Yelp Inc. (NYSE:YELP) Director Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, October 17th. The stock was sold at an average price of $43.36, for a total transaction of $260,160.00. Following the completion of the transaction, the director now directly owns 9,590 shares in the company, valued at $415,822.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Yelp Inc. (NYSE:YELP) traded up 0.41% during mid-day trading on Friday, hitting $44.62. 267,591 shares of the stock traded hands. The stock has a 50-day moving average of $43.81 and a 200 day moving average of $35.87. The stock has a market cap of $3.65 billion, a PE ratio of 282.41 and a beta of 1.34. Yelp Inc. has a one year low of $26.93 and a one year high of $46.76.
Yelp (NYSE:YELP) last released its quarterly earnings results on Thursday, August 3rd. The local business review company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.12. Yelp had a net margin of 1.67% and a return on equity of 1.60%. The business had revenue of $209.90 million during the quarter, compared to the consensus estimate of $204.89 million. During the same quarter last year, the company earned $0.16 earnings per share. The business’s quarterly revenue was up 21.0% compared to the same quarter last year. Equities analysts predict that Yelp Inc. will post $0.07 EPS for the current fiscal year.
Yelp declared that its Board of Directors has initiated a stock buyback program on Thursday, August 3rd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the local business review company to purchase up to 7.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
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A number of institutional investors and hedge funds have recently made changes to their positions in YELP. Bank of New York Mellon Corp lifted its stake in Yelp by 4.1% during the first quarter. Bank of New York Mellon Corp now owns 235,974 shares of the local business review company’s stock worth $7,727,000 after purchasing an additional 9,350 shares during the last quarter. UBS Asset Management Americas Inc. lifted its stake in Yelp by 46.0% during the first quarter. UBS Asset Management Americas Inc. now owns 53,227 shares of the local business review company’s stock worth $1,743,000 after purchasing an additional 16,766 shares during the last quarter. Karp Capital Management Corp bought a new position in Yelp during the first quarter worth $290,000. Ameriprise Financial Inc. bought a new position in Yelp during the first quarter worth $6,218,000. Finally, Cornerstone Capital Management Holdings LLC. bought a new position in Yelp during the first quarter worth $659,000. Hedge funds and other institutional investors own 90.85% of the company’s stock.
Several research firms recently issued reports on YELP. Credit Suisse Group restated an “outperform” rating and set a $48.00 price objective (up from $40.00) on shares of Yelp in a research report on Wednesday. KeyCorp restated a “buy” rating and set a $54.00 price objective on shares of Yelp in a research report on Tuesday. BidaskClub cut shares of Yelp from a “buy” rating to a “hold” rating in a research report on Friday, October 13th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $42.00 price objective on shares of Yelp in a research report on Wednesday, October 11th. Finally, B. Riley restated a “hold” rating and set a $36.00 price objective on shares of Yelp in a research report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, twenty have given a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $40.81.
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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