MQS Management LLC Buys New Position in Yelp Inc. (NYSE:YELP)

MQS Management LLC purchased a new stake in Yelp Inc. (NYSE:YELP) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,064 shares of the local business review company’s stock, valued at approximately $318,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Fifth Third Bancorp boosted its position in shares of Yelp by 262.8% during the second quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock valued at $25,000 after purchasing an additional 481 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Yelp in the second quarter worth $25,000. GAMMA Investing LLC lifted its position in Yelp by 115.9% during the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock valued at $34,000 after buying an additional 524 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Yelp by 54.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock valued at $40,000 after buying an additional 405 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Yelp by 98.5% in the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock worth $41,000 after buying an additional 583 shares during the period. 90.11% of the stock is owned by hedge funds and other institutional investors.

Yelp Price Performance

Shares of NYSE:YELP opened at $36.43 on Friday. Yelp Inc. has a 1 year low of $32.56 and a 1 year high of $48.99. The company has a market cap of $2.44 billion, a P/E ratio of 21.81, a PEG ratio of 0.68 and a beta of 1.33. The stock’s fifty day moving average price is $34.54 and its 200-day moving average price is $35.68.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on YELP shares. Bank of America initiated coverage on shares of Yelp in a research note on Monday, September 16th. They set an “underperform” rating and a $30.00 price objective on the stock. JPMorgan Chase & Co. cut their price target on Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. The Goldman Sachs Group cut Yelp from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $46.00 to $38.00 in a research note on Monday, October 14th. Robert W. Baird cut their target price on Yelp from $39.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, November 8th. Finally, Evercore ISI raised Yelp to a “hold” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $37.00.

Insider Buying and Selling at Yelp

In related news, CTO Sam Eaton sold 10,776 shares of the company’s stock in a transaction 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 sale, the chief technology officer now owns 145,171 shares in the company, valued at approximately $5,080,985. This represents a 6.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carmen Amara sold 12,854 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $38.17, for a total value of $490,637.18. Following the completion of the transaction, the insider now directly owns 88,813 shares in the company, valued at $3,389,992.21. The trade was a 12.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,630 shares of company stock worth $1,105,937. Company insiders own 7.40% of the company’s stock.

Yelp 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.