Yelp Inc (YELP) Shares Bought by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. boosted its stake in shares of Yelp Inc (NYSE:YELP) by 7.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 433,450 shares of the local business review company’s stock after acquiring an additional 28,586 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.52% of Yelp worth $16,983,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of YELP. Sciencast Management LP bought a new position in shares of Yelp in the 1st quarter valued at about $230,000. Gideon Capital Advisors Inc. bought a new position in shares of Yelp in the 2nd quarter valued at about $245,000. S. R. Schill & Associates bought a new position in shares of Yelp in the 1st quarter valued at about $333,000. Lido Advisors LLC bought a new position in shares of Yelp in the 1st quarter valued at about $358,000. Finally, Mackay Shields LLC bought a new position in shares of Yelp in the 1st quarter valued at about $359,000. 92.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of YELP stock opened at $45.94 on Friday. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 508.00, a P/E/G ratio of 8.30 and a beta of 1.32. Yelp Inc has a 52 week low of $36.42 and a 52 week high of $51.33.
Several research analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Yelp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. Wedbush reissued an “outperform” rating and set a $60.00 price objective on shares of Yelp in a research note on Thursday. Aegis lowered shares of Yelp to a “sell” rating in a research note on Wednesday, June 20th. KeyCorp reissued a “hold” rating on shares of Yelp in a research note on Thursday, August 9th. Finally, Barclays lifted their price objective on shares of Yelp from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 9th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $48.63.
In other Yelp news, Director Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 19th. The shares were sold at an average price of $41.58, for a total transaction of $249,480.00. Following the sale, the director now directly owns 10,055 shares in the company, valued at approximately $418,086.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeremy Stoppelman sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 5th. The stock was sold at an average price of $40.00, for a total transaction of $520,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 209,803 shares of company stock worth $9,093,475 over the last 90 days. Corporate insiders own 9.00% of the company’s stock.
Yelp Inc operates a platform that connects people 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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