Connor Clark & Lunn Investment Management Ltd. Acquires New Position in 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 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 17,730 shares of the local business review company's stock, valued at approximately $657,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC grew 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 valued at $42,000 after buying an additional 827 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Yelp during the 1st quarter valued at $52,000. McIlrath & Eck LLC purchased a new stake in shares of Yelp during the 4th quarter valued at $63,000. Fifth Third Bancorp grew its stake in shares of Yelp by 57.7% during the 1st quarter. Fifth Third Bancorp now owns 1,725 shares of the local business review company's stock valued at $64,000 after buying an additional 631 shares during the period. Finally, Signaturefd LLC lifted its holdings in shares of Yelp by 47.3% during the 1st quarter. Signaturefd LLC now owns 1,936 shares of the local business review company's stock valued at $72,000 after acquiring an additional 622 shares in the last quarter. 90.11% of the stock is owned by hedge funds and other institutional investors.

Yelp Trading Up 4.0%

YELP stock traded up $1.2370 during trading on Friday, reaching $32.4570. The stock had a trading volume of 1,160,451 shares, compared to its average volume of 988,073. Yelp Inc. has a 1-year low of $29.96 and a 1-year high of $41.72. The company has a market capitalization of $2.05 billion, a P/E ratio of 14.69, a PEG ratio of 0.82 and a beta of 0.97. The firm has a fifty day moving average price of $33.84 and a 200 day moving average price of $35.46.

Yelp (NYSE:YELP - Get Free Report) last issued its quarterly earnings data 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. Yelp had a net margin of 10.28% and a return on equity of 20.17%. The firm had revenue of $370.39 million for the quarter, compared to analyst estimates of $365.71 million. During the same quarter in the previous year, the business posted $0.54 EPS. The firm's revenue was up 3.7% compared to the same quarter last year. Yelp has set its FY 2025 guidance at EPS. Sell-side analysts predict that Yelp Inc. will post 2.22 EPS for the current year.

Insider Activity

In other Yelp news, CFO David A. Schwarzbach sold 10,000 shares of the business's stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $34.68, for a total value of $346,800.00. Following the transaction, the chief financial officer owned 199,654 shares in the company, valued at $6,924,000.72. The trade was a 4.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Craig Saldanha sold 1,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $35.23, for a total transaction of $35,230.00. Following the completion of the sale, the insider owned 212,720 shares in the company, valued at approximately $7,494,125.60. This trade represents a 0.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,141 shares of company stock worth $1,534,902. 8.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on YELP shares. Wall Street Zen lowered shares of Yelp from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Bank of America reduced their target price on shares of Yelp from $31.00 to $30.00 and set an "underperform" rating on the stock in a report on Friday, August 8th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and a consensus price target 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.