Mackenzie Financial Corp Purchases 35,642 Shares of Yelp Inc. (NYSE:YELP)

Mackenzie Financial Corp boosted its holdings in Yelp Inc. (NYSE:YELP - Free Report) by 57.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 97,963 shares of the local business review company's stock after purchasing an additional 35,642 shares during the period. Mackenzie Financial Corp owned about 0.15% of Yelp worth $3,791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of YELP. Ameriprise Financial Inc. boosted its position in Yelp by 375.2% in the fourth quarter. Ameriprise Financial Inc. now owns 1,331,835 shares of the local business review company's stock worth $51,542,000 after purchasing an additional 1,051,588 shares during the last quarter. LSV Asset Management boosted its position in Yelp by 163.4% in the fourth quarter. LSV Asset Management now owns 853,867 shares of the local business review company's stock worth $33,045,000 after purchasing an additional 529,667 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Yelp by 16.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,845,575 shares of the local business review company's stock worth $71,424,000 after purchasing an additional 255,775 shares during the last quarter. JPMorgan Chase & Co. boosted its position in Yelp by 70.7% in the fourth quarter. JPMorgan Chase & Co. now owns 601,632 shares of the local business review company's stock worth $23,283,000 after purchasing an additional 249,231 shares during the last quarter. Finally, Norges Bank purchased a new position in Yelp in the fourth quarter worth $7,455,000. Hedge funds and other institutional investors own 90.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on YELP shares. JPMorgan Chase & Co. cut their price objective on Yelp from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley dropped their price target on Yelp from $35.00 to $30.00 and set an "underweight" rating on the stock in a research report on Thursday, April 17th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $34.00.

Yelp Price Performance

Shares of NYSE YELP traded down $0.49 during trading on Friday, reaching $38.18. 912,820 shares of the stock traded hands, compared to its average volume of 739,572. Yelp Inc. has a 52-week low of $32.29 and a 52-week high of $41.72. The company has a 50-day moving average of $36.33 and a 200-day moving average of $37.35. The stock has a market capitalization of $2.44 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 0.76 and a beta of 0.99.

Yelp (NYSE:YELP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The local business review company reported $0.36 EPS for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. The firm had revenue of $358.53 million for the quarter, compared to analysts' expectations of $353.48 million. Yelp had a return on equity of 18.07% and a net margin of 9.41%. The business's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 EPS. Analysts expect that Yelp Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Craig Saldanha sold 1,000 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $36.34, for a total transaction of $36,340.00. Following the sale, the insider now owns 223,512 shares of the company's stock, valued at approximately $8,122,426.08. This represents a 0.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carmen Amara sold 6,886 shares of the company's 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 completion of the transaction, the insider now owns 92,253 shares in the company, valued at $3,523,142.07. This represents a 6.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 57,828 shares of company stock valued at $2,118,690. Corporate insiders own 8.00% of the company's stock.

About Yelp

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.