Stoneridge Investment Partners LLC bought a new position in Yelp Inc. (NYSE:YELP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,830 shares of the local business review company’s stock, valued at approximately $385,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Pier 88 Investment Partners LLC increased its stake in Yelp by 1.7% in the second quarter. Pier 88 Investment Partners LLC now owns 17,580 shares of the local business review company’s stock worth $528,000 after buying an additional 300 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Yelp by 11.8% in the first quarter. Teacher Retirement System of Texas now owns 6,167 shares of the local business review company’s stock worth $202,000 after buying an additional 653 shares in the last quarter. Millie Capital Management LLC boosted its position in shares of Yelp by 1.2% in the first quarter. Millie Capital Management LLC now owns 64,378 shares of the local business review company’s stock valued at $2,108,000 after buying an additional 775 shares during the period. United Capital Financial Advisers LLC boosted its position in shares of Yelp by 12.7% in the first quarter. United Capital Financial Advisers LLC now owns 11,447 shares of the local business review company’s stock valued at $375,000 after buying an additional 1,292 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Yelp by 98.8% in the second quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock valued at $123,000 after buying an additional 2,033 shares during the period. 94.79% of the stock is owned by institutional investors and hedge funds.

Yelp Inc. (NYSE YELP) opened at 42.03 on Friday. Yelp Inc. has a one year low of $26.93 and a one year high of $43.41. The company’s 50-day moving average price is $33.08 and its 200-day moving average price is $33.42. The stock has a market cap of $3.44 billion, a P/E ratio of 261.06 and a beta of 1.48.

Yelp (NYSE:YELP) last announced its quarterly earnings data on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.12. The business had revenue of $209.90 million during the quarter, compared to the consensus estimate of $204.89 million. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 earnings per share. Analysts forecast that Yelp Inc. will post $0.07 EPS for the current fiscal year.

Yelp declared that its Board of Directors has approved a share buyback program on Thursday, August 3rd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the local business review company to repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its stock is undervalued.

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Several brokerages have recently weighed in on YELP. Robert W. Baird reiterated a “neutral” rating and issued a $37.00 price target (up from $26.00) on shares of Yelp in a research report on Thursday. UBS AG reiterated a “sell” rating and issued a $30.00 price target (up from $28.00) on shares of Yelp in a research report on Wednesday. B. Riley reiterated a “neutral” rating and issued a $36.00 price target on shares of Yelp in a research report on Wednesday. Cowen and Company reiterated a “market perform” rating and issued a $38.00 price target (up from $33.00) on shares of Yelp in a research report on Wednesday. Finally, Zacks Investment Research upgraded Yelp from a “sell” rating to a “hold” rating and set a $48.00 price target for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eighteen have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $37.95.

In other Yelp news, SVP Laurence Wilson sold 3,128 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total value of $88,303.44. Following the completion of the sale, the senior vice president now owns 181,947 shares of the company’s stock, valued at $5,136,363.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Geoffrey L. Donaker sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $28.90, for a total transaction of $115,600.00. Following the completion of the sale, the director now directly owns 9,590 shares of the company’s stock, valued at approximately $277,151. The disclosure for this sale can be found here. In the last three months, insiders sold 119,751 shares of company stock valued at $4,261,130. 10.10% of the stock is owned by insiders.

About Yelp

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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Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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