Mirae Asset Global Investments Co. Ltd. Purchases 288 Shares of Yelp Inc. (NYSE:YELP)

Mirae Asset Global Investments Co. Ltd. raised its position in Yelp Inc. (NYSE:YELP) by 0.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 86,231 shares of the local business review company’s stock after purchasing an additional 288 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.13% of Yelp worth $3,398,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. CastleKnight Management LP lifted its holdings in shares of Yelp by 126.7% during the 4th quarter. CastleKnight Management LP now owns 68,925 shares of the local business review company’s stock valued at $3,263,000 after purchasing an additional 38,525 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Yelp by 0.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,994,129 shares of the local business review company’s stock valued at $94,402,000 after buying an additional 13,790 shares in the last quarter. Meritage Portfolio Management boosted its holdings in shares of Yelp by 2.2% in the fourth quarter. Meritage Portfolio Management now owns 14,121 shares of the local business review company’s stock valued at $668,000 after buying an additional 308 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Yelp by 186.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 463,505 shares of the local business review company’s stock worth $21,942,000 after acquiring an additional 301,715 shares in the last quarter. Finally, Vinva Investment Management Ltd acquired a new stake in shares of Yelp during the fourth quarter worth $504,000. 90.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on YELP. Raymond James initiated coverage on Yelp in a report on Wednesday, March 27th. They issued a “market perform” rating on the stock. Robert W. Baird decreased their price target on shares of Yelp from $44.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, May 10th. Finally, Craig Hallum cut their price objective on shares of Yelp from $55.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Yelp presently has a consensus rating of “Hold” and an average price target of $40.67.

Insiders Place Their Bets

In other news, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction on Friday, July 5th. The stock was sold at an average price of $36.24, for a total value of $253,680.00. Following the transaction, the chief operating officer now owns 288,842 shares in the company, valued at approximately $10,467,634.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $36.24, for a total transaction of $253,680.00. Following the sale, the chief operating officer now directly owns 288,842 shares of the company’s stock, valued at approximately $10,467,634.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David A. Schwarzbach sold 2,750 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $40.63, for a total transaction of $111,732.50. Following the completion of the sale, the chief financial officer now owns 258,848 shares in the company, valued at approximately $10,516,994.24. The disclosure for this sale can be found here. Insiders sold 56,818 shares of company stock worth $2,109,323 over the last three months. Insiders own 7.40% of the company’s stock.

Yelp Price Performance

Shares of NYSE YELP opened at $35.77 on Friday. The stock has a market capitalization of $2.41 billion, a PE ratio of 22.78 and a beta of 1.33. Yelp Inc. has a fifty-two week low of $34.76 and a fifty-two week high of $48.99. The business has a fifty day moving average price of $36.91 and a two-hundred day moving average price of $39.90.

Yelp (NYSE:YELP) last announced its quarterly earnings data on Thursday, May 9th. The local business review company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.16. The firm had revenue of $332.75 million for the quarter, compared to the consensus estimate of $333.66 million. Yelp had a net margin of 8.44% and a return on equity of 15.69%. On average, equities analysts expect that Yelp Inc. will post 1.39 EPS for the current year.

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.