Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Yelp Inc (NYSE:YELP) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 96,155 shares of the local business review company’s stock, valued at approximately $4,731,000. Mirae Asset Global Investments Co. Ltd. owned 0.11% of Yelp at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of YELP. BlackRock Inc. lifted its position in Yelp by 8.5% in the third quarter. BlackRock Inc. now owns 7,760,435 shares of the local business review company’s stock worth $381,814,000 after purchasing an additional 606,426 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its position in Yelp by 1.1% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 2,120,140 shares of the local business review company’s stock worth $104,310,000 after purchasing an additional 23,415 shares during the period. Victory Capital Management Inc. lifted its position in Yelp by 0.3% in the third quarter. Victory Capital Management Inc. now owns 1,131,550 shares of the local business review company’s stock worth $55,672,000 after purchasing an additional 3,785 shares during the period. Macquarie Group Ltd. lifted its position 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 during the period. Finally, Northern Trust Corp lifted its position in Yelp by 2.7% in the second quarter. Northern Trust Corp now owns 1,012,960 shares of the local business review company’s stock worth $39,688,000 after purchasing an additional 26,439 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.
NYSE YELP opened at $34.59 on Friday. The firm has a market capitalization of $2.80 billion, a price-to-earnings ratio of 494.14, a P/E/G ratio of 3.83 and a beta of 1.30. Yelp Inc has a 1 year low of $29.33 and a 1 year high of $52.50.
Yelp (NYSE:YELP) last posted its quarterly earnings results on Thursday, November 8th. The local business review company reported $0.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.09. The company had revenue of $241.10 million for the quarter, compared to analysts’ expectations of $245.55 million. Yelp had a return on equity of 1.34% and a net margin of 18.04%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.29 earnings per share. On average, equities research analysts forecast that Yelp Inc will post 0.37 EPS for the current fiscal year.
In other Yelp news, Director Geoffrey L. Donaker sold 2,000 shares of the business’s stock in a transaction on Tuesday, December 4th. The shares were sold at an average price of $34.76, for a total transaction of $69,520.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alan Ramsay sold 5,000 shares of the business’s stock in a transaction on Tuesday, November 13th. The shares were sold at an average price of $33.19, for a total transaction of $165,950.00. Following the sale, the insider now directly owns 35,234 shares in the company, valued at $1,169,416.46. The disclosure for this sale can be found here. Insiders sold 187,355 shares of company stock worth $8,218,951 in the last ninety days. 9.00% of the stock is owned by corporate insiders.
A number of equities research analysts have weighed in on the company. Royal Bank of Canada cut their target price on Yelp to $38.00 and set a “positive” rating for the company in a research report on Friday, November 9th. Wedbush downgraded Yelp from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $60.00 to $32.00 in a research report on Friday, November 9th. Zacks Investment Research upgraded Yelp from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Wednesday, August 15th. Wells Fargo & Co set a $34.00 target price on Yelp and gave the stock a “buy” rating in a research report on Friday, November 9th. Finally, ValuEngine downgraded Yelp from a “hold” rating to a “sell” rating in a research report on Saturday, November 10th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $42.10.
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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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