American Century Companies Inc. decreased its stake in shares of Yelp Inc (NYSE:YELP) by 59.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,334 shares of the local business review company’s stock after selling 25,693 shares during the quarter. American Century Companies Inc.’s holdings in Yelp were worth $724,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Trexquant Investment LP lifted its holdings in Yelp by 16.5% during the 1st quarter. Trexquant Investment LP now owns 38,245 shares of the local business review company’s stock valued at $1,597,000 after buying an additional 5,422 shares in the last quarter. Summit Global Investments bought a new stake in shares of Yelp in the 1st quarter valued at about $534,000. Mackay Shields LLC bought a new stake in shares of Yelp in the 1st quarter valued at about $359,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Yelp by 233.2% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 78,125 shares of the local business review company’s stock valued at $3,262,000 after purchasing an additional 54,678 shares in the last quarter. Finally, Global X Management Co. LLC raised its holdings in shares of Yelp by 19.2% in the 1st quarter. Global X Management Co. LLC now owns 121,194 shares of the local business review company’s stock valued at $5,060,000 after purchasing an additional 19,552 shares in the last quarter. Institutional investors own 87.67% of the company’s stock.
Several equities research analysts have recently commented on the stock. Wedbush restated a “neutral” rating on shares of Yelp in a report on Wednesday, May 16th. Credit Suisse Group boosted their price target on shares of Yelp from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, May 11th. Aegis lowered shares of Yelp from a “buy” rating to a “hold” rating and reduced their price target for the company from $46.00 to $45.00 in a report on Friday, May 11th. Zacks Investment Research upgraded shares of Yelp from a “sell” rating to a “hold” rating in a report on Friday, March 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Yelp from $51.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, May 11th. Four research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. Yelp currently has a consensus rating of “Hold” and a consensus target price of $45.60.
Yelp (NYSE:YELP) last released its earnings results on Thursday, May 10th. The local business review company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.05). The company had revenue of $223.07 million for the quarter, compared to analysts’ expectations of $220.17 million. Yelp had a return on equity of 0.47% and a net margin of 17.80%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.19 EPS. research analysts anticipate that Yelp Inc will post 0.13 earnings per share for the current fiscal year.
In other news, COO Joseph R. Nachman sold 14,500 shares of the company’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $45.33, for a total value of $657,285.00. Following the sale, the chief operating officer now directly owns 142,355 shares of the company’s stock, valued at approximately $6,452,952.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction on Tuesday, March 20th. The shares were sold at an average price of $45.33, for a total transaction of $271,980.00. Following the completion of the sale, the director now directly owns 10,055 shares in the company, valued at $455,793.15. The disclosure for this sale can be found here. Insiders sold a total of 137,500 shares of company stock worth $6,035,085 over the last ninety days. Insiders own 9.00% of the company’s stock.
Yelp Inc operates a platform that connects people with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.
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