Yelp Inc. (YELP) Stake Lessened by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. lowered its stake in shares of Yelp Inc. (NYSE:YELP) by 93.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,865 shares of the local business review company’s stock after selling 217,612 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Yelp were worth $643,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of YELP. Strs Ohio acquired a new position in shares of Yelp during the second quarter valued at about $108,000. Russell Investments Group Ltd. increased its holdings in shares of Yelp by 98.8% during 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 acquiring an additional 2,033 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Yelp during the second quarter valued at about $205,000. ProShare Advisors LLC acquired a new position in shares of Yelp during the second quarter valued at about $215,000. Finally, Prudential Financial Inc. acquired a new position in shares of Yelp during the second quarter valued at about $249,000. Hedge funds and other institutional investors own 87.69% of the company’s stock.
YELP has been the topic of a number of recent research reports. Piper Jaffray Companies reiterated a “hold” rating and issued a $37.00 target price on shares of Yelp in a research report on Friday, August 4th. Roth Capital upgraded Yelp from a “sell” rating to a “neutral” rating and upped their target price for the company from $21.00 to $35.00 in a research report on Friday, August 4th. KeyCorp reiterated a “buy” rating and issued a $54.00 target price on shares of Yelp in a research report on Tuesday, October 17th. Cantor Fitzgerald reiterated a “hold” rating and issued a $44.00 target price on shares of Yelp in a research report on Wednesday, November 1st. Finally, B. Riley reiterated a “hold” rating and issued a $39.00 target price on shares of Yelp in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Yelp presently has an average rating of “Buy” and a consensus target price of $43.37.
Yelp Inc. (NYSE YELP) opened at $45.90 on Tuesday. The stock has a market capitalization of $3,811.24, a PE ratio of 209.00, a PEG ratio of 10.33 and a beta of 1.29. Yelp Inc. has a 52 week low of $26.93 and a 52 week high of $48.17.
Yelp (NYSE:YELP) last announced its quarterly earnings data on Wednesday, November 1st. The local business review company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.30. The business had revenue of $222.40 million during the quarter, compared to analysts’ expectations of $220.75 million. Yelp had a return on equity of 2.20% and a net margin of 2.31%. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.22 EPS. analysts expect that Yelp Inc. will post 0.17 earnings per share for the current year.
Yelp declared that its board has approved a stock repurchase program on Thursday, August 3rd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the local business review company to buy up to 7.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
In other news, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $41.94, for a total transaction of $545,220.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Charles Baker sold 3,921 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $41.45, for a total value of $162,525.45. Following the sale, the chief financial officer now directly owns 112,941 shares in the company, valued at approximately $4,681,404.45. The disclosure for this sale can be found here. Insiders sold a total of 300,481 shares of company stock valued at $13,254,185 in the last quarter. 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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