Yelp Inc. (NYSE:YELP) Stake Lowered by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in Yelp Inc. (NYSE:YELP) by 9.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,064 shares of the local business review company’s stock after selling 1,024 shares during the period. Mutual of America Capital Management LLC’s holdings in Yelp were worth $353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in YELP. Fifth Third Bancorp grew its position in Yelp by 262.8% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock worth $25,000 after purchasing an additional 481 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Yelp during the second quarter worth approximately $25,000. GAMMA Investing LLC grew its holdings in Yelp by 115.9% in the 3rd quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock worth $34,000 after buying an additional 524 shares in the last quarter. Exchange Traded Concepts LLC increased its position in Yelp by 54.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock valued at $40,000 after acquiring an additional 405 shares during the period. Finally, Signaturefd LLC boosted its position in Yelp by 98.5% during the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock worth $41,000 after acquiring an additional 583 shares during the period. Institutional investors and hedge funds own 90.11% of the company’s stock.

Analyst Upgrades and Downgrades

YELP has been the topic of a number of recent analyst reports. Bank of America assumed coverage on shares of Yelp in a research note on Monday, September 16th. They set an “underperform” rating and a $30.00 price objective on the stock. The Goldman Sachs Group downgraded shares of Yelp from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $46.00 to $38.00 in a research report on Monday, October 14th. StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. Robert W. Baird dropped their target price on Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a report on Friday, November 8th. Finally, Evercore ISI raised Yelp to a “hold” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $37.00.

Yelp Stock Performance

NYSE YELP opened at $38.12 on Thursday. Yelp Inc. has a 1 year low of $32.56 and a 1 year high of $48.99. The business’s fifty day moving average is $34.96 and its two-hundred day moving average is $35.42. The stock has a market capitalization of $2.51 billion, a P/E ratio of 22.32, a P/E/G ratio of 0.68 and a beta of 1.33.

Insider Buying and Selling

In other Yelp news, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $34.02, for a total value of $238,140.00. Following the completion of the transaction, the chief operating officer now directly owns 255,558 shares in the company, valued at $8,694,083.16. This trade represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Sam Eaton sold 10,744 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $35.12, for a total transaction of $377,329.28. Following the sale, the chief technology officer now owns 122,480 shares in the company, valued at $4,301,497.60. This represents a 8.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,598 shares of company stock worth $1,106,106 in the last three months. 7.40% of the stock is currently owned by 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.