Yelp Inc. (NYSE:YELP) Director Geoffrey L. Donaker sold 6,000 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $45.55, for a total value of $273,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Yelp (NYSE:YELP) last issued its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.12. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The firm had revenue of $209.90 million for the quarter, compared to analysts’ expectations of $204.89 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The business’s revenue for the quarter was up 21.0% compared to the same quarter last year.
Yelp declared that its Board of Directors has approved a share repurchase plan on Thursday, August 3rd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the local business review company to reacquire up to 7.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio purchased a new position in shares of Yelp during the 2nd quarter valued at $108,000. FNY Partners Fund LP lifted its position in shares of Yelp by 18,650.0% during the 1st quarter. FNY Partners Fund LP now owns 3,750 shares of the local business review company’s stock valued at $122,000 after buying an additional 3,730 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of Yelp by 98.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 4,091 shares of the local business review company’s stock valued at $123,000 after buying an additional 2,033 shares during the last quarter. FNY Managed Accounts LLC purchased a new position in shares of Yelp during the 1st quarter valued at $163,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Yelp by 11.8% during the 1st quarter. Teacher Retirement System of Texas now owns 6,167 shares of the local business review company’s stock valued at $202,000 after buying an additional 653 shares during the last quarter. 90.85% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have recently commented on YELP shares. Roth Capital raised Yelp from a “sell” rating to a “neutral” rating and upped their price target for the company from $21.00 to $35.00 in a research note on Friday, August 4th. Credit Suisse Group set a $40.00 price target on Yelp and gave the company a “buy” rating in a research note on Friday, August 4th. BidaskClub cut Yelp from a “hold” rating to a “sell” rating in a research note on Thursday, June 22nd. Robert W. Baird reaffirmed a “neutral” rating and issued a $37.00 price target (up from $26.00) on shares of Yelp in a research note on Thursday, August 10th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $54.00 price target on shares of Yelp in a research note on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and eighteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $40.58.
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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