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 position in Yelp Inc. (NYSE:YELP - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 175,000 shares of the local business review company's stock, valued at approximately $6,480,000. Yelp makes up approximately 4.7% of Tenzing Global Management LLC's holdings, making the stock its 10th biggest holding. Tenzing Global Management LLC owned about 0.27% of Yelp at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in shares of Yelp by 375.2% during the fourth quarter. Ameriprise Financial Inc. now owns 1,331,835 shares of the local business review company's stock valued at $51,542,000 after purchasing an additional 1,051,588 shares in the last quarter. LSV Asset Management raised its position in shares of Yelp by 122.8% during the 1st quarter. LSV Asset Management now owns 1,902,318 shares of the local business review company's stock worth $70,443,000 after buying an additional 1,048,451 shares in the last quarter. Nuveen LLC bought a new stake in shares of Yelp during the 1st quarter worth about $13,811,000. Jupiter Asset Management Ltd. lifted its stake in shares of Yelp by 1,620.5% in the 1st quarter. Jupiter Asset Management Ltd. now owns 204,587 shares of the local business review company's stock worth $7,576,000 after acquiring an additional 192,696 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of Yelp by 157.8% in the first quarter. Royal Bank of Canada now owns 252,564 shares of the local business review company's stock valued at $9,352,000 after acquiring an additional 154,612 shares in the last quarter. Institutional investors own 90.11% of the company's stock.

Yelp Stock Down 1.5%

Shares of YELP stock traded down $0.46 during trading hours on Wednesday, reaching $31.24. 905,181 shares of the stock traded hands, compared to its average volume of 817,044. The firm has a market capitalization of $1.97 billion, a PE ratio of 14.13, a PEG ratio of 0.79 and a beta of 1.03. Yelp Inc. has a 1-year low of $29.96 and a 1-year high of $41.72. The business has a fifty day moving average price of $33.14 and a 200 day moving average price of $34.89.

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

Insiders Place Their Bets

In related news, CFO David A. Schwarzbach sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $31.43, for a total value of $314,300.00. Following the completion of the sale, the chief financial officer owned 180,196 shares of the company's stock, valued at approximately $5,663,560.28. The trade was a 5.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Craig Saldanha sold 1,200 shares of the stock in a transaction 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 transaction, the insider owned 203,700 shares in the company, valued at approximately $6,349,329. This trade represents a 0.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 38,494 shares of company stock valued at $1,305,389 over the last ninety days. Corporate insiders own 7.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen cut Yelp from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 9th. Bank of America dropped their price objective on Yelp from $31.00 to $30.00 and set an "underperform" rating on the stock in a research note on Friday, August 8th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Yelp presently has an average rating of "Reduce" and an average target price of $34.00.

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.