Jupiter Asset Management Ltd. Reduces Stake in Yelp Inc. (NYSE:YELP)

Jupiter Asset Management Ltd. reduced its position in Yelp Inc. (NYSE:YELP) by 22.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 263,423 shares of the local business review company’s stock after selling 78,344 shares during the period. Jupiter Asset Management Ltd.’s holdings in Yelp were worth $10,271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in YELP. Neo Ivy Capital Management purchased a new position in Yelp during the fourth quarter valued at $28,000. Vantage Consulting Group Inc purchased a new position in Yelp during the fourth quarter valued at $29,000. Meeder Asset Management Inc. lifted its position in Yelp by 531.6% during the first quarter. Meeder Asset Management Inc. now owns 1,200 shares of the local business review company’s stock valued at $48,000 after purchasing an additional 1,010 shares in the last quarter. US Bancorp DE lifted its position in Yelp by 32.1% during the first quarter. US Bancorp DE now owns 1,317 shares of the local business review company’s stock valued at $52,000 after purchasing an additional 320 shares in the last quarter. Finally, First Quadrant L P CA lifted its position in Yelp by 25.3% during the first quarter. First Quadrant L P CA now owns 1,519 shares of the local business review company’s stock valued at $59,000 after purchasing an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 84.71% of the company’s stock.

In other Yelp news, CTO Sam Eaton sold 3,340 shares of the business’s stock in a transaction that occurred on Monday, March 22nd. The stock was sold at an average price of $41.50, for a total transaction of $138,610.00. Following the sale, the chief technology officer now directly owns 145,519 shares of the company’s stock, valued at $6,039,038.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Laurence Wilson sold 2,314 shares of the business’s stock in a transaction that occurred on Monday, May 24th. The shares were sold at an average price of $38.04, for a total value of $88,024.56. Following the transaction, the insider now owns 180,343 shares of the company’s stock, valued at approximately $6,860,247.72. The disclosure for this sale can be found here. Insiders have sold 34,229 shares of company stock worth $1,348,620 over the last three months. 8.70% of the stock is currently owned by insiders.

YELP has been the topic of several analyst reports. Citigroup upgraded Yelp from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 30th. Deutsche Bank Aktiengesellschaft boosted their price objective on Yelp from $40.00 to $43.00 and gave the company a “hold” rating in a research report on Friday, May 7th. Morgan Stanley boosted their price objective on Yelp from $26.00 to $32.00 and gave the company an “underweight” rating in a research report on Thursday, March 25th. TheStreet upgraded Yelp from a “d+” rating to a “c-” rating in a research report on Thursday, February 11th. Finally, BMO Capital Markets boosted their price objective on Yelp from $34.00 to $39.00 and gave the company a “market perform” rating in a research report on Tuesday, May 11th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Yelp currently has a consensus rating of “Hold” and an average price target of $35.05.

Shares of NYSE YELP opened at $39.46 on Friday. The stock’s 50 day moving average is $39.54. Yelp Inc. has a 1-year low of $18.67 and a 1-year high of $43.86. The company has a market capitalization of $2.94 billion, a PE ratio of -263.05 and a beta of 1.85.

Yelp (NYSE:YELP) last issued its quarterly earnings data on Thursday, May 6th. The local business review company reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.18. Yelp had a negative return on equity of 1.19% and a negative net margin of 1.14%. The company had revenue of $232.10 million for the quarter, compared to analysts’ expectations of $228.40 million. During the same period in the previous year, the firm posted ($0.22) earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. As a group, research analysts expect that Yelp Inc. will post -0.09 EPS for the current fiscal year.

About Yelp

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, health, and other categories, as well as home, local, auto, professional, pets, events, real estate, and financial services.

Further Reading: Real Estate Investment Trust (REIT) ETF

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Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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