Joseph R. Nachman Sells 6,500 Shares of Yelp Inc. (YELP) Stock
Yelp Inc. (NYSE:YELP) COO Joseph R. Nachman sold 6,500 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $41.05, for a total value of $266,825.00. Following the sale, the chief operating officer now directly owns 124,615 shares of the company’s stock, valued at $5,115,445.75. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Shares of Yelp Inc. (YELP) opened at 41.98 on Thursday. The company has a 50-day moving average price of $34.10 and a 200-day moving average price of $33.34. The company has a market cap of $3.43 billion, a PE ratio of 265.70 and a beta of 1.48. Yelp Inc. has a 1-year low of $26.93 and a 1-year high of $43.41.
Yelp (NYSE:YELP) last announced its earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.12. The company had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. Yelp had a return on equity of 1.60% and a net margin of 1.67%. Yelp’s quarterly revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Equities research analysts expect that Yelp Inc. will post $0.07 earnings per share for the current fiscal year.
Yelp announced that its Board of Directors has approved a share buyback program on Thursday, August 3rd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the local business review company to repurchase up to 7.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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YELP has been the subject of several recent research reports. Vetr cut Yelp from a “strong-buy” rating to a “buy” rating and set a $36.94 price objective for the company. in a report on Thursday, April 20th. Wells Fargo & Company raised Yelp from an “underperform” rating to a “market perform” rating and set a $27.00 price objective for the company in a report on Friday, May 5th. Raymond James Financial, Inc. reissued an “outperform” rating and set a $37.00 price objective (down from $47.00) on shares of Yelp in a report on Wednesday, May 10th. Credit Suisse Group set a $40.00 price objective on Yelp and gave the stock a “buy” rating in a report on Friday, August 4th. Finally, BidaskClub cut Yelp from a “hold” rating to a “sell” rating in a report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $37.95.
A number of hedge funds have recently modified their holdings of YELP. Strs Ohio acquired a new stake in shares of Yelp during the second quarter worth approximately $108,000. FNY Partners Fund LP raised its stake in shares of Yelp by 18,650.0% in the first 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 period. Russell Investments Group Ltd. raised its stake in shares of Yelp by 98.8% in the second 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 period. Neuburgh Advisers LLC acquired a new stake in shares of Yelp during the first quarter worth approximately $133,000. Finally, Independent Portfolio Consultants Inc. acquired a new stake in shares of Yelp during the first quarter worth approximately $159,000. Institutional investors and hedge funds own 95.37% of the company’s stock.
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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