107,228 Shares in Yelp Inc. (NYSE:YELP) Purchased by Bank of Montreal Can

Bank of Montreal Can bought a new position in shares of Yelp Inc. (NYSE:YELP) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 107,228 shares of the local business review company’s stock, valued at approximately $3,929,000. Bank of Montreal Can owned approximately 0.16% of Yelp as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Cim Investment Management Inc. increased its position in Yelp by 3.6% in the 1st quarter. Cim Investment Management Inc. now owns 9,679 shares of the local business review company’s stock valued at $297,000 after acquiring an additional 333 shares in the last quarter. Arizona State Retirement System increased its position in Yelp by 1.9% in the 1st quarter. Arizona State Retirement System now owns 20,196 shares of the local business review company’s stock valued at $620,000 after acquiring an additional 367 shares in the last quarter. Daiwa Securities Group Inc. increased its position in Yelp by 24.4% in the 1st quarter. Daiwa Securities Group Inc. now owns 2,506 shares of the local business review company’s stock valued at $77,000 after acquiring an additional 492 shares in the last quarter. Dark Forest Capital Management LP increased its position in Yelp by 83.6% in the 1st quarter. Dark Forest Capital Management LP now owns 1,166 shares of the local business review company’s stock valued at $36,000 after acquiring an additional 531 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in Yelp by 16.2% in the 1st quarter. Captrust Financial Advisors now owns 4,033 shares of the local business review company’s stock valued at $138,000 after acquiring an additional 563 shares in the last quarter. Institutional investors and hedge funds own 90.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on YELP shares. Jefferies Financial Group raised their target price on shares of Yelp from $32.00 to $39.00 and gave the company a “hold” rating in a research note on Tuesday, July 25th. Craig Hallum started coverage on shares of Yelp in a research note on Friday, July 28th. They issued a “buy” rating and a $54.00 target price on the stock. TheStreet raised shares of Yelp from a “c+” rating to a “b” rating in a research note on Thursday, August 3rd. StockNews.com started coverage on shares of Yelp in a research note on Thursday, October 5th. They issued a “strong-buy” rating on the stock. Finally, Morgan Stanley raised their target price on shares of Yelp from $30.00 to $32.00 and gave the company an “underweight” rating in a research note on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $41.33.

Insider Activity

In other news, insider Carmen Orr sold 12,468 shares of Yelp stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $43.25, for a total value of $539,241.00. Following the sale, the insider now directly owns 86,580 shares in the company, valued at $3,744,585. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Joseph R. Nachman sold 6,000 shares of Yelp stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $42.00, for a total value of $252,000.00. Following the sale, the chief operating officer now directly owns 291,232 shares in the company, valued at $12,231,744. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carmen Orr sold 12,468 shares of the business’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $43.25, for a total transaction of $539,241.00. Following the transaction, the insider now owns 86,580 shares in the company, valued at $3,744,585. The disclosure for this sale can be found here. Insiders have sold 58,718 shares of company stock worth $2,544,221 over the last ninety days. Insiders own 7.20% of the company’s stock.

Yelp Stock Performance

Shares of YELP opened at $44.73 on Monday. Yelp Inc. has a twelve month low of $25.30 and a twelve month high of $47.59. The firm’s 50 day moving average price is $42.64 and its two-hundred day moving average price is $38.69. The firm has a market cap of $3.07 billion, a P/E ratio of 35.50 and a beta of 1.43.

Yelp (NYSE:YELP) last posted its quarterly earnings data on Thursday, August 3rd. The local business review company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. Yelp had a net margin of 3.38% and a return on equity of 6.46%. The company had revenue of $337.13 million for the quarter, compared to the consensus estimate of $325.96 million. On average, sell-side analysts anticipate that Yelp Inc. will post 1.04 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 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.