State Treasurer State of Michigan purchased a new stake in shares of Yelp Inc (NYSE:YELP) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 27,200 shares of the local business review company’s stock, valued at approximately $952,000.
Several other hedge funds have also made changes to their positions in YELP. Glenmede Trust Co. NA lifted its stake in Yelp by 9,220.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 937,637 shares of the local business review company’s stock worth $46,131,000 after purchasing an additional 927,577 shares in the last quarter. BlackRock Inc. lifted its stake in Yelp by 8.5% in the 3rd quarter. BlackRock Inc. now owns 7,760,435 shares of the local business review company’s stock worth $381,814,000 after purchasing an additional 606,426 shares in the last quarter. FMR LLC purchased a new stake in Yelp in the 3rd quarter worth approximately $20,179,000. Allianz Asset Management GmbH lifted its stake in Yelp by 9.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 3,345,227 shares of the local business review company’s stock worth $164,585,000 after purchasing an additional 288,790 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Yelp by 42.2% in the 3rd quarter. Clearbridge Investments LLC now owns 923,300 shares of the local business review company’s stock worth $45,426,000 after purchasing an additional 273,918 shares in the last quarter. Institutional investors own 91.53% of the company’s stock.
Yelp stock opened at $39.94 on Tuesday. The firm has a market cap of $3.32 billion, a PE ratio of 88.76, a P/E/G ratio of 3.07 and a beta of 1.05. Yelp Inc has a fifty-two week low of $29.33 and a fifty-two week high of $52.50.
In related news, Director Geoffrey L. Donaker sold 2,000 shares of the stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $38.10, for a total transaction of $76,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last ninety days, insiders have sold 24,256 shares of company stock worth $853,541. 9.00% of the stock is owned by insiders.
Several research firms have issued reports on YELP. Needham & Company LLC began coverage on shares of Yelp in a research note on Tuesday, January 8th. They issued a “hold” rating on the stock. Royal Bank of Canada lowered their target price on shares of Yelp to $38.00 and set a “positive” rating on the stock in a research note on Friday, November 9th. KeyCorp began coverage on shares of Yelp in a research note on Thursday, December 20th. They issued a “sector weight” rating and a $33.86 target price on the stock. SunTrust Banks reiterated a “hold” rating on shares of Yelp in a research note on Monday, December 10th. Finally, Zacks Investment Research cut shares of Yelp from a “buy” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $39.52.
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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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