Arrowstreet Capital Limited Partnership Buys 255,775 Shares of Yelp Inc. (NYSE:YELP)

Arrowstreet Capital Limited Partnership grew its position in Yelp Inc. (NYSE:YELP) by 16.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,845,575 shares of the local business review company’s stock after acquiring an additional 255,775 shares during the period. Arrowstreet Capital Limited Partnership owned 2.80% of Yelp worth $71,424,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. State Street Corp raised its position in Yelp by 0.9% in the third quarter. State Street Corp now owns 2,553,227 shares of the local business review company’s stock valued at $89,567,000 after purchasing an additional 23,719 shares during the last quarter. Geode Capital Management LLC raised its holdings in Yelp by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 1,759,229 shares of the local business review company’s stock valued at $61,724,000 after buying an additional 64,381 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Yelp by 5.1% during the 3rd 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. FMR LLC grew its holdings in Yelp by 13.7% during the 3rd quarter. FMR LLC now owns 654,059 shares of the local business review company’s stock worth $22,944,000 after acquiring an additional 78,585 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Yelp by 70.7% in the 4th quarter. JPMorgan Chase & Co. now owns 601,632 shares of the local business review company’s stock valued at $23,283,000 after acquiring an additional 249,231 shares during the period. Institutional investors and hedge funds own 90.11% of the company’s stock.

Analyst Ratings Changes

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

Yelp Stock Performance

NYSE:YELP opened at $37.09 on Tuesday. Yelp Inc. has a 52 week low of $32.56 and a 52 week high of $41.72. The firm’s fifty day moving average is $37.19 and its 200-day moving average is $36.87. The firm has a market cap of $2.41 billion, a P/E ratio of 19.32, a P/E/G ratio of 0.76 and a beta of 1.40.

Yelp (NYSE:YELP) last issued its quarterly earnings results on Thursday, February 13th. The local business review company reported $0.62 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 business had revenue of $361.95 million for the quarter, compared to analysts’ expectations of $350.73 million. As a group, sell-side analysts anticipate that Yelp Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Carmen Amara sold 1,500 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $33.16, for a total transaction of $49,740.00. Following the transaction, the insider now owns 107,207 shares in the company, valued at $3,554,984.12. The trade was a 1.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Craig Saldanha sold 1,000 shares of the firm’s stock in a transaction on Monday, March 24th. The stock was sold at an average price of $36.34, for a total transaction of $36,340.00. Following the completion of the sale, the insider now owns 223,512 shares of the company’s stock, valued at $8,122,426.08. The trade was a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 57,727 shares of company stock valued at $2,081,667 over the last 90 days. Company insiders own 7.40% of the company’s stock.

Yelp 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.