Elevate Capital Advisors LLC Invests $2.77 Million in Yelp Inc. (NYSE:YELP)

Elevate Capital Advisors LLC purchased a new position in Yelp Inc. (NYSE:YELP - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 74,707 shares of the local business review company's stock, valued at approximately $2,766,000. Yelp accounts for about 2.6% of Elevate Capital Advisors LLC's portfolio, making the stock its 9th biggest position. Elevate Capital Advisors LLC owned about 0.11% of Yelp as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the stock. State of Wyoming grew its holdings in shares of Yelp by 3.5% during the 4th quarter. State of Wyoming now owns 9,030 shares of the local business review company's stock worth $349,000 after acquiring an additional 307 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Yelp by 5.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 6,767 shares of the local business review company's stock valued at $262,000 after purchasing an additional 341 shares in the last quarter. Martingale Asset Management L P grew its stake in Yelp by 0.8% in the fourth quarter. Martingale Asset Management L P now owns 60,697 shares of the local business review company's stock worth $2,349,000 after purchasing an additional 457 shares during the period. Hillsdale Investment Management Inc. raised its holdings in Yelp by 0.5% in the fourth quarter. Hillsdale Investment Management Inc. now owns 124,016 shares of the local business review company's stock worth $4,799,000 after purchasing an additional 600 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position 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 valued at $64,000 after buying an additional 631 shares during the period. Institutional investors own 90.11% of the company's stock.

Yelp Price Performance

Shares of Yelp stock traded up $0.89 during trading on Tuesday, hitting $35.16. 1,200,107 shares of the company's stock traded hands, compared to its average volume of 761,912. Yelp Inc. has a 1 year low of $32.29 and a 1 year high of $41.72. The business has a 50-day simple moving average of $36.51 and a 200-day simple moving average of $37.01. The stock has a market capitalization of $2.24 billion, a P/E ratio of 16.90, a PEG ratio of 0.81 and a beta of 1.02.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Yelp from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 21st. JPMorgan Chase & Co. cut their price objective on shares of Yelp from $36.00 to $35.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, Morgan Stanley lowered their target price on shares of Yelp from $35.00 to $30.00 and set an "underweight" rating for the company in a report on Thursday, April 17th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, Yelp has an average rating of "Hold" and an average target price of $34.00.

Insiders Place Their Bets

In other Yelp news, insider Carmen Amara sold 6,886 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $38.19, for a total value of $262,976.34. Following the transaction, the insider owned 92,253 shares of the company's stock, valued at approximately $3,523,142.07. This represents a 6.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Sam Eaton sold 12,904 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $38.18, for a total value of $492,674.72. Following the sale, the chief technology officer owned 145,064 shares of the company's stock, valued at approximately $5,538,543.52. This represents a 8.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 58,345 shares of company stock worth $2,147,176 in the last 90 days. Insiders own 7.40% of the company's stock.

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.