Yelp Inc. (NYSE:YELP) Sees Significant Decline in Short Interest

Yelp Inc. (NYSE:YELP - Get Free Report) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 3,530,000 shares, a decrease of 18.1% from the March 15th total of 4,310,000 shares. Currently, 5.6% of the shares of the company are sold short. Based on an average daily volume of 826,400 shares, the days-to-cover ratio is currently 4.3 days.

Yelp Stock Performance

NYSE YELP traded up $0.31 during trading on Friday, reaching $35.44. 447,001 shares of the company traded hands, compared to its average volume of 738,600. Yelp has a 1-year low of $32.29 and a 1-year high of $41.72. The company has a market cap of $2.30 billion, a price-to-earnings ratio of 18.46, a P/E/G ratio of 0.76 and a beta of 1.08. The stock's 50 day moving average price is $35.16 and its two-hundred day moving average price is $36.85.

Yelp (NYSE:YELP - Get Free Report) last posted its earnings results on Thursday, February 13th. The local business review company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.53 by $0.09. Yelp had a return on equity of 18.07% and a net margin of 9.41%. The business had revenue of $361.95 million during the quarter, compared to the consensus estimate of $350.73 million. Equities research analysts expect that Yelp will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price target on shares of Yelp from $36.00 to $35.00 and set a "neutral" rating on the stock in a research report on Tuesday. Morgan Stanley reduced their target price on shares of Yelp from $35.00 to $30.00 and set an "underweight" rating for the company in a research note on Thursday, April 17th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $36.33.

Insiders Place Their Bets

In related news, insider Craig Saldanha sold 1,000 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $35.75, for a total transaction of $35,750.00. Following the completion of the transaction, the insider now owns 211,558 shares of the company's stock, valued at approximately $7,563,198.50. The trade was a 0.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David A. Schwarzbach sold 10,000 shares of Yelp stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $34.31, for a total value of $343,100.00. Following the completion of the transaction, the chief financial officer now directly owns 239,112 shares in the company, valued at approximately $8,203,932.72. This represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,727 shares of company stock valued at $2,025,717 over the last 90 days. 7.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Yelp

A number of hedge funds have recently made changes to their positions in the company. Allworth Financial LP boosted its position in Yelp by 82.5% in the fourth quarter. Allworth Financial LP now owns 637 shares of the local business review company's stock valued at $25,000 after buying an additional 288 shares in the last quarter. Avion Wealth raised its stake in shares of Yelp by 1,963.6% in the fourth quarter. Avion Wealth now owns 908 shares of the local business review company's stock valued at $35,000 after acquiring an additional 864 shares during the last quarter. Fifth Third Bancorp boosted its holdings in shares of Yelp by 76.5% in the 4th quarter. Fifth Third Bancorp now owns 1,094 shares of the local business review company's stock worth $42,000 after acquiring an additional 474 shares in the last quarter. Farther Finance Advisors LLC grew its position in Yelp by 307.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,096 shares of the local business review company's stock worth $42,000 after acquiring an additional 827 shares during the last quarter. Finally, McIlrath & Eck LLC acquired a new stake in Yelp during the 4th quarter valued at $63,000. Institutional investors and hedge funds own 90.11% 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.