CX Institutional Takes Position in Yelp Inc. (NYSE:YELP)

CX Institutional bought a new position in Yelp Inc. (NYSE:YELP) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 72,614 shares of the local business review company’s stock, valued at approximately $2,689,000. CX Institutional owned approximately 0.11% of Yelp as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allworth Financial LP grew its holdings in Yelp by 82.5% during the 4th 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 holdings in shares of Yelp by 1,963.6% during the 4th quarter. Avion Wealth now owns 908 shares of the local business review company’s stock worth $35,000 after acquiring an additional 864 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of 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 valued at $42,000 after acquiring an additional 827 shares during the last quarter. McIlrath & Eck LLC purchased a new position in shares of Yelp in the fourth quarter valued at $63,000. Finally, Asset Management One Co. Ltd. increased its position in Yelp by 16.9% in the fourth quarter. Asset Management One Co. Ltd. now owns 1,815 shares of the local business review company’s stock worth $70,000 after purchasing an additional 263 shares during the last quarter. Institutional investors own 90.11% of the company’s stock.

Yelp Trading Down 1.8%

Shares of NYSE:YELP opened at $36.52 on Thursday. Yelp Inc. has a 12 month low of $32.29 and a 12 month high of $41.72. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 19.02, a PEG ratio of 0.76 and a beta of 1.02. The firm’s 50-day moving average is $36.27 and its 200 day moving average is $37.40.

Yelp (NYSE:YELP) last announced its earnings results on Thursday, May 8th. The local business review company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.05. Yelp had a return on equity of 18.07% and a net margin of 9.41%. The business had revenue of $358.53 million during the quarter, compared to analyst estimates of $353.48 million. During the same quarter in the previous year, the business earned $0.20 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, equities analysts forecast that Yelp Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on YELP shares. JPMorgan Chase & Co. lowered their price objective on shares of Yelp from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley lowered their price target on shares of Yelp from $35.00 to $30.00 and set an “underweight” rating for the company in a report on Thursday, April 17th. Finally, Wall Street Zen upgraded Yelp from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $34.00.

Insider Buying and Selling

In other news, CFO David A. Schwarzbach sold 10,000 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $34.31, for a total value of $343,100.00. Following the completion of the sale, the chief financial officer now owns 239,112 shares in the company, valued at approximately $8,203,932.72. The trade was a 4.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Craig Saldanha sold 1,000 shares of the business’s stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $36.34, for a total transaction of $36,340.00. Following the completion of the transaction, the insider now owns 223,512 shares of the company’s stock, valued at $8,122,426.08. This represents a 0.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,551 shares of company stock valued at $1,692,686 over the last quarter. 7.40% of the stock is owned by corporate insiders.

Yelp Company Profile

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.