William Blair Investment Management LLC Purchases Shares of 190,609 Yelp Inc. (YELP)
William Blair Investment Management LLC purchased a new position in shares of Yelp Inc. (NYSE:YELP) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 190,609 shares of the local business review company’s stock, valued at approximately $5,722,000. William Blair Investment Management LLC owned about 0.24% of Yelp as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Strs Ohio bought a new position in shares of Yelp during the second quarter worth $108,000. FNY Partners Fund LP raised its position 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 in the last quarter. Neuburgh Advisers LLC bought a new position in shares of Yelp during the first quarter worth $133,000. Russell Investments Group Ltd. raised its position 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 in the last quarter. Finally, Independent Portfolio Consultants Inc. bought a new position in shares of Yelp during the first quarter worth $159,000. 95.37% of the stock is currently owned by hedge funds and other institutional investors.
Yelp Inc. (NYSE:YELP) opened at 42.14 on Friday. The firm has a 50-day moving average of $36.29 and a 200-day moving average of $33.38. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 266.71 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 quarterly earnings data on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.12. The firm had revenue of $209.90 million during 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%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.16 EPS. On average, analysts expect that Yelp Inc. will post $0.07 earnings per share for the current year.
Yelp announced that its Board of Directors has approved a share repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the local business review company to purchase up to 7.9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
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A number of brokerages recently weighed in on YELP. B. Riley reaffirmed a “neutral” rating and issued a $25.00 price target on shares of Yelp in a research note on Monday, May 15th. Cowen and Company reiterated a “market perform” rating and issued a $38.00 price objective (up previously from $33.00) on shares of Yelp in a report on Wednesday, August 9th. Zacks Investment Research upgraded shares of Yelp from a “sell” rating to a “hold” rating and set a $48.00 price objective for the company in a report on Tuesday, August 8th. Robert W. Baird reiterated a “neutral” rating and issued a $37.00 price objective (up previously from $26.00) on shares of Yelp in a report on Thursday, August 10th. Finally, Jefferies Group LLC increased their price objective on shares of Yelp from $43.00 to $49.00 and gave the company a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Yelp has a consensus rating of “Hold” and a consensus target price of $38.13.
In other Yelp news, CEO Jeremy Stoppelman sold 13,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $40.00, for a total transaction of $520,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles Baker sold 3,921 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $41.45, for a total value of $162,525.45. Following the sale, the chief financial officer now directly owns 112,941 shares of the company’s stock, valued at $4,681,404.45. The disclosure for this sale can be found here. Insiders have sold a total of 151,240 shares of company stock valued at $5,931,159 over the last three months. Company insiders own 10.10% of the company’s stock.
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 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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