Yelp Inc. (NYSE:YELP) Shares Acquired by Alberta Investment Management Corp

Key Points

• Alberta Investment Management Corp increased its stake in Yelp Inc. by 64.8%, acquiring 17,100 shares, raising its total to 43,500 shares valued at approximately $1.6 million.
• Analysts have mixed views on Yelp, with one firm upgrading it to a "strong-buy" rating, while others lowered their price targets, indicating an average target of $34.00.
• Recent insider transactions include CFO David A. Schwarzbach selling 10,000 shares, reflecting a 4.77% decrease in ownership, as insiders collectively sold 58,345 shares worth over $2.15 million in the last ninety days.

Alberta Investment Management Corp grew its stake in shares of Yelp Inc. (NYSE:YELP - Free Report) by 64.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,500 shares of the local business review company's stock after purchasing an additional 17,100 shares during the period. Alberta Investment Management Corp owned approximately 0.07% of Yelp worth $1,611,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in shares of Yelp by 307.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,096 shares of the local business review company's stock worth $42,000 after acquiring an additional 827 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Yelp in the 1st quarter worth approximately $52,000. McIlrath & Eck LLC bought a new position in shares of Yelp in the fourth quarter worth approximately $63,000. Fifth Third Bancorp increased its stake in shares of Yelp by 57.7% in the first quarter. Fifth Third Bancorp now owns 1,725 shares of the local business review company's stock worth $64,000 after purchasing an additional 631 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in Yelp by 47.3% in the 1st quarter. Signaturefd LLC now owns 1,936 shares of the local business review company's stock worth $72,000 after buying an additional 622 shares during the period. Hedge funds and other institutional investors own 90.11% of the company's stock.

Insiders Place Their Bets

In other Yelp news, CFO David A. Schwarzbach sold 10,000 shares of Yelp stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $34.68, for a total transaction of $346,800.00. Following the completion of the transaction, the chief financial officer owned 199,654 shares in the company, valued at approximately $6,924,000.72. The trade was a 4.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Craig Saldanha sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $35.23, for a total transaction of $35,230.00. Following the transaction, the insider directly owned 212,720 shares in the company, valued at $7,494,125.60. The trade was a 0.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 58,345 shares of company stock worth $2,151,656. Corporate insiders own 8.00% of the company's stock.

Yelp Price Performance

NYSE YELP traded up $0.09 during trading hours on Thursday, hitting $34.24. 840,198 shares of the company's stock traded hands, compared to its average volume of 787,720. The firm's 50-day moving average is $35.18 and its 200-day moving average is $36.20. Yelp Inc. has a 52-week low of $32.28 and a 52-week high of $41.72. The company has a market capitalization of $2.19 billion, a PE ratio of 16.46, a PEG ratio of 0.79 and a beta of 0.97.

Yelp (NYSE:YELP - Get Free Report) last posted its earnings results on Thursday, May 8th. The local business review company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. Yelp had a return on equity of 19.42% and a net margin of 9.95%. The company had revenue of $358.53 million for the quarter, compared to the consensus estimate of $353.48 million. During the same quarter in the previous year, the business earned $0.20 earnings per share. The company's revenue for the quarter was up 7.7% on a year-over-year basis. Equities research analysts predict that Yelp Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Yelp from $36.00 to $35.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley reduced their price objective on shares of Yelp from $35.00 to $30.00 and set an "underweight" rating on the stock in a research report on Thursday, April 17th. Finally, Wall Street Zen upgraded shares of Yelp from a "buy" rating to a "strong-buy" rating in a report on Friday, July 18th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Yelp presently has a consensus rating of "Hold" and an average target price of $34.00.

About Yelp

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various 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.