Bank of Montreal Can grew its holdings in shares of Yelp Inc (NYSE:YELP) by 24.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 38,087 shares of the local business review company’s stock after buying an additional 7,506 shares during the quarter. Bank of Montreal Can’s holdings in Yelp were worth $1,873,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in YELP. BlackRock Inc. grew its stake in Yelp by 28.7% in the second quarter. BlackRock Inc. now owns 7,154,009 shares of the local business review company’s stock worth $280,295,000 after purchasing an additional 1,597,355 shares in the last quarter. Macquarie Group Ltd. grew its stake in Yelp by 126.7% in the second quarter. Macquarie Group Ltd. now owns 1,105,663 shares of the local business review company’s stock worth $43,320,000 after purchasing an additional 617,864 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Yelp by 647.5% in the second quarter. Dimensional Fund Advisors LP now owns 647,466 shares of the local business review company’s stock worth $25,368,000 after purchasing an additional 560,847 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD grew its stake in Yelp by 15.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,096,725 shares of the local business review company’s stock worth $82,149,000 after purchasing an additional 285,890 shares in the last quarter. Finally, Portolan Capital Management LLC bought a new position in Yelp in the second quarter worth approximately $8,165,000. 86.05% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Jeremy Stoppelman sold 13,000 shares of the stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $43.98, for a total transaction of $571,740.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Geoffrey L. Donaker sold 2,000 shares of the stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $44.74, for a total value of $89,480.00. Following the sale, the director now owns 8,055 shares of the company’s stock, valued at approximately $360,380.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 223,500 shares of company stock valued at $10,135,885. 9.00% of the stock is owned by company insiders.
Yelp stock opened at $31.93 on Friday. The firm has a market cap of $3.73 billion, a price-to-earnings ratio of 456.14, a P/E/G ratio of 7.46 and a beta of 1.29. Yelp Inc has a twelve month low of $29.33 and a twelve month high of $52.50.
Yelp (NYSE:YELP) last posted its earnings results on Thursday, November 8th. The local business review company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.09. The company had revenue of $241.10 million during the quarter, compared to analyst estimates of $245.55 million. Yelp had a return on equity of 0.74% and a net margin of 17.64%. Yelp’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 earnings per share. As a group, equities analysts forecast that Yelp Inc will post 0.3 EPS for the current year.
Several research analysts recently issued reports on the company. Zacks Investment Research raised Yelp from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research note on Thursday, September 27th. Barclays increased their price objective on Yelp from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 9th. JPMorgan Chase & Co. increased their price objective on Yelp to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, August 9th. KeyCorp reissued a “hold” rating on shares of Yelp in a research note on Thursday, August 9th. Finally, Jefferies Financial Group increased their price objective on Yelp from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $42.89.
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Yelp Inc operates a platform that connects people with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.
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