Teachers Advisors LLC decreased its position in shares of Yelp Inc. (NYSE:YELP) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 388,445 shares of the local business review company’s stock after selling 34,654 shares during the period. Teachers Advisors LLC owned approximately 0.49% of Yelp worth $12,722,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in YELP. Wellington Management Group LLP acquired a new position in shares of Yelp during the first quarter worth approximately $319,000. TLP Group LLC acquired a new position in shares of Yelp during the first quarter worth approximately $383,000. OppenheimerFunds Inc. increased its position in shares of Yelp by 34.5% in the first quarter. OppenheimerFunds Inc. now owns 445,532 shares of the local business review company’s stock worth $14,591,000 after buying an additional 114,380 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Yelp during the first quarter worth approximately $593,000. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Yelp during the first quarter worth approximately $659,000. 95.37% of the stock is owned by hedge funds and other institutional investors.
Yelp Inc. (YELP) traded up 1.01% during mid-day trading on Wednesday, reaching $41.98. The company’s stock had a trading volume of 1,659,929 shares. Yelp Inc. has a 1-year low of $26.93 and a 1-year high of $43.41. The stock’s 50 day moving average price is $33.74 and its 200 day moving average price is $33.28. The stock has a market capitalization of $3.43 billion, a P/E ratio of 265.70 and a beta of 1.48.
Yelp (NYSE:YELP) last released its quarterly earnings data on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.12. The firm had revenue of $209.90 million for the quarter, compared to analyst estimates of $204.89 million. Yelp had a net margin of 1.67% and a return on equity of 1.60%. Yelp’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.16 earnings per share. Analysts expect that Yelp Inc. will post $0.07 EPS for the current fiscal year.
Yelp declared that its Board of Directors has authorized a share buyback program on Thursday, August 3rd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the local business review company to repurchase up to 7.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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A number of equities analysts recently commented on YELP shares. Maxim Group restated a “buy” rating and set a $41.00 target price (down previously from $45.00) on shares of Yelp in a report on Wednesday, May 10th. Cantor Fitzgerald restated a “buy” rating and set a $46.00 target price on shares of Yelp in a report on Friday, May 5th. Vetr upgraded Yelp from a “hold” rating to a “buy” rating and set a $36.94 target price for the company in a report on Wednesday, May 3rd. Goldman Sachs Group, Inc. (The) upgraded Yelp from a “neutral” rating to a “buy” rating and decreased their target price for the company from $42.00 to $34.00 in a report on Wednesday, May 10th. They noted that the move was a valuation call. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective (down previously from $45.00) on shares of Yelp in a report on Wednesday, May 10th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $37.95.
In other Yelp news, CFO Charles Baker sold 12,176 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total value of $343,728.48. Following the completion of the sale, the chief financial officer now owns 116,862 shares in the company, valued at approximately $3,299,014.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Geoffrey L. Donaker sold 4,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $28.23, for a total transaction of $112,920.00. Following the transaction, the director now owns 9,590 shares in the company, valued at approximately $270,725.70. The disclosure for this sale can be found here. Insiders sold 135,251 shares of company stock worth $4,946,005 in the last 90 days. 10.10% of the stock is owned by company insiders.
About Yelp
Yelp Inc (Yelp) connects people with local businesses by bringing ‘word of mouth’ online and providing a platform for businesses and consumers to engage and transact. The Company offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.
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