Quinn Opportunity Partners LLC increased its position in shares of Yelp Inc. (NYSE:YELP – Get Rating) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 138,256 shares of the local business review company's stock after purchasing an additional 8,738 shares during the period. Quinn Opportunity Partners LLC owned 0.19% of Yelp worth $4,716,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in Yelp in the first quarter valued at $826,000. Guggenheim Capital LLC lifted its position in Yelp by 115.6% in the first quarter. Guggenheim Capital LLC now owns 26,071 shares of the local business review company's stock valued at $889,000 after acquiring an additional 13,981 shares during the last quarter. PDT Partners LLC lifted its position in Yelp by 11.7% in the first quarter. PDT Partners LLC now owns 82,234 shares of the local business review company's stock valued at $2,805,000 after acquiring an additional 8,646 shares during the last quarter. Captrust Financial Advisors lifted its position in Yelp by 16.2% in the first quarter. Captrust Financial Advisors now owns 4,033 shares of the local business review company's stock valued at $138,000 after acquiring an additional 563 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Yelp in the first quarter valued at $605,000. Institutional investors and hedge funds own 93.23% of the company's stock.
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Yelp Stock Performance
YELP traded down $1.03 on Tuesday, hitting $35.28. 23,215 shares of the company were exchanged, compared to its average volume of 572,790. The business's fifty day moving average is $32.96 and its 200 day moving average is $32.14. Yelp Inc. has a fifty-two week low of $26.28 and a fifty-two week high of $41.28. The firm has a market capitalization of $2.51 billion, a P/E ratio of 56.87 and a beta of 1.54.
Yelp (NYSE:YELP – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The local business review company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.01 by $0.10. The business had revenue of $298.90 million for the quarter, compared to analyst estimates of $284.30 million. Yelp had a net
margin of 4.32% and a return on equity of 6.50%. The company's quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share. Analysts forecast that Yelp Inc. will post 0.63 EPS for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently weighed in on YELP. Evercore ISI boosted their price target on shares of Yelp from $35.00 to $41.00 and gave the company an "in-line" rating in a research report on Friday, August 5th. Credit Suisse Group upped their target price on shares of Yelp from $45.00 to $49.00 and gave the company an "outperform" rating in a report on Monday, August 8th. The Goldman Sachs Group upped their target price on shares of Yelp from $33.00 to $37.00 and gave the company a "neutral" rating in a report on Monday, August 8th. Morgan Stanley reduced their target price on shares of Yelp from $34.00 to $33.00 and set an "underweight" rating for the company in a report on Tuesday, July 19th. Finally, StockNews.com cut shares of Yelp from a "strong-buy" rating to a "buy" rating in a report on Thursday, July 14th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $38.00.
Insider Buying and Selling
In related news, CFO David A. Schwarzbach sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 15th. The shares were sold at an average price of $28.00, for a total transaction of $56,000.00. Following the sale, the chief financial officer now owns 203,058 shares in the company, valued at $5,685,624. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Yelp news, COO Joseph R. Nachman sold 6,000 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $35.21, for a total transaction of $211,260.00. Following the transaction, the chief operating officer now owns 298,983 shares of the company's stock, valued at $10,527,191.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO David A. Schwarzbach sold 2,000 shares of the stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $28.00, for a total transaction of $56,000.00. Following the transaction, the chief financial officer now directly owns 203,058 shares in the company, valued at approximately $5,685,624. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,000 shares of company stock worth $757,540. 7.70% of the stock is owned by insiders.
Yelp Profile
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Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.
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