Convergence Investment Partners LLC Purchases Shares of 34,248 Yelp Inc (NYSE:YELP)

Convergence Investment Partners LLC purchased a new stake in Yelp Inc (NYSE:YELP) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 34,248 shares of the local business review company’s stock, valued at approximately $792,000.

Other institutional investors have also added to or reduced their stakes in the company. Price Wealth LLC purchased a new stake in Yelp in the second quarter valued at about $27,000. Nisa Investment Advisors LLC raised its stake in Yelp by 40.3% in the first quarter. Nisa Investment Advisors LLC now owns 1,810 shares of the local business review company’s stock valued at $33,000 after buying an additional 520 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its stake in Yelp by 61.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,279 shares of the local business review company’s stock valued at $79,000 after buying an additional 868 shares during the last quarter. Sowell Financial Services LLC raised its stake in Yelp by 806.3% in the first quarter. Sowell Financial Services LLC now owns 2,284 shares of the local business review company’s stock valued at $41,000 after buying an additional 2,032 shares during the last quarter. Finally, First Quadrant L P CA purchased a new stake in Yelp in the second quarter valued at about $88,000. Institutional investors own 91.67% of the company’s stock.

Yelp stock traded down $0.01 during midday trading on Friday, hitting $24.98. 1,018,288 shares of the company were exchanged, compared to its average volume of 779,588. The firm has a market capitalization of $1.80 billion, a PE ratio of 78.06 and a beta of 1.48. Yelp Inc has a fifty-two week low of $12.89 and a fifty-two week high of $39.37. The business has a fifty day simple moving average of $23.36 and a two-hundred day simple moving average of $25.35. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.23 and a current ratio of 4.23.

Yelp (NYSE:YELP) last issued its quarterly earnings data on Thursday, May 7th. The local business review company reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.13). Yelp had a net margin of 2.34% and a return on equity of 3.24%. The business had revenue of $249.00 million during the quarter, compared to analyst estimates of $226.38 million. During the same period in the previous year, the business posted $0.02 earnings per share. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, equities analysts expect that Yelp Inc will post -0.81 earnings per share for the current year.

A number of research firms have commented on YELP. Royal Bank of Canada reiterated a “hold” rating and issued a $21.00 price target on shares of Yelp in a research note on Monday, July 20th. Citigroup raised their price objective on Yelp from $21.00 to $26.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 10th. BMO Capital Markets cut Yelp from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $33.00 to $26.00 in a research note on Monday, May 11th. Credit Suisse Group reduced their price objective on Yelp from $44.00 to $34.00 and set an “outperform” rating for the company in a research note on Friday, May 8th. Finally, SunTrust Banks reduced their price objective on Yelp from $37.00 to $22.00 and set a “hold” rating for the company in a research note on Thursday, April 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $28.13.

In other news, COO Joseph R. Nachman sold 2,635 shares of Yelp stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $20.81, for a total value of $54,834.35. Following the sale, the chief operating officer now directly owns 146,890 shares of the company’s stock, valued at $3,056,780.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vivek Patel sold 3,772 shares of Yelp stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $20.81, for a total value of $78,495.32. Following the completion of the sale, the insider now directly owns 131,244 shares in the company, valued at $2,731,187.64. The disclosure for this sale can be found here. Insiders sold 10,126 shares of company stock worth $215,751 over the last ninety days. Corporate insiders own 9.50% of the company’s stock.

Yelp Profile

Yelp Inc operates a platform that connects consumers 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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Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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