Teacher Retirement System of Texas boosted its position in Yelp Inc. (NYSE:YELP) by 16.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,459 shares of the local business review company’s stock after buying an additional 1,367 shares during the period. Teacher Retirement System of Texas’ holdings in Yelp were worth $287,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of YELP. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Yelp during the first quarter valued at about $539,000. TIAA CREF Investment Management LLC raised its stake in shares of Yelp by 1.7% in the first quarter. TIAA CREF Investment Management LLC now owns 195,107 shares of the local business review company’s stock worth $3,879,000 after buying an additional 3,310 shares in the last quarter. BlackRock Inc. raised its stake in shares of Yelp by 10.0% in the first quarter. BlackRock Inc. now owns 78,658 shares of the local business review company’s stock worth $1,564,000 after buying an additional 7,175 shares in the last quarter. BlackRock Group LTD raised its stake in shares of Yelp by 0.4% in the first quarter. BlackRock Group LTD now owns 179,547 shares of the local business review company’s stock worth $3,569,000 after buying an additional 654 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Yelp during the first quarter worth $475,000. Hedge funds and other institutional investors own 74.90% of the company’s stock.
Yelp Inc. (NYSE:YELP) opened at 36.50 on Friday. Yelp Inc. has a 12 month low of $14.53 and a 12 month high of $43.36. The stock’s 50 day moving average is $39.18 and its 200 day moving average is $30.23. The company’s market cap is $2.82 billion.
Yelp (NYSE:YELP) last released its earnings results on Tuesday, August 9th. The local business review company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.08. Yelp had a negative net margin of 7.20% and a negative return on equity of 6.14%. The company earned $173.40 million during the quarter, compared to the consensus estimate of $169.82 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The company’s revenue was up 29.5% compared to the same quarter last year. Equities analysts predict that Yelp Inc. will post ($0.19) earnings per share for the current year.
A number of equities research analysts have weighed in on the company. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Yelp in a report on Saturday, July 9th. Vetr raised Yelp from a “buy” rating to a “strong-buy” rating and set a $43.15 price objective on the stock in a report on Monday. B. Riley reaffirmed a “neutral” rating and issued a $27.00 price objective on shares of Yelp in a report on Monday, August 15th. Jefferies Group reaffirmed a “buy” rating on shares of Yelp in a report on Monday, July 11th. Finally, Axiom Securities raised Yelp from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a report on Wednesday, August 10th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Yelp currently has a consensus rating of “Hold” and a consensus price target of $36.03.
In other news, COO Joseph R. Nachman sold 5,000 shares of the firm’s stock in a transaction on Monday, October 10th. The shares were sold at an average price of $41.06, for a total transaction of $205,300.00. Following the transaction, the chief operating officer now owns 122,023 shares in the company, valued at approximately $5,010,264.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction on Tuesday, October 11th. The shares were sold at an average price of $40.64, for a total transaction of $243,840.00. Following the transaction, the director now owns 6,000 shares in the company, valued at approximately $243,840. The disclosure for this sale can be found here. 11.08% of the stock is currently owned by company insiders.
Yelp Company Profile
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 provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.
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