Steward Partners Investment Advisory LLC Invests $194,000 in Yelp Inc (YELP)

Steward Partners Investment Advisory LLC purchased a new stake in shares of Yelp Inc (NYSE:YELP) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 3,951 shares of the local business review company’s stock, valued at approximately $194,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in YELP. Canada Pension Plan Investment Board grew its position in Yelp by 203.0% in the second quarter. Canada Pension Plan Investment Board now owns 111,200 shares of the local business review company’s stock worth $4,357,000 after acquiring an additional 74,500 shares in the last quarter. Tenzing Global Management LLC grew its position in Yelp by 4.0% in the second quarter. Tenzing Global Management LLC now owns 650,000 shares of the local business review company’s stock worth $25,467,000 after acquiring an additional 25,000 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Yelp by 5,612.0% in the second quarter. PNC Financial Services Group Inc. now owns 36,157 shares of the local business review company’s stock worth $1,418,000 after acquiring an additional 35,524 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its position in Yelp by 7.2% in the second quarter. Metropolitan Life Insurance Co. NY now owns 26,363 shares of the local business review company’s stock worth $1,033,000 after acquiring an additional 1,760 shares in the last quarter. Finally, Pacific Grove Capital LP purchased a new position in Yelp in the second quarter worth $1,567,000. Hedge funds and other institutional investors own 86.20% of the company’s stock.

Several analysts have issued reports on the stock. Barclays upped their price target on shares of Yelp from $47.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, August 9th. JPMorgan Chase & Co. upped their price target on shares of Yelp to $57.00 and gave the company an “overweight” rating in a research report on Thursday, August 9th. Stifel Nicolaus upped their price target on shares of Yelp from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Thursday, August 9th. Zacks Investment Research lowered shares of Yelp from a “buy” rating to a “hold” rating in a research report on Tuesday, August 28th. Finally, KeyCorp restated a “hold” rating on shares of Yelp in a research report on Thursday, August 9th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. Yelp has a consensus rating of “Hold” and a consensus price target of $49.95.

Shares of NYSE:YELP opened at $43.69 on Friday. The stock has a market cap of $3.48 billion, a PE ratio of 624.14, a PEG ratio of 6.98 and a beta of 1.21. Yelp Inc has a 12 month low of $36.42 and a 12 month high of $52.50.

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

In other news, CEO Jeremy Stoppelman sold 13,000 shares of the company’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $44.00, for a total transaction of $572,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph R. Nachman sold 16,303 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $50.00, for a total transaction of $815,150.00. Following the transaction, the chief operating officer now directly owns 131,734 shares of the company’s stock, valued at $6,586,700. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 226,803 shares of company stock valued at $10,391,885. Insiders own 9.00% of the company’s stock.

Yelp Company Profile

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.

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Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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