Meeder Asset Management Inc. decreased its holdings in Yelp Inc. (NYSE:YELP – Free Report) by 76.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,974 shares of the local business review company’s stock after selling 54,222 shares during the quarter. Meeder Asset Management Inc.’s holdings in Yelp were worth $420,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its stake in shares of Yelp by 100.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 892 shares of the local business review company’s stock worth $28,000 after acquiring an additional 446 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of Yelp by 70.4% in the 4th quarter. Fifth Third Bancorp now owns 1,159 shares of the local business review company’s stock worth $35,000 after acquiring an additional 479 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Yelp by 71.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,158 shares of the local business review company’s stock worth $35,000 after purchasing an additional 482 shares during the period. Hantz Financial Services Inc. raised its position in shares of Yelp by 181.3% during the fourth quarter. Hantz Financial Services Inc. now owns 1,297 shares of the local business review company’s stock worth $39,000 after purchasing an additional 836 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Yelp during the third quarter valued at $55,000. Institutional investors own 90.11% of the company’s stock.
Yelp Price Performance
YELP opened at $25.77 on Wednesday. The firm has a market capitalization of $1.42 billion, a P/E ratio of 11.76, a PEG ratio of 2.82 and a beta of 0.46. The stock has a fifty day moving average of $23.93 and a 200-day moving average of $25.18. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.21. Yelp Inc. has a 12-month low of $19.60 and a 12-month high of $35.39.
Analysts Set New Price Targets
A number of research firms recently weighed in on YELP. Evercore set a $30.00 price target on Yelp in a research report on Monday, May 11th. Weiss Ratings restated a “sell (d+)” rating on shares of Yelp in a report on Monday, May 11th. Zacks Research raised shares of Yelp from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 14th. Morgan Stanley decreased their target price on shares of Yelp from $28.00 to $24.00 and set an “underweight” rating for the company in a report on Friday, May 15th. Finally, Robert W. Baird set a $28.00 target price on shares of Yelp in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $27.88.
Read Our Latest Stock Analysis on YELP
Insider Buying and Selling
In other Yelp news, Director Christine Barone sold 15,507 shares of the firm’s 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 completion of the sale, the director directly owned 15,928 shares in the company, valued at approximately $365,547.60. This trade represents a 49.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 17,507 shares of company stock worth $402,481. Company insiders own 8.30% of the company’s stock.
About Yelp
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.
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