Elevate Capital Advisors LLC purchased a new stake in Yelp Inc. (NYSE:YELP - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund 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 largest position. Elevate Capital Advisors LLC owned about 0.11% of Yelp as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in 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 worth $42,000 after acquiring an additional 827 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in Yelp during the fourth quarter worth about $63,000. Fifth Third Bancorp lifted its position in shares of 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 in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Yelp by 445.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the local business review company's stock valued at $80,000 after purchasing an additional 1,683 shares during the period. Finally, Parallel Advisors LLC boosted its stake in shares of Yelp by 78.3% in the first quarter. Parallel Advisors LLC now owns 2,585 shares of the local business review company's stock valued at $96,000 after purchasing an additional 1,135 shares during the period. 90.11% of the stock is owned by hedge funds and other institutional investors.
Yelp Price Performance
Shares of YELP stock traded up $0.17 during trading hours on Friday, reaching $35.21. 452,612 shares of the stock were exchanged, compared to its average volume of 764,807. The business's fifty day moving average is $36.55 and its two-hundred day moving average is $36.92. The firm has a market capitalization of $2.25 billion, a P/E ratio of 16.93, a P/E/G ratio of 0.83 and a beta of 0.98. Yelp Inc. has a 12-month low of $32.29 and a 12-month high of $41.72.
Yelp (NYSE:YELP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The local business review company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.31 by $0.05. Yelp had a net margin of 9.95% and a return on equity of 19.42%. The company had revenue of $358.53 million during the quarter, compared to analysts' expectations of $353.48 million. During the same quarter in the previous year, the business posted $0.20 EPS. The firm's revenue was up 7.7% on a year-over-year basis. As a group, equities research analysts predict that Yelp Inc. will post 2.22 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on YELP shares. Morgan Stanley cut their target price on shares of Yelp from $35.00 to $30.00 and set an "underweight" rating on the stock in a research note on Thursday, April 17th. Wall Street Zen downgraded shares of Yelp from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Yelp from $36.00 to $35.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Two research 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's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $34.00.
Read Our Latest Analysis on YELP
Insider Activity
In other news, CFO David A. Schwarzbach sold 10,000 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $35.68, for a total value of $356,800.00. Following the transaction, the chief financial officer owned 209,654 shares in the company, valued at approximately $7,480,454.72. This represents a 4.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Craig Saldanha sold 1,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $34.34, for a total value of $34,340.00. Following the sale, the insider directly owned 213,720 shares in the company, valued at $7,339,144.80. This trade represents a 0.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 58,345 shares of company stock valued at $2,147,176. Insiders own 8.00% of the company's stock.
Yelp Profile
(
Free Report)
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.
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