Seven Eight Capital LP Acquires New Position in Yelp Inc (YELP)

Seven Eight Capital LP acquired a new position in Yelp Inc (NYSE:YELP) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 81,102 shares of the local business review company’s stock, valued at approximately $3,990,000. Seven Eight Capital LP owned 0.10% of Yelp as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in YELP. Janus Henderson Group PLC bought a new position in shares of Yelp in the second quarter worth about $206,000. Gideon Capital Advisors Inc. bought a new position in shares of Yelp in the second quarter worth about $245,000. AMP Capital Investors Ltd bought a new position in shares of Yelp in the second quarter worth about $305,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Yelp in the second quarter worth about $367,000. Finally, Xact Kapitalforvaltning AB boosted its stake in shares of Yelp by 48.1% in the first quarter. Xact Kapitalforvaltning AB now owns 11,081 shares of the local business review company’s stock worth $463,000 after acquiring an additional 3,600 shares during the period. 92.07% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on YELP shares. Zacks Investment Research lowered Yelp from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. Wedbush reissued an “outperform” rating and set a $60.00 price target on shares of Yelp in a research note on Thursday, September 13th. Robert W. Baird increased their price target on Yelp from $44.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, August 9th. Royal Bank of Canada increased their price target on Yelp to $62.00 and gave the company an “outperform” rating in a research note on Monday, September 17th. Finally, JPMorgan Chase & Co. increased their price target on Yelp to $57.00 and gave the company an “overweight” rating in a research note on Thursday, August 9th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $49.24.

In other news, COO Joseph R. Nachman sold 16,303 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The stock was sold at an average price of $50.00, for a total value of $815,150.00. Following the completion of the sale, the chief operating officer now directly owns 131,734 shares of the company’s stock, valued at approximately $6,586,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Geoffrey L. Donaker sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $41.00, for a total value of $82,000.00. Following the completion of the sale, the director now directly owns 8,055 shares of the company’s stock, valued at $330,255. The disclosure for this sale can be found here. Insiders sold a total of 220,803 shares of company stock valued at $10,077,875 over the last ninety days. Corporate insiders own 9.00% of the company’s stock.

NYSE:YELP opened at $42.49 on Friday. The company has a market capitalization of $3.68 billion, a PE ratio of 601.43, a P/E/G ratio of 7.36 and a beta of 1.21. Yelp Inc has a 1 year low of $36.42 and a 1 year high of $52.50.

Yelp (NYSE:YELP) last posted its quarterly earnings data on Wednesday, August 8th. The local business review company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.14. The business had revenue of $234.90 million during the quarter, compared to analyst estimates of $232.26 million. Yelp had a return on equity of 0.74% and a net margin of 17.64%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. On average, sell-side analysts predict that Yelp Inc will post 0.3 earnings per share for the current fiscal year.

About Yelp

Yelp Inc operates a platform that connects people with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.

Further Reading: Ex-Dividend

Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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