First Manhattan Co. grew its position in Yelp Inc (NYSE:YELP) by 8.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,554,043 shares of the local business review company’s stock after acquiring an additional 126,090 shares during the quarter. First Manhattan Co.’s holdings in Yelp were worth $60,887,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of YELP. Aperio Group LLC raised its stake in shares of Yelp by 12.9% during the first quarter. Aperio Group LLC now owns 11,052 shares of the local business review company’s stock worth $461,000 after purchasing an additional 1,259 shares during the last quarter. Amalgamated Bank raised its stake in shares of Yelp by 16.0% during the second quarter. Amalgamated Bank now owns 12,383 shares of the local business review company’s stock worth $485,000 after purchasing an additional 1,708 shares during the last quarter. Pier 88 Investment Partners LLC raised its stake in shares of Yelp by 21.3% during the first quarter. Pier 88 Investment Partners LLC now owns 14,770 shares of the local business review company’s stock worth $617,000 after purchasing an additional 2,595 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of Yelp by 0.4% during the first quarter. OppenheimerFunds Inc. now owns 950,991 shares of the local business review company’s stock worth $39,704,000 after purchasing an additional 3,489 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its stake in shares of Yelp by 48.1% during the first quarter. Xact Kapitalforvaltning AB now owns 11,081 shares of the local business review company’s stock worth $463,000 after purchasing an additional 3,600 shares during the last quarter. 88.18% of the stock is owned by institutional investors and hedge funds.
In related news, Director Geoffrey L. Donaker sold 6,000 shares of the business’s stock in a transaction dated Tuesday, May 8th. The shares were sold at an average price of $46.97, for a total transaction of $281,820.00. Following the sale, the director now owns 10,055 shares of the company’s stock, valued at $472,283.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeremy Stoppelman sold 13,000 shares of the business’s stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $41.88, for a total transaction of $544,440.00. The disclosure for this sale can be found here. Insiders have sold a total of 172,500 shares of company stock worth $7,224,205 in the last ninety days. Insiders own 9.00% of the company’s stock.
Yelp (NYSE:YELP) last announced its earnings results on Thursday, May 10th. The local business review company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). The company had revenue of $223.07 million for the quarter, compared to the consensus estimate of $220.17 million. Yelp had a net margin of 17.80% and a return on equity of 0.47%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. equities research analysts forecast that Yelp Inc will post 0.13 EPS for the current fiscal year.
Several equities research analysts have recently commented on YELP shares. B. Riley upgraded Yelp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $42.00 to $58.00 in a research note on Friday, May 18th. Aegis cut Yelp from a “buy” rating to a “hold” rating and cut their price objective for the stock from $46.00 to $45.00 in a research report on Friday, May 11th. ValuEngine upgraded Yelp from a “sell” rating to a “hold” rating in a research report on Tuesday, May 1st. Zacks Investment Research reiterated a “hold” rating on shares of Yelp in a research report on Saturday, April 7th. Finally, Wedbush reiterated a “neutral” rating on shares of Yelp in a research report on Wednesday, May 16th. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $45.60.
Yelp Company Profile
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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