Short Interest in Yelp Inc. (YELP) Increases By 79.6%
Yelp Inc. (NYSE:YELP) was the target of a large growth in short interest in October. As of October 31st, there was short interest totalling 7,024,002 shares, a growth of 79.6% from the October 14th total of 3,911,588 shares. Based on an average trading volume of 2,772,341 shares, the days-to-cover ratio is currently 2.5 days. Approximately 11.6% of the company’s stock are short sold.
A number of analysts have recently weighed in on the company. Zacks Investment Research raised Yelp from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Thursday, October 6th. Vetr raised Yelp from a “hold” rating to a “buy” rating and set a $42.74 price objective for the company in a research report on Monday, October 3rd. Macquarie raised their price objective on Yelp from $39.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 7th. Cantor Fitzgerald reissued a “buy” rating and issued a $42.00 price objective on shares of Yelp in a research report on Tuesday, September 27th. Finally, Maxim Group raised their price objective on Yelp from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, September 26th. Three research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eighteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $37.00.
In other news, COO Joseph R. Nachman sold 2,508 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $37.45, for a total value of $93,924.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael Stoppelman sold 5,000 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $38.19, for a total value of $190,950.00. Following the completion of the sale, the senior vice president now directly owns 131,948 shares of the company’s stock, valued at approximately $5,039,094.12. The disclosure for this sale can be found here. Company insiders own 11.08% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. FNY Managed Accounts LLC purchased a new stake in shares of Yelp during the third quarter worth about $100,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Yelp by 11.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,575 shares of the local business review company’s stock worth $107,000 after buying an additional 270 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of Yelp during the second quarter worth about $112,000. US Bancorp DE raised its stake in shares of Yelp by 3,181.0% in the third quarter. US Bancorp DE now owns 3,970 shares of the local business review company’s stock worth $165,000 after buying an additional 3,849 shares during the period. Finally, Legal & General Group Plc raised its stake 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 during the period. Hedge funds and other institutional investors own 77.58% of the company’s stock.
Shares of Yelp (NYSE:YELP) opened at 37.51 on Friday. The stock’s 50 day moving average price is $36.97 and its 200-day moving average price is $32.75. The stock’s market cap is $2.94 billion. Yelp 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 Wednesday, November 2nd. The local business review company reported $0.22 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.25. Yelp had a negative net margin of 5.23% and a negative return on equity of 4.58%. The business earned $186.20 million during the quarter, compared to analysts’ expectations of $183 million. During the same period last year, the company posted $0.03 EPS. The company’s revenue was up 29.7% on a year-over-year basis. On average, analysts predict that Yelp will post ($0.14) earnings per share for the current fiscal year.
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.
Receive News & Stock Ratings for Yelp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Yelp Inc. and related stocks with our FREE daily email newsletter.