Summit Global Investments Acquires Shares of 37,980 Yelp Inc. $YELP

Summit Global Investments bought a new stake in Yelp Inc. (NYSE:YELP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 37,980 shares of the local business review company’s stock, valued at approximately $1,185,000. Summit Global Investments owned about 0.06% of Yelp at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of YELP. Bfsg LLC raised its position in Yelp by 110.3% during the 3rd quarter. Bfsg LLC now owns 839 shares of the local business review company’s stock worth $26,000 after buying an additional 440 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Yelp during the second quarter worth about $28,000. MAI Capital Management lifted its position in Yelp by 1,102.0% in the second quarter. MAI Capital Management now owns 1,202 shares of the local business review company’s stock valued at $41,000 after purchasing an additional 1,102 shares during the period. Strs Ohio purchased a new stake in Yelp in the 1st quarter valued at approximately $56,000. Finally, Advisors Asset Management Inc. increased its position in Yelp by 14.5% during the 2nd quarter. Advisors Asset Management Inc. now owns 3,056 shares of the local business review company’s stock worth $105,000 after purchasing an additional 386 shares during the period. 90.11% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on YELP shares. Morgan Stanley reduced their price target on shares of Yelp from $30.00 to $28.00 and set an “underweight” rating for the company in a research report on Tuesday, January 13th. The Goldman Sachs Group set a $33.00 target price on shares of Yelp in a research report on Tuesday, October 14th. Evercore ISI dropped their price target on shares of Yelp from $45.00 to $38.00 and set an “outperform” rating on the stock in a research note on Monday, November 10th. JPMorgan Chase & Co. dropped their price target on Yelp from $33.00 to $30.00 and set a “neutral” rating on the stock in a research report on Monday, November 10th. Finally, Jefferies Financial Group increased their target price on Yelp from $31.00 to $32.00 and gave the stock a “hold” rating in a research report on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.29.

Yelp Stock Down 0.6%

Shares of YELP stock opened at $27.34 on Friday. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 12.10, a price-to-earnings-growth ratio of 0.51 and a beta of 0.55. Yelp Inc. has a 12-month low of $26.96 and a 12-month high of $41.22. The firm has a fifty day moving average of $29.60 and a 200-day moving average of $31.17.

Yelp (NYSE:YELP) last released its quarterly earnings data on Thursday, November 6th. The local business review company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.14. Yelp had a net margin of 10.23% and a return on equity of 20.33%. The company had revenue of $376.04 million for the quarter, compared to analyst estimates of $368.39 million. During the same period in the previous year, the business earned $0.56 EPS. Yelp’s revenue for the quarter was up 4.4% compared to the same quarter last year. Research analysts expect that Yelp Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In other Yelp news, CEO Jeremy Stoppelman sold 30,000 shares of the firm’s stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $27.39, for a total transaction of $821,700.00. Following the transaction, the chief executive officer owned 756,458 shares in the company, valued at $20,719,384.62. This trade represents a 3.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carmen Amara sold 1,500 shares of the business’s stock in a transaction dated Friday, December 26th. The shares were sold at an average price of $30.69, for a total value of $46,035.00. Following the completion of the transaction, the insider directly owned 74,378 shares of the company’s stock, valued at approximately $2,282,660.82. This trade represents a 1.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 164,906 shares of company stock valued at $4,729,140 in the last 90 days. 8.00% of the stock is currently owned by corporate insiders.

Yelp Company Profile

Yelp is a digital platform that connects consumers with local businesses through user-generated reviews, ratings and multimedia content. The company’s flagship offerings include the Yelp website and mobile applications for iOS and Android, where users can search for and discover restaurants, shops, service providers and other points of interest. In addition to crowd-sourced reviews and photographs, Yelp provides business profile pages featuring hours, contact information, menus and direct messaging capabilities.

Yelp generates revenue primarily through advertising services sold to small and medium-sized enterprises.