Russell Investments Group Ltd. raised its stake in shares of Yelp Inc (NYSE:YELP) by 13.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 561,247 shares of the local business review company’s stock after purchasing an additional 68,061 shares during the period. Russell Investments Group Ltd. owned approximately 0.78% of Yelp worth $12,891,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in YELP. Prescott General Partners LLC boosted its stake in Yelp by 14.0% during the 1st quarter. Prescott General Partners LLC now owns 5,651,016 shares of the local business review company’s stock valued at $101,888,000 after purchasing an additional 694,990 shares during the last quarter. Tenzing Global Management LLC lifted its position in shares of Yelp by 61.3% during the 1st quarter. Tenzing Global Management LLC now owns 1,250,000 shares of the local business review company’s stock worth $22,538,000 after buying an additional 475,000 shares in the last quarter. Morgan Stanley lifted its position in shares of Yelp by 72.7% during the 1st quarter. Morgan Stanley now owns 713,243 shares of the local business review company’s stock worth $12,859,000 after buying an additional 300,350 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Yelp by 87.4% during the 1st quarter. AQR Capital Management LLC now owns 418,439 shares of the local business review company’s stock worth $7,390,000 after buying an additional 195,098 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its position in shares of Yelp by 31.6% during the 1st quarter. Pictet Asset Management Ltd. now owns 724,973 shares of the local business review company’s stock worth $13,071,000 after buying an additional 174,258 shares in the last quarter. Institutional investors and hedge funds own 91.67% of the company’s stock.
Several research firms have commented on YELP. Needham & Company LLC began coverage on shares of Yelp in a research report on Friday, August 7th. They set a “hold” rating on the stock. ValuEngine raised shares of Yelp from a “hold” rating to a “buy” rating in a research report on Thursday, July 2nd. Stifel Nicolaus reissued a “hold” rating and set a $22.00 target price on shares of Yelp in a research report on Friday, August 7th. Wells Fargo & Co reissued a “hold” rating on shares of Yelp in a research report on Friday, August 7th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $21.00 target price on shares of Yelp in a research report on Monday, July 20th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. Yelp currently has an average rating of “Hold” and an average price target of $27.12.
Yelp stock opened at $22.62 on Tuesday. Yelp Inc has a 1-year low of $12.89 and a 1-year high of $38.40. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -133.05 and a beta of 1.52. The company has a current ratio of 5.12, a quick ratio of 4.23 and a debt-to-equity ratio of 0.21. The firm has a 50 day simple moving average of $23.39 and a 200 day simple moving average of $24.30.
Yelp (NYSE:YELP) last released its quarterly earnings data on Thursday, August 6th. The local business review company reported ($0.33) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.22. Yelp had a negative net margin of 1.29% and a negative return on equity of 1.64%. The business had revenue of $169.00 million during the quarter, compared to analyst estimates of $152.60 million. During the same period in the previous year, the business earned $0.16 EPS. Yelp’s revenue was down 31.6% compared to the same quarter last year. On average, equities research analysts forecast that Yelp Inc will post -0.77 EPS for the current year.
In other news, insider Laurence Wilson sold 1,819 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $23.10, for a total transaction of $42,018.90. Following the completion of the transaction, the insider now directly owns 175,892 shares in the company, valued at approximately $4,063,105.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vivek Patel sold 3,772 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $20.81, for a total transaction of $78,495.32. Following the transaction, the insider now owns 131,244 shares of the company’s stock, valued at $2,731,187.64. The disclosure for this sale can be found here. Insiders sold a total of 21,189 shares of company stock valued at $496,677 over the last quarter. 9.50% of the stock is owned by company insiders.
About Yelp
Yelp Inc operates a platform that connects consumers with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.
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