Bank of Montreal Can Has $7.02 Million Stock Holdings in Yelp Inc. (NYSE:YELP)

Bank of Montreal Can raised its stake in shares of Yelp Inc. (NYSE:YELP) by 57.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 190,099 shares of the local business review company’s stock after purchasing an additional 69,095 shares during the quarter. Bank of Montreal Can’s holdings in Yelp were worth $7,024,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Pacer Advisors Inc. increased its position in shares of Yelp by 4.3% during the 2nd quarter. Pacer Advisors Inc. now owns 2,695,536 shares of the local business review company’s stock worth $99,600,000 after purchasing an additional 111,936 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Yelp by 2.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,693,819 shares of the local business review company’s stock worth $62,587,000 after acquiring an additional 33,046 shares in the last quarter. Goodnow Investment Group LLC grew its position in Yelp by 1.3% during the 4th quarter. Goodnow Investment Group LLC now owns 641,660 shares of the local business review company’s stock worth $30,376,000 after acquiring an additional 7,940 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Yelp by 1.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 567,567 shares of the local business review company’s stock valued at $20,972,000 after purchasing an additional 6,682 shares in the last quarter. Finally, Norges Bank bought a new position in Yelp in the 4th quarter valued at $20,718,000. 90.11% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. StockNews.com lowered Yelp from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 12th. Bank of America started coverage on shares of Yelp in a research report on Monday, September 16th. They issued an “underperform” rating and a $30.00 price objective for the company. Wolfe Research began coverage on shares of Yelp in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Morgan Stanley raised their price target on shares of Yelp from $32.00 to $34.00 and gave the company an “underweight” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. reduced their price objective on Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Two 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. According to MarketBeat.com, Yelp has a consensus rating of “Hold” and an average target price of $37.20.

Insider Buying and Selling

In other news, CTO Sam Eaton sold 10,776 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $35.00, for a total value of $377,160.00. Following the completion of the transaction, the chief technology officer now owns 145,171 shares of the company’s stock, valued at approximately $5,080,985. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CTO Sam Eaton sold 10,776 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $35.00, for a total transaction 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 legal filing with the SEC, which is available at the SEC website. Also, COO Joseph R. Nachman sold 7,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $33.25, for a total value of $232,750.00. Following the completion of the transaction, the chief operating officer now owns 281,842 shares of the company’s stock, valued at $9,371,246.50. The disclosure for this sale can be found here. Insiders have sold 24,776 shares of company stock valued at $863,590 in the last 90 days. 7.40% of the stock is owned by insiders.

Yelp Stock Up 0.5 %

YELP stock opened at $35.07 on Tuesday. Yelp Inc. has a twelve month low of $32.56 and a twelve month high of $48.99. The business’s fifty day moving average is $34.45 and its 200-day moving average is $36.73. The company has a market cap of $2.37 billion, a P/E ratio of 22.34, a price-to-earnings-growth ratio of 0.82 and a beta of 1.33.

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

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.