Yelp Inc. (NYSE:YELP) Shares Acquired by Algert Global LLC

Algert Global LLC increased its position in shares of Yelp Inc. (NYSE:YELP) by 7.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 204,077 shares of the local business review company’s stock after acquiring an additional 14,213 shares during the quarter. Algert Global LLC’s holdings in Yelp were worth $7,159,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in Yelp by 1.8% during the third quarter. Pacer Advisors Inc. now owns 2,743,899 shares of the local business review company’s stock worth $96,256,000 after buying an additional 48,363 shares during the period. Dimensional Fund Advisors LP boosted its stake in Yelp by 2.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,693,819 shares of the local business review company’s stock worth $62,587,000 after buying an additional 33,046 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Yelp by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,174,607 shares of the local business review company’s stock worth $41,205,000 after buying an additional 56,618 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Yelp by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 586,820 shares of the local business review company’s stock worth $21,683,000 after buying an additional 4,547 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Yelp by 1.2% during the second quarter. Bank of New York Mellon Corp now owns 567,567 shares of the local business review company’s stock worth $20,972,000 after buying an additional 6,682 shares during the period. 90.11% of the stock is currently owned by institutional investors and hedge funds.

Yelp Stock Up 1.5 %

Shares of Yelp stock opened at $36.13 on Friday. 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 of $34.81 and a 200 day moving average of $35.45. The company has a market capitalization of $2.38 billion, a P/E ratio of 21.63, a P/E/G ratio of 0.66 and a beta of 1.33.

Insider Buying and Selling

In other Yelp news, CTO Sam Eaton sold 10,744 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $35.12, for a total transaction of $377,329.28. Following the sale, the chief technology officer now owns 122,480 shares of the company’s stock, valued at approximately $4,301,497.60. This trade represents a 8.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $34.02, for a total transaction of $238,140.00. Following the sale, the chief operating officer now directly owns 255,558 shares in the company, valued at approximately $8,694,083.16. The trade was a 2.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,598 shares of company stock worth $1,106,106 over the last 90 days. 7.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on YELP. Evercore ISI raised shares of Yelp to a “hold” rating in a research note on Monday, November 11th. Bank of America began coverage on shares of Yelp in a research note on Monday, September 16th. They issued an “underperform” rating and a $30.00 price objective for the company. Robert W. Baird lowered their price objective on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research note on Friday, November 8th. StockNews.com raised shares of Yelp from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group lowered shares of Yelp from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $46.00 to $38.00 in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Yelp presently has an average rating of “Hold” and a consensus price target of $37.00.

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.