Yelp Inc. (YELP) Holdings Cut by Macquarie Group Ltd.
Macquarie Group Ltd. trimmed its holdings in shares of Yelp Inc. (NYSE:YELP) by 21.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 761,558 shares of the local business review company’s stock after selling 204,147 shares during the period. Macquarie Group Ltd. owned 0.93% of Yelp worth $32,976,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in YELP. Strs Ohio purchased a new stake in shares of Yelp in the 2nd quarter valued at about $108,000. Russell Investments Group Ltd. lifted its holdings in shares of Yelp by 98.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock valued at $123,000 after purchasing an additional 2,033 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Yelp in the 2nd quarter valued at about $205,000. ProShare Advisors LLC purchased a new stake in shares of Yelp in the 2nd quarter valued at about $215,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Yelp in the 2nd quarter valued at about $249,000. 85.66% of the stock is owned by institutional investors.
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In related news, Director Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $47.00, for a total value of $282,000.00. Following the sale, the director now owns 9,590 shares in the company, valued at approximately $450,730. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeremy Stoppelman sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $43.15, for a total value of $560,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 292,871 shares of company stock worth $13,007,970 in the last quarter. 10.10% of the stock is currently owned by insiders.
Yelp Inc. (NYSE YELP) traded up $0.21 during midday trading on Friday, reaching $47.18. The company’s stock had a trading volume of 697,200 shares, compared to its average volume of 2,525,165. Yelp Inc. has a 52 week low of $26.93 and a 52 week high of $48.17. The firm has a market cap of $3,910.70, a PE ratio of 214.46, a price-to-earnings-growth ratio of 10.60 and a beta of 1.29.
Yelp (NYSE:YELP) last released its earnings results on Wednesday, November 1st. The local business review company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $222.40 million for the quarter, compared to analysts’ expectations of $220.75 million. During the same quarter in the previous year, the firm posted $0.22 EPS. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. equities research analysts forecast that Yelp Inc. will post 0.17 EPS for the current year.
Yelp announced that its board has authorized a share repurchase program on Thursday, August 3rd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the local business review company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Several analysts have recently weighed in on the company. B. Riley reissued a “neutral” rating and issued a $36.00 target price on shares of Yelp in a report on Friday, August 4th. Cowen Inc restated a “market perform” rating and issued a $38.00 price target (up previously from $33.00) on shares of Yelp in a research report on Wednesday, August 9th. Zacks Investment Research cut Yelp from a “buy” rating to a “hold” rating in a research report on Thursday. Robert W. Baird boosted their price target on Yelp from $37.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Finally, Citigroup Inc. boosted their price target on Yelp from $42.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $43.31.
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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