Yelp Inc. (NYSE:YELP) CEO Jeremy Stoppelman Sells 13,000 Shares
Yelp Inc. (NYSE:YELP) CEO Jeremy Stoppelman sold 13,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $40.00, for a total value of $520,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link.
Yelp Inc. (YELP) traded down 0.10% during mid-day trading on Tuesday, reaching $41.69. The company’s stock had a trading volume of 3,758,766 shares. The stock has a market capitalization of $3.36 billion, a P/E ratio of 563.38 and a beta of 1.48. The stock’s 50 day moving average price is $31.40 and its 200 day moving average price is $33.39. Yelp Inc. has a 1-year low of $26.93 and a 1-year high of $43.41.
Yelp (NYSE:YELP) last issued its quarterly earnings data on Thursday, August 3rd. The local business review company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.64%. The firm had revenue of $209.90 million for the quarter, compared to analyst estimates of $204.89 million. During the same quarter in the previous year, the business posted $0.16 EPS. The firm’s revenue was up 21.0% compared to the same quarter last year. Analysts expect that Yelp Inc. will post $0.06 EPS for the current fiscal year.
Yelp declared that its Board of Directors has approved a share repurchase program on Thursday, August 3rd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the local business review company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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A number of institutional investors have recently modified their holdings of the company. Capital Fund Management S.A. raised its position in shares of Yelp by 852.6% in the first quarter. Capital Fund Management S.A. now owns 335,272 shares of the local business review company’s stock worth $10,980,000 after buying an additional 300,076 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Yelp by 192.1% in the first quarter. Daiwa Securities Group Inc. now owns 194,846 shares of the local business review company’s stock worth $6,381,000 after buying an additional 128,131 shares in the last quarter. Flinton Capital Management LLC purchased a new position in shares of Yelp during the first quarter worth approximately $205,000. Tyers Asset Management LLC purchased a new position in shares of Yelp during the first quarter worth approximately $169,000. Finally, Millie Capital Management LLC raised its position in shares of Yelp by 1.2% in the first quarter. Millie Capital Management LLC now owns 64,378 shares of the local business review company’s stock worth $2,108,000 after buying an additional 775 shares in the last quarter. Hedge funds and other institutional investors own 94.79% of the company’s stock.
A number of equities analysts have commented on the company. B. Riley reissued a “neutral” rating and set a $25.00 target price on shares of Yelp in a report on Wednesday, May 10th. Royal Bank Of Canada reduced their target price on Yelp from $46.00 to $29.00 and set a “market perform” rating for the company in a report on Thursday, May 11th. Barclays PLC reissued an “equal weight” rating and set a $36.00 target price (up previously from $28.00) on shares of Yelp in a report on Friday. Zacks Investment Research raised Yelp from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Susquehanna Bancshares Inc reissued a “neutral” rating and set a $22.00 target price (down previously from $35.00) on shares of Yelp in a report on Friday, May 12th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and eighteen have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $37.25.
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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