State Board of Administration of Florida Retirement System Acquires 3,400 Shares of Yelp Inc (YELP)

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State Board of Administration of Florida Retirement System grew its holdings in Yelp Inc (NYSE:YELP) by 7.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,102 shares of the local business review company’s stock after buying an additional 3,400 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Yelp were worth $2,002,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of YELP. Sciencast Management LP acquired a new stake in Yelp during the first quarter worth about $230,000. S. R. Schill & Associates acquired a new stake in Yelp during the first quarter worth about $333,000. Lido Advisors LLC acquired a new stake in Yelp during the first quarter worth about $358,000. Mackay Shields LLC acquired a new stake in Yelp during the first quarter worth about $359,000. Finally, Gargoyle Investment Advisor L.L.C. acquired a new stake in Yelp during the first quarter worth about $406,000. Institutional investors and hedge funds own 95.25% of the company’s stock.

Shares of YELP opened at $46.99 on Thursday. Yelp Inc has a 1-year low of $36.42 and a 1-year high of $51.33. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 671.29, a P/E/G ratio of 8.42 and a beta of 0.96.

Yelp (NYSE:YELP) last announced its quarterly earnings results on Wednesday, August 8th. The local business review company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.14. Yelp had a net margin of 17.64% and a return on equity of 0.74%. The business had revenue of $234.90 million during the quarter, compared to analysts’ expectations of $232.26 million. During the same period last year, the business earned $0.25 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. equities research analysts anticipate that Yelp Inc will post 0.28 EPS for the current year.

In other Yelp news, Director Geoffrey L. Donaker sold 6,000 shares of Yelp stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $43.49, for a total transaction of $260,940.00. Following the completion of the sale, the director now directly owns 10,055 shares in the company, valued at $437,291.95. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Joseph R. Nachman sold 16,303 shares of Yelp stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $50.00, for a total transaction of $815,150.00. Following the sale, the chief operating officer now owns 131,734 shares of the company’s stock, valued at $6,586,700. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 217,803 shares of company stock valued at $9,322,085. Company insiders own 9.00% of the company’s stock.

Several equities research analysts recently issued reports on the stock. Barclays raised their price objective on shares of Yelp from $47.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 9th. JPMorgan Chase & Co. raised their price objective on shares of Yelp to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, August 9th. KeyCorp restated a “hold” rating on shares of Yelp in a research report on Thursday, August 9th. Jefferies Financial Group raised their price objective on shares of Yelp from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Finally, Robert W. Baird raised their price objective on shares of Yelp from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, August 9th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the stock. Yelp currently has an average rating of “Hold” and a consensus target price of $48.13.

About Yelp

Yelp Inc operates a platform that connects people with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.

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Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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