Yelp Inc. (YELP) Director Geoffrey L. Donaker Sells 42,000 Shares
Yelp Inc. (NYSE:YELP) Director Geoffrey L. Donaker sold 42,000 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 transaction of $1,680,000.00. Following the completion of the transaction, the director now owns 47,590 shares of the company’s stock, valued at $1,903,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Yelp Inc. (NYSE YELP) traded down 0.10% on Tuesday, hitting $41.69. 3,758,766 shares of the stock were exchanged. The stock has a market capitalization of $3.36 billion, a P/E ratio of 563.38 and a beta of 1.48. The company has a 50 day moving average of $31.40 and a 200 day moving average of $33.39. Yelp Inc. has a one year low of $26.93 and a one year high of $43.41.
Yelp (NYSE:YELP) last posted its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 period in the prior year, the firm posted $0.16 earnings per share. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts forecast that Yelp Inc. will post $0.06 earnings per share for the current fiscal year.
Yelp announced that its board has initiated a stock buyback program 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 repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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A number of hedge funds have recently bought and sold shares of the company. Strs Ohio purchased a new stake in Yelp during the second quarter valued at about $108,000. FNY Partners Fund LP increased its position in 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 valued at $122,000 after buying an additional 3,730 shares in the last quarter. Russell Investments Group Ltd. increased its position in 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 valued at $123,000 after buying an additional 2,033 shares in the last quarter. Neuburgh Advisers LLC bought a new position in Yelp during the first quarter valued at approximately $133,000. Finally, Independent Portfolio Consultants Inc. bought a new position in Yelp during the first quarter valued at approximately $159,000. 94.79% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Yelp from a “sell” rating to a “hold” rating in a report on Tuesday. Piper Jaffray Companies reiterated a “hold” rating and issued a $37.00 price objective on shares of Yelp in a report on Friday. Stifel Nicolaus set a $35.00 price objective on shares of Yelp and gave the company a “hold” rating in a report on Friday. Roth Capital upgraded shares of Yelp from a “sell” rating to a “neutral” rating and increased their price objective for the company from $21.00 to $35.00 in a report on Friday. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $45.00 price objective (up from $36.00) on shares of Yelp in a report on Friday. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eighteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $37.25.
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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