Yelp Inc. (YELP) Holdings Boosted by First Manhattan Co.
First Manhattan Co. raised its stake in shares of Yelp Inc. (NYSE:YELP) by 17.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 437,393 shares of the local business review company’s stock after acquiring an additional 65,683 shares during the period. First Manhattan Co. owned about 0.53% of Yelp worth $18,939,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of YELP. Strs Ohio bought a new stake in shares of Yelp during the 2nd quarter worth $108,000. FNY Partners Fund LP increased its holdings in Yelp by 18,650.0% in the 1st quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock worth $122,000 after acquiring an additional 3,730 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in 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 worth $123,000 after acquiring an additional 2,033 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Yelp in the 2nd quarter worth about $205,000. Finally, ProShare Advisors LLC purchased a new stake in Yelp in the 2nd quarter worth about $215,000. Institutional investors and hedge funds own 89.28% of the company’s stock.
In other Yelp news, Director Geoffrey L. Donaker sold 6,000 shares of Yelp stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $43.90, for a total transaction of $263,400.00. Following the completion of the transaction, the director now owns 9,590 shares of the company’s stock, valued at approximately $421,001. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laurence Wilson sold 10,000 shares of Yelp stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $45.18, for a total value of $451,800.00. Following the transaction, the insider now directly owns 187,739 shares of the company’s stock, valued at approximately $8,482,048.02. The disclosure for this sale can be found here. Insiders have sold a total of 366,481 shares of company stock worth $15,712,350 over the last quarter. Company insiders own 10.10% of the company’s stock.
A number of research firms have weighed in on YELP. Cantor Fitzgerald reaffirmed a “hold” rating and set a $44.00 target price on shares of Yelp in a report on Wednesday. Roth Capital boosted their price objective on Yelp from $35.00 to $41.00 and gave the stock a “neutral” rating in a report on Tuesday. SunTrust Banks, Inc. reissued a “buy” rating and set a $44.00 price objective on shares of Yelp in a report on Friday, October 27th. Zacks Investment Research lowered Yelp from a “buy” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Credit Suisse Group reissued an “outperform” rating and set a $48.00 price objective (up previously from $40.00) on shares of Yelp in a report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, twenty have issued a hold rating and nineteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $41.06.
Yelp Inc. (NYSE:YELP) opened at 46.72 on Wednesday. The company has a market cap of $3.82 billion, a price-to-earnings ratio of 295.70 and a beta of 1.34. The firm has a 50-day moving average of $44.18 and a 200-day moving average of $36.59. Yelp Inc. has a 52 week low of $26.93 and a 52 week high of $47.20.
Yelp (NYSE:YELP) last issued its earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The company had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. During the same period last year, the business earned $0.16 EPS. Yelp’s quarterly revenue was up 21.0% compared to the same quarter last year. Equities analysts forecast that Yelp Inc. will post $0.07 earnings per share for the current year.
Yelp announced that its Board of Directors has authorized a stock buyback plan on Thursday, August 3rd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the local business review company to reacquire up to 7.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
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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