Bank of New York Mellon Corp Decreases Stake in Yelp Inc. (NYSE:YELP)

Bank of New York Mellon Corp lowered its holdings in Yelp Inc. (NYSE:YELP) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 491,944 shares of the local business review company’s stock after selling 9,857 shares during the quarter. Bank of New York Mellon Corp owned 0.75% of Yelp worth $19,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Y Intercept Hong Kong Ltd grew its holdings in shares of Yelp by 15.3% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 14,219 shares of the local business review company’s stock worth $550,000 after acquiring an additional 1,890 shares during the period. Suncoast Equity Management bought a new stake in shares of Yelp in the fourth quarter worth $721,000. Alberta Investment Management Corp grew its holdings in shares of Yelp by 116.4% in the fourth quarter. Alberta Investment Management Corp now owns 26,400 shares of the local business review company’s stock worth $1,022,000 after acquiring an additional 14,200 shares during the period. Truist Financial Corp bought a new stake in shares of Yelp in the fourth quarter worth $276,000. Finally, Sanctuary Advisors LLC grew its holdings in shares of Yelp by 244.2% in the fourth quarter. Sanctuary Advisors LLC now owns 46,976 shares of the local business review company’s stock worth $1,902,000 after acquiring an additional 33,328 shares during the period. Hedge funds and other institutional investors own 90.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on YELP. Evercore ISI raised Yelp to a “hold” rating in a report on Monday, November 11th. Morgan Stanley boosted their price target on Yelp from $34.00 to $35.00 and gave the company an “underweight” rating in a report on Monday, January 13th. Finally, StockNews.com raised Yelp from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $37.17.

Insider Activity

In other Yelp news, insider Craig Saldanha sold 1,000 shares of Yelp stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $37.99, for a total transaction of $37,990.00. Following the completion of the transaction, the insider now owns 183,558 shares in the company, valued at approximately $6,973,368.42. This trade represents a 0.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO David A. Schwarzbach sold 10,000 shares of Yelp stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $39.72, for a total value of $397,200.00. Following the transaction, the chief financial officer now owns 201,988 shares of the company’s stock, valued at $8,022,963.36. The trade was a 4.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,727 shares of company stock worth $2,480,517. Insiders own 7.40% of the company’s stock.

Yelp Stock Up 0.2 %

Shares of NYSE:YELP opened at $35.23 on Tuesday. Yelp Inc. has a 52-week low of $32.56 and a 52-week high of $41.72. The stock has a market cap of $2.32 billion, a P/E ratio of 18.35, a price-to-earnings-growth ratio of 0.76 and a beta of 1.40. The business’s 50 day moving average is $38.27 and its 200 day moving average is $36.66.

Yelp (NYSE:YELP) last announced its quarterly earnings data on Thursday, February 13th. The local business review company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.09. The company had revenue of $361.95 million for the quarter, compared to analysts’ expectations of $350.73 million. Yelp had a return on equity of 18.07% and a net margin of 9.41%. On average, sell-side analysts anticipate that Yelp Inc. will post 2.22 EPS for the current fiscal year.

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.