CX Institutional Purchases New Shares in Yelp Inc. $YELP

Key Points

• CX Institutional acquired 217,734 Yelp shares worth approximately $4.03 million in the third quarter, giving it a 0.40% stake. Institutional investors and hedge funds collectively own 90.11% of Yelp.
• Yelp reported quarterly EPS of $0.57, exceeding estimates of $0.36, while revenue rose 1.4% year over year to $375.52 million. Analysts expect full-year EPS of $1.83.
• Yelp shares opened at $18.28, near the company’s $17.26 one-year low; analysts maintain a consensus “Reduce” rating with a $26.57 target price. Recent insider sales were conducted under 10b5-1 plans to cover tax obligations on vested equity awards.

CX Institutional bought a new stake in shares of Yelp Inc. (NYSE:YELP - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 217,734 shares of the local business review company's stock, valued at approximately $4,028,000. CX Institutional owned approximately 0.40% of Yelp at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in shares of Yelp by 20.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,683,927 shares of the local business review company's stock worth $66,402,000 after acquiring an additional 457,261 shares in the last quarter. River Road Asset Management LLC grew its position in Yelp by 1.4% in the 4th quarter. River Road Asset Management LLC now owns 1,161,711 shares of the local business review company's stock worth $35,304,000 after purchasing an additional 15,849 shares in the last quarter. OP Asset Management Ltd purchased a new stake in Yelp in the 1st quarter valued at about $14,796,000. Bank of America Corp DE increased its stake in Yelp by 73.8% in the 1st quarter. Bank of America Corp DE now owns 562,739 shares of the local business review company's stock valued at $13,922,000 after buying an additional 238,993 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Yelp by 39.3% during the 1st quarter. Principal Financial Group Inc. now owns 522,004 shares of the local business review company's stock worth $12,914,000 after buying an additional 147,329 shares in the last quarter. 90.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Yelp news, CFO David A. Schwarzbach sold 8,809 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $23.19, for a total transaction of $204,280.71. Following the transaction, the chief financial officer directly owned 180,466 shares of the company's stock, valued at approximately $4,185,006.54. The trade was a 4.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Alexander Coleman Levy sold 3,829 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $23.40, for a total transaction of $89,598.60. Following the completion of the transaction, the chief technology officer owned 54,124 shares of the company's stock, valued at $1,266,501.60. This trade represents a 6.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 13,138 shares of company stock valued at $304,949. 8.30% of the stock is owned by corporate insiders.

Yelp Trading Up 0.9%

NYSE YELP opened at $18.28 on Friday. The firm has a market cap of $991.76 million, a PE ratio of 8.75, a price-to-earnings-growth ratio of 1.65 and a beta of 0.45. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 0.16. The stock has a 50-day moving average of $22.43 and a 200-day moving average of $24.06. Yelp Inc. has a 1-year low of $17.26 and a 1-year high of $34.49.

Yelp (NYSE:YELP - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The local business review company reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.21. Yelp had a net margin of 8.59% and a return on equity of 19.52%. The firm had revenue of $375.52 million for the quarter, compared to analysts' expectations of $366.89 million. During the same quarter in the previous year, the company earned $0.67 earnings per share. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Yelp Inc. will post 1.83 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. began coverage on Yelp in a research report on Friday, September 11th. They set an "underweight" rating and a $19.00 target price for the company. Weiss Ratings reissued a "sell (d+)" rating on shares of Yelp in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and three 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 target price of $26.57.

About Yelp

Yelp Inc operates an online platform that connects consumers with local businesses. Its website and mobile application allow users to search for businesses, read and contribute reviews, view photos and other business information, and discover providers across categories such as restaurants, home services, beauty, automotive, and health care.

The company generates revenue primarily by offering businesses advertising and other marketing solutions designed to help them reach customers on Yelp.

Want to see what other hedge funds are holding YELP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Yelp Inc. (NYSE:YELP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.