Yelp Inc. (NYSE:YELP) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its holdings in Yelp Inc. (NYSE:YELP) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 85,943 shares of the local business review company’s stock after purchasing an additional 6,300 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Yelp were worth $4,069,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ronald Blue Trust Inc. lifted its position in shares of Yelp by 96.6% during the third quarter. Ronald Blue Trust Inc. now owns 755 shares of the local business review company’s stock worth $31,000 after purchasing an additional 371 shares during the last quarter. Dark Forest Capital Management LP raised its stake in Yelp by 83.6% during the first quarter. Dark Forest Capital Management LP now owns 1,166 shares of the local business review company’s stock valued at $36,000 after buying an additional 531 shares in the last quarter. Belpointe Asset Management LLC lifted its holdings in Yelp by 221.1% during the 1st quarter. Belpointe Asset Management LLC now owns 1,204 shares of the local business review company’s stock worth $37,000 after buying an additional 829 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Yelp by 4,634.6% in the 4th quarter. International Assets Investment Management LLC now owns 1,231 shares of the local business review company’s stock worth $58,000 after acquiring an additional 1,205 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Yelp by 65.6% in the 4th quarter. Blue Trust Inc. now owns 1,250 shares of the local business review company’s stock valued at $59,000 after acquiring an additional 495 shares during the last quarter. 90.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on YELP. Raymond James started coverage on Yelp in a research note on Wednesday, March 27th. They set a “market perform” rating on the stock. StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 24th. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Yelp currently has a consensus rating of “Hold” and an average price target of $41.75.

Yelp Stock Performance

Shares of YELP opened at $39.56 on Wednesday. Yelp Inc. has a 1 year low of $26.53 and a 1 year high of $48.99. The firm has a fifty day moving average of $39.46 and a 200-day moving average of $42.64. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 29.30 and a beta of 1.49.

Yelp (NYSE:YELP) last posted its earnings results on Thursday, February 15th. The local business review company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $342.38 million during the quarter, compared to analysts’ expectations of $341.83 million. Yelp had a net margin of 7.42% and a return on equity of 14.06%. Yelp’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. Analysts predict that Yelp Inc. will post 1.53 EPS for the current year.

Insider Activity at Yelp

In other Yelp news, COO Joseph R. Nachman sold 6,000 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $38.83, for a total transaction of $232,980.00. Following the completion of the transaction, the chief operating officer now owns 312,502 shares in the company, valued at approximately $12,134,452.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.20% of the stock is owned by insiders.

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 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.