Migdal Insurance & Financial Holdings Ltd. cut its holdings in shares of Yelp Inc (NYSE:YELP) by 73.5% in the third quarter, HoldingsChannel.com reports. The firm owned 28,873 shares of the local business review company’s stock after selling 80,253 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in Yelp were worth $1,421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Trexquant Investment LP grew its holdings in shares of Yelp by 3.7% during the 2nd quarter. Trexquant Investment LP now owns 39,659 shares of the local business review company’s stock worth $1,554,000 after purchasing an additional 1,414 shares during the period. Amalgamated Bank grew its holdings in shares of Yelp by 16.0% during the 2nd quarter. Amalgamated Bank now owns 12,383 shares of the local business review company’s stock worth $485,000 after purchasing an additional 1,708 shares during the period. Federated Investors Inc. PA boosted its holdings in Yelp by 2.0% during the 2nd quarter. Federated Investors Inc. PA now owns 87,520 shares of the local business review company’s stock valued at $3,429,000 after acquiring an additional 1,758 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in Yelp by 7.2% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 26,363 shares of the local business review company’s stock valued at $1,033,000 after acquiring an additional 1,760 shares during the period. Finally, Sei Investments Co. boosted its holdings in Yelp by 0.5% during the 2nd quarter. Sei Investments Co. now owns 371,720 shares of the local business review company’s stock valued at $14,564,000 after acquiring an additional 1,924 shares during the period. Institutional investors and hedge funds own 87.48% of the company’s stock.

YELP stock opened at $31.27 on Tuesday. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 446.71, a P/E/G ratio of 4.58 and a beta of 1.29. Yelp Inc has a 1 year low of $29.33 and a 1 year high of $52.50.

Yelp (NYSE:YELP) last posted its quarterly earnings results on Thursday, November 8th. The local business review company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.09. The company had revenue of $241.10 million for the quarter, compared to analyst estimates of $245.55 million. Yelp had a return on equity of 1.34% and a net margin of 18.04%. Yelp’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. Equities research analysts expect that Yelp Inc will post 0.37 earnings per share for the current fiscal year.

In other news, COO Joseph R. Nachman sold 10,500 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $49.77, for a total transaction of $522,585.00. Following the sale, the chief operating officer now owns 119,935 shares of the company’s stock, valued at approximately $5,969,164.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alan Ramsay sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, November 13th. The stock was sold at an average price of $33.19, for a total value of $165,950.00. Following the sale, the insider now directly owns 35,234 shares in the company, valued at approximately $1,169,416.46. The disclosure for this sale can be found here. Insiders sold a total of 203,000 shares of company stock worth $9,105,005 in the last ninety days. 9.00% of the stock is owned by corporate insiders.

YELP has been the subject of a number of research analyst reports. Stifel Nicolaus raised their target price on Yelp from $40.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, August 9th. Zacks Investment Research cut Yelp from a “buy” rating to a “hold” rating in a report on Friday, September 28th. Cowen set a $39.00 target price on Yelp and gave the company a “hold” rating in a report on Friday, November 9th. KeyCorp restated a “hold” rating on shares of Yelp in a report on Thursday, August 9th. Finally, Deutsche Bank cut Yelp from a “buy” rating to a “hold” rating and lowered their target price for the company from $64.00 to $34.00 in a report on Friday, November 9th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $42.14.

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Yelp Profile

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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Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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