Yelp Inc. (YELP) Director Sells $265,260.00 in Stock
Yelp Inc. (NYSE:YELP) Director Geoffrey L. Donaker sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $44.21, for a total value of $265,260.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Yelp Inc. (YELP) traded up 0.69% on Thursday, reaching $46.39. The company’s stock had a trading volume of 863,247 shares. Yelp Inc. has a 12-month low of $26.93 and a 12-month high of $46.43. The company’s 50-day moving average is $43.00 and its 200 day moving average is $34.97. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 293.61 and a beta of 1.34.
Yelp (NYSE:YELP) last released its quarterly 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. Yelp had a return on equity of 1.60% and a net margin of 1.67%. The business had revenue of $209.90 million during the quarter, compared to analyst estimates of $204.89 million. During the same quarter in the previous year, the company posted $0.16 earnings per share. Yelp’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities analysts anticipate that Yelp Inc. will post $0.07 earnings per share for the current fiscal year.
Yelp announced that its board has initiated a stock buyback plan on Thursday, August 3rd that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the local business review company to buy up to 7.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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Several equities analysts have issued reports on the company. Piper Jaffray Companies reissued a “hold” rating and issued a $37.00 price target on shares of Yelp in a research note on Friday, August 4th. Roth Capital raised Yelp from a “sell” rating to a “neutral” rating and upped their target price for the stock from $21.00 to $35.00 in a research report on Friday, August 4th. Morgan Stanley reaffirmed an “equal weight” rating and set a $26.00 target price (down from $28.00) on shares of Yelp in a research report on Thursday, July 20th. MKM Partners raised Yelp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $27.00 to $31.31 in a research report on Friday, August 4th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $46.00 target price on shares of Yelp in a research report on Friday, August 4th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and twenty have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $39.78.
Large investors have recently added to or reduced their stakes in the business. Strs Ohio bought a new stake in Yelp during the second quarter valued at about $108,000. FNY Partners Fund LP boosted 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 acquiring an additional 3,730 shares during the period. Russell Investments Group Ltd. boosted 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 acquiring an additional 2,033 shares during the period. FNY Managed Accounts LLC bought a new position in shares of Yelp in the first quarter worth about $163,000. Finally, Teacher Retirement System of Texas boosted its stake in shares of Yelp by 11.8% in the first quarter. Teacher Retirement System of Texas now owns 6,167 shares of the local business review company’s stock worth $202,000 after acquiring an additional 653 shares during the period. 90.85% of the stock is owned by institutional investors and hedge funds.
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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