Texas Permanent School Fund Lowers Stock Holdings in Yelp Inc (NYSE:YELP)

Texas Permanent School Fund lowered its stake in Yelp Inc (NYSE:YELP) by 8.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,993 shares of the local business review company’s stock after selling 4,253 shares during the quarter. Texas Permanent School Fund owned about 0.06% of Yelp worth $1,529,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. State Board of Administration of Florida Retirement System lifted its stake in Yelp by 1.1% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 52,751 shares of the local business review company’s stock worth $1,803,000 after purchasing an additional 580 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Yelp by 32.6% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 3,060 shares of the local business review company’s stock worth $106,000 after purchasing an additional 752 shares in the last quarter. Meadow Creek Investment Management LLC lifted its stake in Yelp by 18.1% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 5,632 shares of the local business review company’s stock worth $192,000 after purchasing an additional 864 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Yelp by 20.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,239 shares of the local business review company’s stock valued at $182,000 after buying an additional 877 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in shares of Yelp by 271.5% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,371 shares of the local business review company’s stock valued at $47,000 after buying an additional 1,002 shares in the last quarter. Institutional investors and hedge funds own 92.66% of the company’s stock.

Several analysts have recently issued reports on the stock. Evercore ISI set a $38.00 target price on shares of Yelp and gave the company a “hold” rating in a research report on Friday, August 9th. Royal Bank of Canada restated an “outperform” rating and set a $44.00 target price (up from $42.00) on shares of Yelp in a research report on Friday, August 9th. Credit Suisse Group restated an “outperform” rating and set a $46.00 target price (up from $45.00) on shares of Yelp in a research report on Friday, August 9th. Oppenheimer restated a “hold” rating on shares of Yelp in a research report on Friday, August 9th. Finally, DA Davidson restated a “buy” rating on shares of Yelp in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $39.86.

NYSE:YELP traded up $1.29 during mid-day trading on Monday, hitting $36.06. 1,950,808 shares of the stock traded hands, compared to its average volume of 1,564,402. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 80.13, a PEG ratio of 2.31 and a beta of 1.01. Yelp Inc has a 52 week low of $30.11 and a 52 week high of $40.99. The firm’s 50 day moving average is $33.88 and its two-hundred day moving average is $34.24. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 0.26.

Yelp (NYSE:YELP) last issued its quarterly earnings results on Thursday, August 8th. The local business review company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.12 by $0.04. The company had revenue of $246.96 million for the quarter, compared to the consensus estimate of $247.63 million. Yelp had a net margin of 6.26% and a return on equity of 4.62%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. As a group, research analysts predict that Yelp Inc will post 0.66 EPS for the current year.

Yelp Profile

Yelp Inc operates a platform that connects consumers 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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