Intech Investment Management LLC Takes Position in Yelp Inc. (NYSE:YELP)

Intech Investment Management LLC bought a new stake in Yelp Inc. (NYSE:YELP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,239 shares of the local business review company’s stock, valued at approximately $745,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of YELP. Connor Clark & Lunn Investment Management Ltd. bought a new position in Yelp during the third quarter worth about $267,000. Quest Partners LLC raised its holdings in shares of Yelp by 209.6% in the 3rd quarter. Quest Partners LLC now owns 83,883 shares of the local business review company’s stock worth $2,943,000 after buying an additional 56,789 shares in the last quarter. Ceera Investments LLC lifted its position in shares of Yelp by 10.0% during the 3rd quarter. Ceera Investments LLC now owns 191,017 shares of the local business review company’s stock worth $6,701,000 after buying an additional 17,420 shares during the period. Royce & Associates LP boosted its stake in Yelp by 22.6% in the 3rd quarter. Royce & Associates LP now owns 47,415 shares of the local business review company’s stock valued at $1,663,000 after buying an additional 8,727 shares in the last quarter. Finally, MQS Management LLC acquired a new stake in Yelp in the 3rd quarter valued at $318,000. 90.11% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Robert W. Baird cut their price objective on Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Bank of America began coverage on shares of Yelp in a report on Monday, September 16th. They set an “underperform” rating and a $30.00 price target for the company. The Goldman Sachs Group lowered shares of Yelp from a “buy” rating to a “neutral” rating and reduced their price target for the company from $46.00 to $38.00 in a research report on Monday, October 14th. Evercore ISI raised shares of Yelp to a “hold” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their target price on Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Yelp presently has an average rating of “Hold” and a consensus price target of $37.00.

Insider Transactions at Yelp

In related news, CTO Sam Eaton sold 10,744 shares of Yelp 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 transaction, the chief technology officer now owns 122,480 shares of the company’s stock, valued at $4,301,497.60. This trade represents a 8.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carmen Amara sold 12,854 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $38.17, for a total transaction of $490,637.18. Following the transaction, the insider now owns 88,813 shares of the company’s stock, valued at approximately $3,389,992.21. This represents a 12.64 % 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. Insiders own 7.40% of the company’s stock.

Yelp Price Performance

Shares of NYSE YELP opened at $38.22 on Friday. The company’s 50 day simple moving average is $35.11 and its 200 day simple moving average is $35.45. The firm has a market capitalization of $2.52 billion, a P/E ratio of 22.89, a P/E/G ratio of 0.69 and a beta of 1.33. Yelp Inc. has a fifty-two week low of $32.56 and a fifty-two week high of $48.99.

Yelp 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.