Amalgamated Bank Sells 1,002 Shares of Yelp Inc. (NYSE:YELP)

Amalgamated Bank cut its position in Yelp Inc. (NYSE:YELP) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,600 shares of the local business review company’s stock after selling 1,002 shares during the quarter. Amalgamated Bank’s holdings in Yelp were worth $688,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in YELP. Fifth Third Bancorp raised its stake in shares of Yelp by 262.8% during the 2nd 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. bought a new stake in shares of Yelp during the 2nd quarter valued at $25,000. GAMMA Investing LLC raised its stake in shares of Yelp by 115.9% during the 3rd quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock valued at $34,000 after purchasing an additional 524 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Yelp by 54.5% during 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 purchasing an additional 405 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Yelp by 98.5% during the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock valued at $41,000 after purchasing an additional 583 shares during the period. 90.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Evercore ISI upgraded Yelp to a “hold” rating in a research note on Monday, November 11th. Morgan Stanley boosted their target price on Yelp from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. 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 for the company. Finally, Robert W. Baird reduced their target price on Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Yelp has an average rating of “Hold” and an average target price of $37.00.

Insider Transactions at Yelp

In related news, CTO Sam Eaton sold 10,776 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $35.00, for a total transaction of $377,160.00. Following the completion of the sale, the chief technology officer now directly owns 145,171 shares in the company, valued at $5,080,985. This represents a 6.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carmen Amara sold 12,854 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.17, for a total value of $490,637.18. Following the sale, the insider now owns 88,813 shares of the company’s stock, valued at $3,389,992.21. This represents a 12.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,630 shares of company stock worth $1,105,937. 7.40% of the stock is currently owned by corporate insiders.

Yelp Trading Down 1.3 %

YELP opened at $35.96 on Friday. The stock has a 50-day moving average price of $34.58 and a 200-day moving average price of $35.65. Yelp Inc. has a 12-month low of $32.56 and a 12-month high of $48.99. The stock has a market capitalization of $2.41 billion, a P/E ratio of 21.53, a PEG ratio of 0.68 and a beta of 1.33.

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.