Yelp Inc. (NYSE:YELP) Shares Bought by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC grew its position in Yelp Inc. (NYSE:YELP) by 54.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,148 shares of the local business review company’s stock after acquiring an additional 405 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Yelp were worth $40,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Fidelis Capital Partners LLC acquired a new position in Yelp in the 1st quarter valued at about $25,000. Fifth Third Bancorp increased its holdings in shares of Yelp by 262.8% in the second quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock valued at $25,000 after purchasing an additional 481 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Yelp during the second quarter worth approximately $25,000. GAMMA Investing LLC lifted its holdings in shares of Yelp by 115.9% during the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock worth $34,000 after purchasing an additional 524 shares during the period. Finally, Quarry LP grew its position in Yelp by 153.4% in the 2nd quarter. Quarry LP now owns 1,323 shares of the local business review company’s stock valued at $49,000 after buying an additional 801 shares during the last quarter. 90.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Yelp

In related news, COO Joseph R. Nachman sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $33.25, for a total value of $232,750.00. Following the sale, the chief operating officer now owns 281,842 shares of the company’s stock, valued at approximately $9,371,246.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Joseph R. Nachman sold 7,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $33.25, for a total value of $232,750.00. Following the completion of the transaction, the chief operating officer now owns 281,842 shares of the company’s stock, valued at approximately $9,371,246.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Sam Eaton sold 10,776 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $35.00, for a total transaction of $377,160.00. Following the completion of the transaction, the chief technology officer now owns 145,171 shares in the company, valued at approximately $5,080,985. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 24,776 shares of company stock valued at $848,050 in the last ninety days. Corporate insiders own 7.40% of the company’s stock.

Yelp Stock Performance

YELP opened at $33.38 on Thursday. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 21.26, a PEG ratio of 0.81 and a beta of 1.33. Yelp Inc. has a one year low of $32.56 and a one year high of $48.99. The business’s fifty day moving average is $34.23 and its two-hundred day moving average is $36.18.

Yelp (NYSE:YELP) last issued its quarterly earnings data on Thursday, August 8th. The local business review company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The firm had revenue of $357.00 million for the quarter, compared to analysts’ expectations of $352.98 million. Yelp had a net margin of 10.01% and a return on equity of 18.71%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 EPS. On average, analysts predict that Yelp Inc. will post 1.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on YELP. JPMorgan Chase & Co. cut their price objective on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. The Goldman Sachs Group downgraded shares of Yelp from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $46.00 to $38.00 in a research report on Monday, October 14th. Bank of America assumed coverage on Yelp in a research report on Monday, September 16th. They set an “underperform” rating and a $30.00 target price on the stock. Wolfe Research began coverage on Yelp in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Finally, Morgan Stanley upped their price objective on Yelp from $32.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $37.33.

About Yelp

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.