Goodnow Investment Group LLC Sells 72,570 Shares of Yelp Inc. $YELP

Goodnow Investment Group LLC lowered its stake in Yelp Inc. (NYSE:YELP) by 10.2% during the fourth quarter, Holdings Channel reports. The firm owned 637,180 shares of the local business review company’s stock after selling 72,570 shares during the period. Yelp makes up approximately 1.8% of Goodnow Investment Group LLC’s investment portfolio, making the stock its 16th biggest position. Goodnow Investment Group LLC’s holdings in Yelp were worth $19,364,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. CIBC Private Wealth Group LLC increased its position in shares of Yelp by 100.0% in the third quarter. CIBC Private Wealth Group LLC now owns 892 shares of the local business review company’s stock worth $28,000 after purchasing an additional 446 shares during the period. Fifth Third Bancorp boosted its stake in Yelp by 70.4% in the fourth quarter. Fifth Third Bancorp now owns 1,159 shares of the local business review company’s stock valued at $35,000 after buying an additional 479 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Yelp by 181.3% in the fourth quarter. Hantz Financial Services Inc. now owns 1,297 shares of the local business review company’s stock valued at $39,000 after buying an additional 836 shares in the last quarter. Strs Ohio acquired a new stake in Yelp in the first quarter valued at about $56,000. Finally, Hudson Bay Capital Management LP acquired a new stake in Yelp in the third quarter valued at about $55,000. Institutional investors own 90.11% of the company’s stock.

Yelp Stock Performance

Shares of YELP stock opened at $22.51 on Tuesday. The business’s 50-day moving average price is $25.02 and its 200-day moving average price is $26.11. Yelp Inc. has a 12 month low of $19.60 and a 12 month high of $35.99. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 2.48 and a beta of 0.47. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.21.

Yelp (NYSE:YELP) last announced its quarterly earnings results on Thursday, May 7th. The local business review company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Yelp had a return on equity of 20.19% and a net margin of 9.47%.The firm had revenue of $361.46 million for the quarter, compared to analyst estimates of $353.47 million. During the same period last year, the firm posted $0.36 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts forecast that Yelp Inc. will post 1.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Yelp from $22.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Yelp in a research note on Monday, May 11th. Zacks Research raised Yelp from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 14th. Morgan Stanley reduced their price objective on Yelp from $28.00 to $24.00 and set an “underweight” rating on the stock in a research note on Friday, May 15th. Finally, The Goldman Sachs Group reduced their price objective on Yelp from $33.00 to $25.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 17th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Yelp has an average rating of “Reduce” and a consensus price target of $27.88.

Insider Activity

In other news, Director Christine Barone sold 15,507 shares of Yelp stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $22.95, for a total transaction of $355,885.65. Following the sale, the director directly owned 15,928 shares of the company’s stock, valued at approximately $365,547.60. This trade represents a 49.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Craig Saldanha sold 1,200 shares of Yelp stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $24.72, for a total value of $29,664.00. Following the sale, the insider directly owned 267,835 shares in the company, valued at $6,620,881.20. The trade was a 0.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 33,707 shares of company stock valued at $819,145. 8.30% of the stock is currently owned by corporate insiders.

Yelp Company Profile

Yelp is a digital platform that connects consumers with local businesses through user-generated reviews, ratings and multimedia content. The company’s flagship offerings include the Yelp website and mobile applications for iOS and Android, where users can search for and discover restaurants, shops, service providers and other points of interest. In addition to crowd-sourced reviews and photographs, Yelp provides business profile pages featuring hours, contact information, menus and direct messaging capabilities.

Yelp generates revenue primarily through advertising services sold to small and medium-sized enterprises.