Connor Clark & Lunn Investment Management Ltd. Buys Shares of 17,730 Yelp Inc. $YELP

Key Points

• Connor Clark & Lunn Investment Management Ltd. has acquired 17,730 shares of Yelp Inc., valued at approximately $657,000, marking a new investment position in the company.
• Yelp's stock price has seen fluctuations, currently sitting at $30.98, with a 52-week low of $29.96 and a high of $41.72; the stock has a market cap of $1.95 billion.
• Yelp reported a quarterly earnings per share of $0.67, beating analysts' expectations, with revenues increasing by 3.7% year-over-year.

Connor Clark & Lunn Investment Management Ltd. bought a new position in Yelp Inc. (NYSE:YELP - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,730 shares of the local business review company's stock, valued at approximately $657,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its holdings in Yelp by 9.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,924,457 shares of the local business review company's stock worth $74,477,000 after purchasing an additional 164,149 shares in the last quarter. LSV Asset Management grew its stake in Yelp by 122.8% in the first quarter. LSV Asset Management now owns 1,902,318 shares of the local business review company's stock valued at $70,443,000 after acquiring an additional 1,048,451 shares during the period. Ameriprise Financial Inc. grew its stake in Yelp by 375.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,331,835 shares of the local business review company's stock valued at $51,542,000 after acquiring an additional 1,051,588 shares during the period. Northern Trust Corp grew its stake in Yelp by 8.3% in the fourth quarter. Northern Trust Corp now owns 752,742 shares of the local business review company's stock valued at $29,131,000 after acquiring an additional 57,610 shares during the period. Finally, Nuveen Asset Management LLC grew its stake in Yelp by 1.5% in the fourth quarter. Nuveen Asset Management LLC now owns 650,433 shares of the local business review company's stock valued at $25,172,000 after acquiring an additional 9,810 shares during the period. 90.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on YELP. Wall Street Zen cut Yelp from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. reduced their price objective on Yelp from $36.00 to $35.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Bank of America reduced their price objective on Yelp from $31.00 to $30.00 and set an "underperform" rating for the company in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and a consensus price target of $34.00.

Yelp Trading Down 0.0%

Shares of NYSE:YELP traded down $0.0010 during mid-day trading on Wednesday, hitting $30.9990. 909,882 shares of the company traded hands, compared to its average volume of 926,408. The stock has a 50-day moving average price of $33.99 and a two-hundred day moving average price of $35.60. The stock has a market cap of $1.95 billion, a P/E ratio of 14.03, a P/E/G ratio of 0.78 and a beta of 0.97. Yelp Inc. has a 12-month low of $29.96 and a 12-month high of $41.72.

Yelp (NYSE:YELP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The local business review company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.19. The business had revenue of $370.39 million for the quarter, compared to analyst estimates of $365.71 million. Yelp had a return on equity of 20.17% and a net margin of 10.28%.Yelp's quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. Yelp has set its FY 2025 guidance at EPS. As a group, analysts expect that Yelp Inc. will post 2.22 earnings per share for the current year.

Insider Activity

In other news, insider Carmen Amara sold 6,886 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $38.19, for a total transaction of $262,976.34. Following the completion of the transaction, the insider directly owned 92,253 shares of the company's stock, valued at $3,523,142.07. This represents a 6.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Sam Eaton sold 12,904 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $38.18, for a total value of $492,674.72. Following the completion of the sale, the chief technology officer owned 145,064 shares in the company, valued at approximately $5,538,543.52. The trade was a 8.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,345 shares of company stock worth $2,151,656. 8.00% of the stock is owned by insiders.

Yelp Company Profile

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.