CX Institutional Boosts Stake in Yelp Inc. $YELP

Key Points

• CX Institutional increased its stake in Yelp Inc. by 90.5%, now owning approximately 0.22% of the company valued at $4.74 million.
• Yelp's recent earnings report revealed an EPS of $0.67, exceeding analyst expectations and signaling a 3.7% increase in revenue year-over-year.
• Bank of America downgraded Yelp's rating from "underperform" to a target price of $30, while the consensus rating remains at "Reduce" with an average target of $34.

CX Institutional grew its stake in Yelp Inc. (NYSE:YELP - Free Report) by 90.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 138,318 shares of the local business review company's stock after purchasing an additional 65,704 shares during the quarter. CX Institutional owned approximately 0.22% of Yelp worth $4,740,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Hancock Whitney Corp lifted its holdings in Yelp by 7.4% during the first quarter. Hancock Whitney Corp now owns 6,986 shares of the local business review company's stock worth $259,000 after acquiring an additional 480 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Yelp by 0.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,376 shares of the local business review company's stock worth $2,828,000 after buying an additional 506 shares in the last quarter. Signaturefd LLC grew its position in Yelp by 47.3% during the first 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 in the last quarter. Fifth Third Bancorp lifted its stake in Yelp by 57.7% during 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 during the last quarter. Finally, Pinnacle Holdings LLC lifted its stake in Yelp by 2.1% during the first quarter. Pinnacle Holdings LLC now owns 34,649 shares of the local business review company's stock worth $1,283,000 after purchasing an additional 698 shares during the last quarter. 90.11% of the stock is currently owned by institutional investors.

Yelp Stock Down 0.3%

NYSE YELP traded down $0.10 during trading hours on Tuesday, hitting $31.64. 257,211 shares of the company were exchanged, compared to its average volume of 821,135. The stock has a 50-day moving average price of $32.57 and a 200 day moving average price of $34.73. Yelp Inc. has a 52 week low of $29.96 and a 52 week high of $41.72. The stock has a market cap of $2.00 billion, a PE ratio of 14.30, a price-to-earnings-growth ratio of 0.79 and a beta of 1.03.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on YELP shares. Bank of America lowered their target price on Yelp from $31.00 to $30.00 and set an "underperform" rating for the company in a research note on Friday, August 8th. Wall Street Zen lowered Yelp from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Four 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 stock presently has an average rating of "Reduce" and an average price target of $34.00.

Insider Activity at Yelp

In related news, insider Craig Saldanha sold 1,200 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $31.17, for a total value of $37,404.00. Following the completion of the sale, the insider owned 203,700 shares in the company, valued at approximately $6,349,329. The trade was a 0.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Carmen Amara sold 1,500 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $32.33, for a total value of $48,495.00. Following the completion of the sale, the insider owned 85,566 shares of the company's stock, valued at $2,766,348.78. The trade was a 1.72% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,700 shares of company stock worth $1,126,959. Company insiders own 7.40% of the company's stock.

Yelp 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.