First Trust Advisors LP Trims Position in Yelp Inc (YELP)

First Trust Advisors LP decreased its position in shares of Yelp Inc (NYSE:YELP) by 36.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,735 shares of the local business review company’s stock after selling 16,248 shares during the period. First Trust Advisors LP’s holdings in Yelp were worth $1,414,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Yelp by 106.3% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 97,946 shares of the local business review company’s stock worth $3,838,000 after purchasing an additional 50,470 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Yelp by 1.3% in the second quarter. Victory Capital Management Inc. now owns 1,127,765 shares of the local business review company’s stock worth $44,186,000 after purchasing an additional 14,145 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Yelp by 0.5% in the second quarter. Sei Investments Co. now owns 371,720 shares of the local business review company’s stock worth $14,564,000 after purchasing an additional 1,924 shares during the last quarter. Engineers Gate Manager LP grew its holdings in shares of Yelp by 290.3% in the second quarter. Engineers Gate Manager LP now owns 36,993 shares of the local business review company’s stock worth $1,449,000 after purchasing an additional 27,515 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of Yelp by 4.9% in the second quarter. Rhumbline Advisers now owns 79,129 shares of the local business review company’s stock worth $3,100,000 after purchasing an additional 3,704 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

YELP has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Yelp from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Thursday, September 6th. Jefferies Financial Group upped their price target on shares of Yelp from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Wells Fargo & Co set a $34.00 price target on shares of Yelp and gave the stock a “buy” rating in a report on Friday, November 9th. Citigroup dropped their target price on shares of Yelp to $42.00 and set a “buy” rating on the stock in a report on Monday, November 12th. Finally, DA Davidson dropped their target price on shares of Yelp to $43.00 and set a “buy” rating on the stock in a report on Monday, November 12th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $41.86.

In other Yelp news, CEO Jeremy Stoppelman sold 13,000 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $44.69, for a total transaction of $580,970.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joseph R. Nachman sold 10,500 shares of the stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $49.77, for a total transaction of $522,585.00. Following the sale, the chief operating officer now directly owns 119,935 shares of the company’s stock, valued at $5,969,164.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 187,355 shares of company stock valued at $8,218,951. Insiders own 9.00% of the company’s stock.

Shares of Yelp stock opened at $34.41 on Friday. Yelp Inc has a 1 year low of $29.33 and a 1 year high of $52.50. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 491.57, a price-to-earnings-growth ratio of 3.83 and a beta of 1.30.

Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, November 8th. The local business review company reported $0.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.09. The business had revenue of $241.10 million during the quarter, compared to analyst estimates of $245.55 million. Yelp had a net margin of 18.04% and a return on equity of 1.34%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share. On average, equities analysts anticipate that Yelp Inc will post 0.37 earnings per share for the current year.

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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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