Wealth Enhancement Advisory Services LLC Invests $347,000 in Yelp Inc. $YELP

Key Points

• Wealth Enhancement Advisory Services LLC invested $347,000 in Yelp Inc. by acquiring 9,863 shares during the second quarter.
• Insider Carmen Amara sold 1,500 shares of Yelp at an average price of $32.33, resulting in a 1.72% decrease in their ownership.
• Yelp's stock recently dropped by 5.1%, and the company reported earnings per share of $0.67, exceeding analysts' expectations of $0.48.

Wealth Enhancement Advisory Services LLC acquired a new position in shares of Yelp Inc. (NYSE:YELP - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,863 shares of the local business review company's stock, valued at approximately $347,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its position in shares of Yelp by 307.4% during the first quarter. Farther Finance Advisors LLC now owns 1,096 shares of the local business review company's stock worth $42,000 after buying an additional 827 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Yelp during the first quarter worth about $52,000. Strs Ohio acquired a new position in shares of Yelp during the first quarter worth about $56,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Yelp during the first quarter worth about $62,000. Finally, Fifth Third Bancorp boosted its position in shares of 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 during the period. 90.11% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Yelp

In other news, insider Carmen Amara sold 1,500 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $32.33, for a total transaction of $48,495.00. Following the transaction, the insider owned 85,566 shares in the company, valued at approximately $2,766,348.78. This trade represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David A. Schwarzbach sold 10,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $31.24, for a total value of $312,400.00. Following the transaction, the chief financial officer owned 170,196 shares in the company, valued at approximately $5,316,923.04. This trade represents a 5.55% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,400 shares of company stock worth $1,211,130. Company insiders own 7.40% of the company's stock.

Yelp Stock Down 5.1%

YELP opened at $31.15 on Wednesday. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.82 and a beta of 0.98. Yelp Inc. has a 12-month low of $29.96 and a 12-month high of $41.72. The business has a 50 day moving average of $31.86 and a 200-day moving average of $34.46.

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Yelp in a research report on Saturday, September 27th. Bank of America reduced their price target on Yelp from $31.00 to $30.00 and set an "underperform" rating for the company in a research report on Friday, August 8th. Finally, Wall Street Zen cut Yelp from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 9th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus price target of $34.00.

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.

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