KLP Kapitalforvaltning AS Makes New $1.49 Million Investment in Yelp Inc. (NYSE:YELP)

KLP Kapitalforvaltning AS bought a new stake in shares of Yelp Inc. (NYSE:YELP) in the 4th quarter, Holdings Channel reports. The firm bought 38,600 shares of the local business review company’s stock, valued at approximately $1,494,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Allworth Financial LP increased its position in Yelp by 82.5% during the 4th quarter. Allworth Financial LP now owns 637 shares of the local business review company’s stock valued at $25,000 after buying an additional 288 shares in the last quarter. Avion Wealth grew its stake in shares of Yelp by 1,963.6% in the fourth quarter. Avion Wealth now owns 908 shares of the local business review company’s stock worth $35,000 after acquiring an additional 864 shares during the last quarter. Fifth Third Bancorp increased its holdings in shares of Yelp by 76.5% during the fourth quarter. Fifth Third Bancorp now owns 1,094 shares of the local business review company’s stock valued at $42,000 after acquiring an additional 474 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Yelp by 75.9% in the 4th quarter. GAMMA Investing LLC now owns 1,717 shares of the local business review company’s stock worth $66,000 after purchasing an additional 741 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its stake in Yelp by 16.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 1,815 shares of the local business review company’s stock worth $70,000 after purchasing an additional 263 shares in the last quarter. 90.11% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Craig Saldanha sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $38.40, for a total value of $38,400.00. Following the transaction, the insider now owns 182,558 shares of the company’s stock, valued at approximately $7,010,227.20. This trade represents a 0.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO David A. Schwarzbach sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $39.51, for a total transaction of $395,100.00. Following the sale, the chief financial officer now directly owns 191,988 shares of the company’s stock, valued at approximately $7,585,445.88. This represents a 4.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,727 shares of company stock worth $2,081,667. 7.40% of the stock is owned by insiders.

Yelp Price Performance

Shares of NYSE:YELP opened at $37.22 on Friday. Yelp Inc. has a 1 year low of $32.56 and a 1 year high of $41.72. The stock’s fifty day moving average price is $37.26 and its 200-day moving average price is $36.79. The company has a market cap of $2.42 billion, a P/E ratio of 19.39, a PEG ratio of 0.76 and a beta of 1.40.

Yelp (NYSE:YELP) last announced its quarterly earnings results on Thursday, February 13th. The local business review company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.09. Yelp had a net margin of 9.41% and a return on equity of 18.07%. The firm had revenue of $361.95 million for the quarter, compared to the consensus estimate of $350.73 million. On average, sell-side analysts anticipate that Yelp Inc. will post 2.22 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Morgan Stanley raised their price objective on shares of Yelp from $34.00 to $35.00 and gave the company an “underweight” rating in a research note on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $37.17.

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.