Sanctuary Advisors LLC Acquires 1,427 Shares of Yelp Inc. (NYSE:YELP)

Sanctuary Advisors LLC raised its holdings in Yelp Inc. (NYSE:YELP) by 11.7% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,648 shares of the local business review company’s stock after acquiring an additional 1,427 shares during the quarter. Sanctuary Advisors LLC’s holdings in Yelp were worth $493,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Meeder Asset Management Inc. bought a new position in shares of Yelp in the second quarter worth about $25,000. Fifth Third Bancorp grew its stake in Yelp by 262.8% in the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock worth $25,000 after acquiring an additional 481 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Yelp by 115.9% during the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock worth $34,000 after acquiring an additional 524 shares during the period. Exchange Traded Concepts LLC raised its stake in shares of Yelp by 54.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock valued at $40,000 after acquiring an additional 405 shares in the last quarter. Finally, Signaturefd LLC boosted its holdings in shares of Yelp by 98.5% in the third quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock valued at $41,000 after purchasing an additional 583 shares during the period. Hedge funds and other institutional investors own 90.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. Bank of America initiated coverage on Yelp in a report on Monday, September 16th. They issued an “underperform” rating and a $30.00 price objective for the company. The Goldman Sachs Group cut shares of Yelp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $46.00 to $38.00 in a report on Monday, October 14th. Evercore ISI raised shares of Yelp to a “hold” rating in a research report on Monday, November 11th. Finally, Robert W. Baird lowered their price target on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.00.

Yelp Stock Up 1.1 %

NYSE YELP opened at $38.97 on Thursday. Yelp Inc. has a 52 week low of $32.56 and a 52 week high of $48.63. The company has a 50 day moving average price of $36.88 and a 200 day moving average price of $35.73. The firm has a market cap of $2.56 billion, a PE ratio of 23.34, a price-to-earnings-growth ratio of 0.71 and a beta of 1.35.

Insiders Place Their Bets

In related news, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $34.02, for a total value of $238,140.00. Following the completion of the sale, the chief operating officer now directly owns 255,558 shares in the company, valued at $8,694,083.16. This trade represents a 2.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David A. Schwarzbach sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.72, for a total transaction of $397,200.00. Following the transaction, the chief financial officer now owns 201,988 shares in the company, valued at $8,022,963.36. The trade was a 4.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,865 shares of company stock valued at $1,934,418. 7.40% of the stock is currently 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.