Yelp Inc. (YELP) Holdings Reduced by State Board of Administration of Florida Retirement System
State Board of Administration of Florida Retirement System trimmed its holdings in shares of Yelp Inc. (NYSE:YELP) by 51.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,702 shares of the local business review company’s stock after selling 49,696 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.06% of Yelp worth $1,432,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Strs Ohio purchased a new position in shares of Yelp in the 2nd quarter worth $108,000. FNY Partners Fund LP boosted its stake in shares of Yelp by 18,650.0% in the 1st quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock worth $122,000 after buying an additional 3,730 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Yelp by 98.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock worth $123,000 after buying an additional 2,033 shares during the last quarter. Neuburgh Advisers LLC purchased a new position in shares of Yelp in the 1st quarter worth $133,000. Finally, FNY Managed Accounts LLC purchased a new position in shares of Yelp in the 1st quarter worth $163,000. Institutional investors and hedge funds own 90.90% of the company’s stock.
In other news, SVP Laurence Wilson sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $42.00, for a total transaction of $420,000.00. Following the completion of the sale, the senior vice president now owns 191,947 shares in the company, valued at approximately $8,061,774. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles Baker sold 3,921 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $41.45, for a total transaction of $162,525.45. Following the sale, the chief financial officer now owns 112,941 shares of the company’s stock, valued at approximately $4,681,404.45. The disclosure for this sale can be found here. Insiders have sold a total of 182,240 shares of company stock valued at $7,381,629 in the last 90 days. Insiders own 10.10% of the company’s stock.
Yelp Inc. (NYSE YELP) opened at 43.57 on Friday. Yelp Inc. has a 12 month low of $26.93 and a 12 month high of $44.25. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 275.76 and a beta of 1.41. The firm’s 50 day moving average price is $40.93 and its 200 day moving average price is $34.08.
Yelp (NYSE:YELP) last announced its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.12. The business had revenue of $209.90 million during the quarter, compared to the consensus estimate of $204.89 million. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The business’s revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 EPS. On average, equities research analysts predict that Yelp Inc. will post $0.07 EPS for the current fiscal year.
Yelp declared that its board has authorized a share buyback program on Thursday, August 3rd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the local business review company to buy up to 7.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
A number of equities analysts have recently issued reports on the company. KeyCorp restated a “buy” rating and issued a $54.00 price target on shares of Yelp in a research note on Wednesday, September 6th. BidaskClub downgraded Yelp from a “buy” rating to a “hold” rating in a research note on Thursday. Jefferies Group LLC raised their price target on Yelp from $43.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research upgraded Yelp from a “sell” rating to a “hold” rating and set a $48.00 price target on the stock in a research note on Tuesday, August 8th. Finally, Cowen and Company restated a “market perform” rating and issued a $38.00 price target (up from $33.00) on shares of Yelp in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and nineteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $38.60.
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 offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.
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