Sei Investments Co. Raises Stock Position in Yelp Inc. (NYSE:YELP)

Sei Investments Co. lifted its stake in Yelp Inc. (NYSE:YELP) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 221,288 shares of the local business review company’s stock after buying an additional 1,889 shares during the period. Sei Investments Co. owned approximately 0.33% of Yelp worth $8,177,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of YELP. Quest Partners LLC increased its position in shares of Yelp by 132.7% during the second quarter. Quest Partners LLC now owns 27,094 shares of the local business review company’s stock worth $1,001,000 after purchasing an additional 15,451 shares in the last quarter. UniSuper Management Pty Ltd purchased a new stake in Yelp in the first quarter valued at approximately $594,000. CastleKnight Management LP boosted its holdings in shares of Yelp by 126.7% in the fourth quarter. CastleKnight Management LP now owns 68,925 shares of the local business review company’s stock valued at $3,263,000 after acquiring an additional 38,525 shares during the period. CANADA LIFE ASSURANCE Co grew its position in shares of Yelp by 7.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 61,150 shares of the local business review company’s stock worth $2,409,000 after acquiring an additional 4,306 shares during the last quarter. Finally, Ceera Investments LLC increased its holdings in shares of Yelp by 13.6% in the 2nd quarter. Ceera Investments LLC now owns 173,597 shares of the local business review company’s stock valued at $6,414,000 after acquiring an additional 20,780 shares during the period. 90.11% of the stock is currently owned by institutional investors and hedge funds.

Yelp Stock Up 3.1 %

Shares of NYSE:YELP opened at $34.91 on Monday. Yelp Inc. has a 52 week low of $32.56 and a 52 week high of $48.99. The company has a 50-day moving average price of $34.50 and a 200 day moving average price of $36.75. The company has a market cap of $2.34 billion, a P/E ratio of 22.24, a PEG ratio of 0.82 and a beta of 1.33.

Yelp (NYSE:YELP) last posted its quarterly earnings results on Thursday, August 8th. The local business review company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.27 by $0.27. Yelp had a return on equity of 18.71% and a net margin of 10.01%. The business had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $352.98 million. During the same period last year, the firm earned $0.21 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. Analysts expect that Yelp Inc. will post 1.65 EPS for the current year.

Insiders Place Their Bets

In related news, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction dated Friday, July 5th. The shares were sold at an average price of $36.24, for a total value of $253,680.00. Following the completion of the sale, the chief operating officer now owns 288,842 shares in the company, valued at $10,467,634.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Yelp 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 value of $377,160.00. Following the sale, the chief technology officer now owns 145,171 shares of the company’s stock, valued at $5,080,985. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction on Friday, July 5th. The shares were sold at an average price of $36.24, for a total value of $253,680.00. Following the completion of the transaction, the chief operating officer now owns 288,842 shares of the company’s stock, valued at approximately $10,467,634.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,776 shares of company stock worth $863,590. Corporate insiders own 7.40% of the company’s stock.

Wall Street Analyst Weigh In

YELP has been the subject of a number of recent research reports. Morgan Stanley increased their price target on shares of Yelp from $32.00 to $34.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 23rd. Wolfe Research began coverage on shares of Yelp in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. StockNews.com cut Yelp from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. Bank of America began coverage on Yelp in a research report on Monday, September 16th. They set an “underperform” rating and a $30.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their target price on Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Yelp has a consensus rating of “Hold” and an average target price of $37.20.

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.