Jupiter Asset Management Ltd. Has $18.74 Million Position in Yelp Inc. (NYSE:YELP)

Jupiter Asset Management Ltd. cut its stake in Yelp Inc. (NYSE:YELP) by 24.7% during the second quarter, HoldingsChannel reports. The fund owned 507,059 shares of the local business review company’s stock after selling 166,520 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in Yelp were worth $18,736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of YELP. Fidelis Capital Partners LLC purchased a new position in Yelp in the first quarter valued at about $25,000. Fifth Third Bancorp grew its stake in shares of Yelp by 262.8% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock valued at $25,000 after buying an additional 481 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Yelp in the fourth quarter worth approximately $27,000. Headlands Technologies LLC bought a new position in Yelp during the first quarter valued at approximately $70,000. Finally, CWM LLC raised its position in Yelp by 24.7% during the second quarter. CWM LLC now owns 1,903 shares of the local business review company’s stock valued at $70,000 after acquiring an additional 377 shares in the last quarter. 90.11% of the stock is currently owned by hedge funds and other institutional investors.

Yelp Trading Up 1.4 %

NYSE:YELP opened at $33.69 on Friday. The firm has a market capitalization of $2.25 billion, a PE ratio of 21.46 and a beta of 1.33. Yelp Inc. has a 1 year low of $32.56 and a 1 year high of $48.99. The firm’s fifty day simple moving average is $35.01 and its 200 day simple moving average is $37.05.

Yelp (NYSE:YELP) last issued its quarterly earnings results on Thursday, August 8th. The local business review company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.27. The company had revenue of $357.00 million for the quarter, compared to the consensus estimate of $352.98 million. Yelp had a return on equity of 18.71% and a net margin of 10.01%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. As a group, analysts anticipate that Yelp Inc. will post 1.65 EPS for the current fiscal year.

Insider Buying and Selling at Yelp

In other news, CTO Sam Eaton sold 10,776 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $35.00, for a total transaction of $377,160.00. Following the completion of the transaction, the chief technology officer now directly owns 145,171 shares in the company, valued at $5,080,985. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, COO Joseph R. Nachman sold 7,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $33.25, for a total value of $232,750.00. Following the completion of the sale, the chief operating officer now owns 281,842 shares in the company, valued at $9,371,246.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Sam Eaton sold 10,776 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $35.00, for a total value of $377,160.00. Following the transaction, the chief technology officer now owns 145,171 shares in the company, valued at $5,080,985. The disclosure for this sale can be found here. Insiders have sold 24,776 shares of company stock valued at $863,590 in the last 90 days. 7.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

YELP has been the topic of several analyst reports. Wolfe Research started coverage on shares of Yelp in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Morgan Stanley raised their target price on Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Finally, StockNews.com downgraded Yelp from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Yelp presently has a consensus rating of “Hold” and an average price target of $39.00.

Yelp Company Profile

Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various 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.