Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Yelp Inc. (NYSE:YELP)

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Yelp Inc. (NYSE:YELP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,613 shares of the local business review company’s stock, valued at approximately $267,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of YELP. Fifth Third Bancorp boosted 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. bought a new stake in Yelp during the 2nd quarter valued at $25,000. GAMMA Investing LLC lifted its holdings in shares of 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 during the period. Exchange Traded Concepts LLC grew its position 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 worth $40,000 after buying an additional 405 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of Yelp by 98.5% during the third quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock valued at $41,000 after buying an additional 583 shares during the period. 90.11% of the stock is currently owned by hedge funds and other institutional investors.

Yelp Stock Performance

Shares of YELP opened at $38.22 on Monday. Yelp Inc. has a 1 year low of $32.56 and a 1 year high of $48.99. The stock has a market capitalization of $2.52 billion, a PE ratio of 22.89, a PEG ratio of 0.69 and a beta of 1.33. The stock has a 50-day simple moving average of $35.19 and a 200-day simple moving average of $35.44.

Insider Transactions at Yelp

In related news, COO Joseph R. Nachman sold 7,000 shares of the company’s stock in a transaction on 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 sale, the chief operating officer now owns 255,558 shares in the company, valued at $8,694,083.16. This represents a 2.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Sam Eaton sold 10,744 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $35.12, for a total value of $377,329.28. Following the transaction, the chief technology officer now directly owns 122,480 shares in the company, valued at approximately $4,301,497.60. This represents a 8.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,598 shares of company stock valued at $1,106,106. Corporate insiders own 7.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. StockNews.com raised 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 note on Monday, September 16th. They issued an “underperform” rating and a $30.00 target price on the stock. Evercore ISI raised shares of Yelp to a “hold” rating in a research report on Monday, November 11th. Robert W. Baird cut their price objective on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. decreased their target price 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. Two research analysts have rated the stock with a sell rating, six have given 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.com, the company has a consensus rating of “Hold” and an average target price of $37.00.

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.