Russell Investments Group Ltd. Cuts Stock Holdings in Yelp Inc. (NYSE:YELP)

Posted by on May 13th, 2023

Russell Investments Group Ltd. trimmed its holdings in shares of Yelp Inc. (NYSE:YELP – Get Rating) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 332,290 shares of the local business review company’s stock after selling 27,097 shares during the period. Russell Investments Group Ltd. owned about 0.48% of Yelp worth $9,040,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in shares of Yelp by 127.6% during the fourth quarter. IFP Advisors Inc now owns 867 shares of the local business review company’s stock worth $37,000 after purchasing an additional 486 shares during the period. Altshuler Shaham Ltd purchased a new stake in Yelp in the third quarter worth about $32,000. U.S. Capital Wealth Advisors LLC purchased a new stake in Yelp in the fourth quarter worth about $27,000. Ronald Blue Trust Inc. lifted its holdings in Yelp by 94.6% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,584 shares of the local business review company’s stock worth $54,000 after buying an additional 770 shares during the period. Finally, Gladius Capital Management LP purchased a new stake in Yelp in the fourth quarter worth about $53,000. 93.01% of the stock is currently owned by hedge funds and other institutional investors.

Yelp Stock Performance

YELP opened at $29.44 on Friday. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 58.88 and a beta of 1.45. Yelp Inc. has a fifty-two week low of $25.30 and a fifty-two week high of $39.26. The firm’s fifty day moving average is $29.60 and its 200 day moving average is $29.98.

Yelp (NYSE:YELP – Get Rating) last posted its earnings results on Thursday, February 9th. The local business review company reported $0.28 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.03). Yelp had a return on equity of 5.49% and a net margin of 2.94%. The business had revenue of $309.10 million during the quarter, compared to the consensus estimate of $306.34 million. During the same quarter last year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was up 13.1% on a year-over-year basis. On average, equities research analysts predict that Yelp Inc. will post 0.93 earnings per share for the current year.

Analysts Set New Price Targets

YELP has been the subject of a number of analyst reports. Wells Fargo & Company raised their target price on shares of Yelp from $31.00 to $39.00 in a research note on Monday, February 13th. Credit Suisse Group raised their target price on shares of Yelp from $42.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, February 10th. Morgan Stanley raised their target price on shares of Yelp from $26.00 to $28.00 and gave the company an “underweight” rating in a research note on Friday, February 10th. The Goldman Sachs Group raised their target price on shares of Yelp from $32.00 to $37.00 and gave the company a “neutral” rating in a research note on Friday, February 10th. Finally, StockNews.com downgraded shares of Yelp from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Yelp has a consensus rating of “Hold” and a consensus price target of $34.63.

Insider Activity at Yelp

In related news, CTO Sam Eaton sold 12,153 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $30.24, for a total transaction of $367,506.72. Following the transaction, the chief technology officer now directly owns 226,647 shares in the company, valued at approximately $6,853,805.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Joseph R. Nachman sold 6,000 shares of the company’s stock in a transaction dated Monday, April 10th. The shares were sold at an average price of $30.77, for a total transaction of $184,620.00. Following the transaction, the chief operating officer now directly owns 339,743 shares in the company, valued at approximately $10,453,892.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Sam Eaton sold 12,153 shares of the company’s stock in a transaction dated Tuesday, February 21st. The stock was sold at an average price of $30.24, for a total transaction of $367,506.72. Following the completion of the transaction, the chief technology officer now owns 226,647 shares in the company, valued at $6,853,805.28. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,274 shares of company stock worth $765,757. Insiders own 7.70% of the company’s stock.

Yelp Company Profile

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Yelp, Inc engages in the business of operating a community-driven platform that connects people with great local businesses. The company was founded by Jeremy Stoppelman and Russell Simmons in July 2004 and is headquartered in San Francisco, CA.

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Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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