc (NYSE:YELP) by 3,294.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,848 shares of the local business review company’s stock after buying an additional 134,757 shares during the period. Russell Investments Group Ltd. owned approximately 0.17% of Yelp worth $6,012,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Yelp by 4.1% during the second quarter. Vanguard Group Inc. now owns 5,935,362 shares of the local business review company’s stock worth $178,180,000 after purchasing an additional 231,754 shares during the last quarter. BlackRock Inc. lifted its stake in Yelp by 84.9% during the second quarter. BlackRock Inc. now owns 5,232,684 shares of the local business review company’s stock worth $157,084,000 after purchasing an additional 2,403,240 shares during the last quarter. Prescott General Partners LLC lifted its stake in Yelp by 21.3% during the second quarter. Prescott General Partners LLC now owns 3,851,774 shares of the local business review company’s stock worth $115,630,000 after purchasing an additional 676,251 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Yelp by 17.7% during the third quarter. Fisher Asset Management LLC now owns 2,893,867 shares of the local business review company’s stock worth $125,304,000 after purchasing an additional 434,574 shares during the last quarter. Finally, Southpoint Capital Advisors LP bought a new stake in Yelp during the second quarter worth $66,044,000. Institutional investors and hedge funds own 85.75% of the company’s stock.
Several research firms have weighed in on YELP. ValuEngine cut Yelp from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. Zacks Investment Research cut Yelp from a “buy” rating to a “hold” rating in a research note on Saturday, December 2nd. Citigroup upped their target price on Yelp from $42.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, October 2nd. Robert W. Baird upped their target price on Yelp from $37.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Finally, Evercore ISI began coverage on Yelp in a research note on Tuesday, December 5th. They set an “in-line” rating and a $46.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $43.51.
Yelp (NYSE:YELP) last issued its quarterly earnings results on Wednesday, November 1st. The local business review company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.30. Yelp had a return on equity of 2.20% and a net margin of 2.31%. The firm had revenue of $222.40 million during the quarter, compared to the consensus estimate of $220.75 million. During the same period last year, the business posted $0.22 EPS. The business’s revenue was up 19.4% compared to the same quarter last year. research analysts forecast that Yelp Inc will post 0.17 earnings per share for the current year.
In other news, insider Laurence Wilson sold 25,000 shares of the stock in a transaction dated Wednesday, October 25th. The shares were sold at an average price of $44.08, for a total transaction of $1,102,000.00. Following the transaction, the insider now owns 195,610 shares of the company’s stock, valued at approximately $8,622,488.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alan Ramsay sold 592 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $46.92, for a total transaction of $27,776.64. Following the transaction, the insider now directly owns 20,048 shares in the company, valued at approximately $940,652.16. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 333,956 shares of company stock valued at $14,979,678. Company insiders own 10.10% of the company’s stock.
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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