Convergence Investment Partners LLC Acquires New Shares in Yelp Inc (NYSE:YELP)

Convergence Investment Partners LLC acquired a new stake in shares of Yelp Inc (NYSE:YELP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 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 shares of Yelp during the second quarter valued at $27,000. Nisa Investment Advisors LLC boosted its position in shares of Yelp by 40.3% during 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. boosted its position in shares of Yelp by 61.5% during 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 boosted its position in shares of Yelp by 806.3% during 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 shares of Yelp during the second quarter valued at $88,000. 91.67% of the stock is currently owned by institutional investors.

Several equities research analysts recently commented on the company. SunTrust Banks dropped their price objective on Yelp from $37.00 to $22.00 and set a “hold” rating on the stock in a research report on Thursday, April 9th. Needham & Company LLC reissued a “hold” rating on shares of Yelp in a research report on Friday, May 8th. BMO Capital Markets cut Yelp from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $33.00 to $26.00 in a research report on Monday, May 11th. BTIG Research started coverage on Yelp in a research report on Wednesday, June 10th. They issued a “neutral” rating on the stock. Finally, Citigroup raised their target price on Yelp from $21.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 10th. Three 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 has a consensus rating of “Hold” and a consensus target price of $28.13.

In related news, COO Joseph R. Nachman sold 2,635 shares of the business’s 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 transaction, the chief operating officer now directly owns 146,890 shares of the company’s stock, valued at approximately $3,056,780.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Laurence Wilson sold 1,819 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $23.10, for a total value of $42,018.90. Following the completion of the transaction, the insider now directly owns 175,892 shares in the company, valued at $4,063,105.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,126 shares of company stock worth $215,751. 9.50% of the stock is owned by insiders.

Shares of NYSE:YELP traded down $0.01 during mid-day trading on Friday, reaching $24.98. 1,018,288 shares of the company traded hands, compared to its average volume of 779,588. The company’s 50 day moving average price is $23.36 and its 200-day moving average price is $25.35. The firm has a market cap of $1.80 billion, a PE ratio of 78.06 and a beta of 1.48. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.23 and a quick ratio of 4.23. Yelp Inc has a 52 week low of $12.89 and a 52 week high of $39.37.

Yelp (NYSE:YELP) last announced its quarterly earnings data on Thursday, May 7th. The local business review company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $249.00 million for the quarter, compared to the consensus estimate of $226.38 million. During the same quarter last year, the firm posted $0.02 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. On average, research analysts predict that Yelp Inc will post -0.81 earnings per share for the current fiscal year.

Yelp Company 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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