Cresset Asset Management LLC Boosts Position in Yelp Inc. (NYSE:YELP)

Cresset Asset Management LLC boosted its position in shares of Yelp Inc. (NYSE:YELP) by 6.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,306 shares of the local business review company’s stock after purchasing an additional 3,810 shares during the period. Cresset Asset Management LLC owned approximately 0.09% of Yelp worth $2,334,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of YELP. Barclays PLC raised its holdings in Yelp by 347.9% during the third quarter. Barclays PLC now owns 160,363 shares of the local business review company’s stock worth $5,627,000 after purchasing an additional 124,561 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Yelp by 1.3% during the 3rd quarter. Franklin Resources Inc. now owns 125,492 shares of the local business review company’s stock valued at $4,323,000 after purchasing an additional 1,587 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Yelp by 75.9% during the 4th quarter. GAMMA Investing LLC now owns 1,717 shares of the local business review company’s stock worth $66,000 after buying an additional 741 shares during the period. Diversified Trust Co bought a new stake in Yelp in the 4th quarter valued at $205,000. Finally, Mendota Financial Group LLC grew its position in Yelp by 93,166.7% in the 4th quarter. Mendota Financial Group LLC now owns 2,798 shares of the local business review company’s stock worth $108,000 after purchasing an additional 2,795 shares during the last quarter. 90.11% of the stock is currently owned by institutional investors and hedge funds.

Yelp Stock Up 8.6 %

NYSE YELP opened at $38.80 on Friday. The firm’s 50 day moving average is $35.25 and its 200-day moving average is $36.95. The company has a market capitalization of $2.52 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 0.76 and a beta of 0.99. Yelp Inc. has a 12-month low of $32.29 and a 12-month high of $41.72.

Yelp (NYSE:YELP) last released its quarterly earnings data on Thursday, May 8th. The local business review company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. The firm had revenue of $358.53 million for the quarter, compared to the consensus estimate of $353.48 million. Yelp had a net margin of 9.41% and a return on equity of 18.07%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 earnings per share. As a group, sell-side analysts expect that Yelp Inc. will post 2.22 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the company. JPMorgan Chase & Co. reduced their target price on Yelp from $36.00 to $35.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley decreased their price target on Yelp from $35.00 to $30.00 and set an “underweight” rating on the stock in a research note on Thursday, April 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Yelp presently has an average rating of “Hold” and an average price target of $36.33.

Insider Transactions at Yelp

In related news, CTO Sam Eaton sold 21,989 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $35.70, for a total value of $785,007.30. Following the transaction, the chief technology officer now directly owns 153,159 shares in the company, valued at approximately $5,467,776.30. This represents a 12.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Craig Saldanha sold 1,000 shares of Yelp stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $35.75, for a total transaction of $35,750.00. Following the completion of the sale, the insider now owns 211,558 shares of the company’s stock, valued at $7,563,198.50. This trade represents a 0.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 57,727 shares of company stock worth $2,025,717 over the last quarter. Company insiders own 7.40% of the company’s stock.

Yelp Company 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.