The Quantitative Systematic Strategies LLC decides to keep it stake in Yelp Inc. (YELP) to the level of $809,000

The Quantitative Systematic Strategies LLC decides to keep it stake in Yelp Inc. (YELP) to the level of $809,000

Quantitative Systematic Strategies LLC cut its position in Yelp Inc. (NYSE:YELP) by 26.2% during the second quarter, Holdings Channel reports. The firm owned 27,722 shares of the local business review company’s stock after selling 9,838 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Yelp were worth $809,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Public Employees Retirement Association of Colorado raised its stake in shares of Yelp by 0.6% in the second quarter. Public Employees Retirement Association of Colorado now owns 17,632 shares of the local business review company’s stock worth $535,000 after buying an additional 101 shares during the period. BlackRock Group LTD raised its stake in shares of Yelp by 0.4% in the first quarter. BlackRock Group LTD now owns 179,547 shares of the local business review company’s stock worth $3,569,000 after buying an additional 654 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of Yelp by 1.7% in the first quarter. TIAA CREF Investment Management LLC now owns 195,107 shares of the local business review company’s stock worth $3,879,000 after buying an additional 3,310 shares during the period. Royal Bank of Canada raised its stake in shares of Yelp by 0.6% in the first quarter. Royal Bank of Canada now owns 651,922 shares of the local business review company’s stock worth $12,960,000 after buying an additional 3,570 shares during the period. Finally, IBM Retirement Fund bought a new stake in shares of Yelp during the second quarter worth about $209,000. Institutional investors and hedge funds own 74.90% of the company’s stock.

Shares of Yelp Inc. (NYSE:YELP) traded down 0.71% on Wednesday, reaching $39.19. The company had a trading volume of 547,881 shares. The company’s 50-day moving average price is $39.15 and its 200-day moving average price is $29.99. The firm’s market capitalization is $3.03 billion. Yelp Inc. has a 52-week low of $14.53 and a 52-week high of $43.36.

Yelp (NYSE:YELP) last announced its earnings results on Tuesday, August 9th. The local business review company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.08. Yelp had a negative return on equity of 6.14% and a negative net margin of 7.20%. The business had revenue of $173.40 million for the quarter, compared to analyst estimates of $169.82 million. During the same quarter last year, the firm earned $0.12 EPS. Yelp’s revenue for the quarter was up 29.5% compared to the same quarter last year. On average, analysts predict that Yelp Inc. will post ($0.19) earnings per share for the current year.

A number of analysts recently issued reports on the stock. Cantor Fitzgerald restated a “buy” rating on shares of Yelp in a research note on Saturday, July 9th. B. Riley reiterated a “neutral” rating and set a $27.00 target price on shares of Yelp in a research note on Wednesday, August 10th. Zacks Investment Research lowered shares of Yelp from a “buy” rating to a “hold” rating in a research note on Wednesday. Wedbush boosted their target price on shares of Yelp from $30.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, August 10th. Finally, Morgan Stanley boosted their target price on shares of Yelp from $19.00 to $26.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 9th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $36.03.

In other Yelp news, COO Geoffrey L. Donaker sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $28.99, for a total transaction of $173,940.00. Following the transaction, the chief operating officer now owns 6,000 shares of the company’s stock, valued at approximately $173,940. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Laurence Wilson sold 22,500 shares of the business’s stock in a transaction that occurred on Wednesday, October 5th. The stock was sold at an average price of $42.22, for a total value of $949,950.00. Following the transaction, the senior vice president now directly owns 183,951 shares in the company, valued at approximately $7,766,411.22. The disclosure for this sale can be found here. 11.08% of the stock is owned by corporate insiders.

About Yelp

Yelp Inc (Yelp) connects people with local businesses by bringing word of mouth online and providing a platform for businesses and consumers to engage and transact. The Company provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.

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