Tenzing Global Management LLC Purchases Shares of 175,000 Yelp Inc. $YELP

Key Points

• Tenzing Global Management LLC acquired 175,000 shares of Yelp Inc. valued at approximately $6.48 million, making it the firm's 10th largest position at about 4.7% of their portfolio.
• Yelp reported $0.67 earnings per share (EPS) for its latest quarter, exceeding the consensus estimate of $0.48, with revenue reaching $370.39 million, up 3.7% year-over-year.
• Despite recent institutional interest, analysts have a consensus rating of "Reduce" for Yelp, with a target price of $34.00, signaling caution regarding the stock's future performance.

Tenzing Global Management LLC acquired a new stake in Yelp Inc. (NYSE:YELP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 175,000 shares of the local business review company's stock, valued at approximately $6,480,000. Yelp comprises about 4.7% of Tenzing Global Management LLC's portfolio, making the stock its 10th largest position. Tenzing Global Management LLC owned about 0.27% of Yelp at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. State of Wyoming boosted 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 buying an additional 307 shares in the last quarter. Hancock Whitney Corp boosted its holdings in Yelp by 7.4% during the first quarter. Hancock Whitney Corp now owns 6,986 shares of the local business review company's stock worth $259,000 after buying an additional 480 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Yelp by 0.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 76,376 shares of the local business review company's stock worth $2,828,000 after buying an additional 506 shares in the last quarter. Signaturefd LLC boosted its holdings 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 holdings 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 owned by hedge funds and other institutional investors.

Yelp Stock Down 1.9%

Shares of Yelp stock traded down $0.61 on Friday, hitting $31.13. 270,862 shares of the company were exchanged, compared to its average volume of 815,118. The company has a 50-day moving average price of $33.00 and a 200 day moving average price of $34.84. The stock has a market capitalization of $1.96 billion, a price-to-earnings ratio of 14.08, a price-to-earnings-growth ratio of 0.78 and a beta of 1.03. Yelp Inc. has a 1-year low of $29.96 and a 1-year high of $41.72.

Yelp (NYSE:YELP - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The local business review company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.19. The firm had revenue of $370.39 million for the quarter, compared to the consensus estimate of $365.71 million. Yelp had a return on equity of 20.17% and a net margin of 10.28%.The firm's revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 earnings per share. Yelp has set its FY 2025 guidance at EPS. Research analysts forecast that Yelp Inc. will post 2.22 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on YELP. Bank of America cut their price objective on Yelp from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Friday, August 8th. Wall Street Zen downgraded Yelp from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 9th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Yelp has a consensus rating of "Reduce" and a consensus target price of $34.00.

Insider Activity

In other news, Director Dan Jedda sold 2,794 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $35.68, for a total value of $99,689.92. Following the completion of the sale, the director owned 18,564 shares of the company's stock, valued at $662,363.52. This represents a 13.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Craig Saldanha sold 1,200 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $31.17, for a total transaction of $37,404.00. Following the sale, the insider owned 203,700 shares of the company's stock, valued at $6,349,329. This represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,494 shares of company stock valued at $1,305,389. Company insiders own 8.00% of the company's stock.

Yelp 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.