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Readystate Asset Management LP Makes New $3.29 Million Investment in Yelp Inc. (NYSE:YELP)

Yelp logo with Computer and Technology background

Readystate Asset Management LP bought a new position in Yelp Inc. (NYSE:YELP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 88,700 shares of the local business review company's stock, valued at approximately $3,285,000. Readystate Asset Management LP owned approximately 0.14% of Yelp as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State of Wyoming increased its position 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 acquiring an additional 307 shares during the period. Summit Investment Advisors Inc. increased its position in 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 worth $262,000 after acquiring an additional 341 shares during the period. Martingale Asset Management L P boosted its stake in Yelp by 0.8% during 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 buying an additional 457 shares in the last quarter. Signaturefd LLC boosted its stake in Yelp by 47.3% during the first quarter. Signaturefd LLC now owns 1,936 shares of the local business review company's stock worth $72,000 after buying an additional 622 shares in the last quarter. Finally, Fifth Third Bancorp boosted its stake 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 worth $64,000 after buying an additional 631 shares in the last quarter. 90.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Yelp

In other Yelp news, CTO Sam Eaton sold 12,904 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $38.18, for a total value of $492,674.72. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dan Jedda sold 2,794 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $35.68, for a total transaction of $99,689.92. Following the transaction, the director owned 18,564 shares of the company's stock, valued at approximately $662,363.52. This represents a 13.08% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,345 shares of company stock valued at $2,151,656. Corporate insiders own 8.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on YELP shares. Wall Street Zen upgraded shares of Yelp from a "buy" rating to a "strong-buy" rating in a research report on Friday, July 18th. Morgan Stanley cut their price objective on Yelp from $35.00 to $30.00 and set an "underweight" rating for the company in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. cut their price objective on Yelp from $36.00 to $35.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Yelp has a consensus rating of "Hold" and a consensus price target of $34.00.

Check Out Our Latest Stock Report on YELP

Yelp Stock Performance

Shares of NYSE YELP traded down $0.30 during trading on Friday, reaching $34.78. The company had a trading volume of 256,907 shares, compared to its average volume of 790,837. Yelp Inc. has a 52 week low of $32.28 and a 52 week high of $41.72. The stock has a market cap of $2.22 billion, a PE ratio of 16.72, a PEG ratio of 0.83 and a beta of 0.98. The business's 50 day moving average price is $35.90 and its 200-day moving average price is $36.52.

Yelp (NYSE:YELP - Get Free Report) last posted 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. The business had revenue of $358.53 million for the quarter, compared to analysts' expectations of $353.48 million. Yelp had a return on equity of 19.42% and a net margin of 9.95%. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.20 earnings per share. Equities analysts anticipate that Yelp Inc. will post 2.22 earnings per share for the current year.

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.

See Also

Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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