Insider Selling: Yelp Inc. (YELP) Director Sells 6,000 Shares of Stock
Yelp Inc. (NYSE:YELP) Director Geoffrey L. Donaker sold 6,000 shares of the stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $45.49, for a total value of $272,940.00. Following the completion of the transaction, the director now directly owns 9,590 shares of the company’s stock, valued at $436,249.10. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Yelp Inc. (YELP) traded up $0.74 during midday trading on Thursday, hitting $46.33. The stock had a trading volume of 1,025,160 shares, compared to its average volume of 2,553,443. Yelp Inc. has a 1-year low of $26.93 and a 1-year high of $48.17. The firm has a market cap of $3,860.00, a price-to-earnings ratio of 208.68, a PEG ratio of 10.31 and a beta of 1.29.
Yelp (NYSE:YELP) last issued its earnings results on Wednesday, November 1st. The local business review company reported $0.29 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.30. Yelp had a return on equity of 2.20% and a net margin of 2.31%. The business had revenue of $222.40 million for the quarter, compared to analyst estimates of $220.75 million. During the same quarter last year, the company earned $0.22 EPS. The business’s quarterly revenue was up 19.4% on a year-over-year basis. research analysts anticipate that Yelp Inc. will post 0.17 earnings per share for the current year.
Yelp announced that its Board of Directors has authorized a stock repurchase program on Thursday, August 3rd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the local business review company to reacquire up to 7.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
Several research analysts recently commented on YELP shares. MKM Partners raised Yelp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $27.00 to $31.31 in a research note on Friday, August 4th. Credit Suisse Group set a $40.00 price objective on Yelp and gave the company a “buy” rating in a research note on Friday, August 4th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price objective (up from $30.00) on shares of Yelp in a research note on Friday, August 4th. Jefferies Group LLC increased their price objective on Yelp from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, August 4th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $45.00 price objective (up from $36.00) on shares of Yelp in a research note on Friday, August 4th. 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 stock. The company has a consensus rating of “Hold” and a consensus target price of $43.37.
Hedge funds and other institutional investors have recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of Yelp during the 2nd quarter worth about $108,000. Russell Investments Group Ltd. raised 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 worth $123,000 after acquiring an additional 2,033 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in shares of Yelp by 28,585.7% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,016 shares of the local business review company’s stock worth $174,000 after acquiring an additional 4,002 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Yelp during the 3rd quarter worth about $204,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Yelp during the 2nd quarter worth about $205,000. 87.69% of the stock is currently 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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