Fonville Wealth Management LLC Acquires Shares of 9,936 Yelp Inc. (NYSE:YELP)

Fonville Wealth Management LLC bought a new position in shares of Yelp Inc. (NYSE:YELP - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,936 shares of the local business review company's stock, valued at approximately $368,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State of Wyoming raised its holdings in Yelp by 3.5% during the fourth quarter. State of Wyoming now owns 9,030 shares of the local business review company's stock worth $349,000 after purchasing an additional 307 shares in the last quarter. Summit Investment Advisors Inc. increased its position in Yelp by 5.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,767 shares of the local business review company's stock worth $262,000 after purchasing an additional 341 shares during the period. Martingale Asset Management L P raised its stake in shares of Yelp by 0.8% during the 4th quarter. Martingale Asset Management L P now owns 60,697 shares of the local business review company's stock worth $2,349,000 after buying an additional 457 shares in the last quarter. Hillsdale Investment Management Inc. lifted its holdings in shares of Yelp by 0.5% in the 4th quarter. Hillsdale Investment Management Inc. now owns 124,016 shares of the local business review company's stock valued at $4,799,000 after buying an additional 600 shares during the period. Finally, Fifth Third Bancorp boosted its stake in shares of Yelp by 57.7% in 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 in the last quarter. Hedge funds and other institutional investors own 90.11% of the company's stock.

Yelp Stock Up 1.6%

Yelp stock opened at $35.12 on Friday. The firm has a market capitalization of $2.24 billion, a PE ratio of 16.88, a P/E/G ratio of 0.82 and a beta of 0.98. Yelp Inc. has a 52 week low of $32.29 and a 52 week high of $41.72. The firm's 50-day simple moving average is $36.50 and its 200 day simple moving average is $36.82.

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 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 for the quarter, compared to the consensus estimate of $353.48 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. The company's revenue for the quarter was up 7.7% compared to the same quarter last year. On average, research analysts expect that Yelp Inc. will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insider Activity

In related news, insider Carmen Amara sold 6,886 shares of Yelp stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $38.19, for a total transaction of $262,976.34. Following the completion of the sale, the insider owned 92,253 shares in the company, valued at approximately $3,523,142.07. This trade represents a 6.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David A. Schwarzbach sold 10,000 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $35.68, for a total transaction of $356,800.00. Following the completion of the transaction, the chief financial officer directly owned 209,654 shares of the company's stock, valued at $7,480,454.72. The trade was a 4.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,345 shares of company stock worth $2,147,176 in the last quarter. 8.00% of the stock is currently owned by corporate insiders.

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.

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