Yelp Inc. (YELP) Director Sells $249,300.00 in Stock
Yelp Inc. (NYSE:YELP) Director Geoffrey L. Donaker sold 6,000 shares of the stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $41.55, for a total transaction of $249,300.00. Following the completion of the transaction, the director now owns 6,000 shares of the company’s stock, valued at approximately $249,300. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Yelp Inc. (NYSE:YELP) opened at 40.66 on Monday. The stock has a 50 day moving average price of $39.03 and a 200-day moving average price of $29.62. The firm’s market capitalization is $3.14 billion. Yelp Inc. has a 52 week low of $14.53 and a 52 week high of $43.36.
Yelp (NYSE:YELP) last issued its quarterly earnings data on Tuesday, August 9th. The local business review company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.08. Yelp had a negative return on equity of 6.14% and a negative net margin of 7.20%. The firm had revenue of $173.40 million for the quarter, compared to analyst estimates of $169.82 million. During the same period in the prior year, the firm posted $0.12 EPS. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, equities research analysts forecast that Yelp Inc. will post ($0.19) earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Emerald Acquisition Ltd. purchased a new position in shares of Yelp during the second quarter worth approximately $112,000. Legal & General Group Plc raised its position in shares of Yelp by 62.0% in the second quarter. Legal & General Group Plc now owns 5,742 shares of the local business review company’s stock worth $174,000 after buying an additional 2,197 shares in the last quarter. IBM Retirement Fund purchased a new position in shares of Yelp during the second quarter worth approximately $209,000. Private Advisor Group LLC purchased a new position in shares of Yelp during the second quarter worth approximately $231,000. Finally, Concourse Capital Management LLC purchased a new position in shares of Yelp during the second quarter worth approximately $278,000. 74.90% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have weighed in on YELP. Vetr raised shares of Yelp from a “hold” rating to a “buy” rating and set a $43.08 price target for the company in a report on Monday. Zacks Investment Research raised shares of Yelp from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Thursday. Cantor Fitzgerald reissued a “buy” rating and issued a $42.00 price target on shares of Yelp in a report on Tuesday, September 27th. Maxim Group upped their price target on shares of Yelp from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, September 26th. Finally, Mizuho upped their price target on shares of Yelp from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, September 14th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.03.
Yelp Company Profile
Yelp Inc (Yelp) connects people with local businesses by bringing word of mouth online and providing a platform for businesses and consumers to engage and transact. The Company provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.
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