Convergence Investment Partners LLC Invests $1.62 Million in Yelp Inc (YELP)

Convergence Investment Partners LLC bought a new position in shares of Yelp Inc (NYSE:YELP) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 38,694 shares of the local business review company’s stock, valued at approximately $1,624,000.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Yelp by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 5,935,362 shares of the local business review company’s stock worth $178,180,000 after acquiring an additional 231,754 shares during the period. BlackRock Inc. boosted its holdings in Yelp by 84.9% in the 2nd quarter. BlackRock Inc. now owns 5,232,684 shares of the local business review company’s stock worth $157,084,000 after acquiring an additional 2,403,240 shares during the period. Prescott General Partners LLC boosted its holdings in Yelp by 21.3% in the 2nd quarter. Prescott General Partners LLC now owns 3,851,774 shares of the local business review company’s stock worth $115,630,000 after acquiring an additional 676,251 shares during the period. Fisher Asset Management LLC boosted its holdings in Yelp by 17.7% in the 3rd quarter. Fisher Asset Management LLC now owns 2,893,867 shares of the local business review company’s stock worth $125,304,000 after acquiring an additional 434,574 shares during the period. Finally, Southpoint Capital Advisors LP purchased a new position in Yelp in the 2nd quarter worth approximately $66,044,000. Institutional investors and hedge funds own 86.09% of the company’s stock.

Shares of Yelp Inc (NYSE:YELP) traded down $0.34 during trading on Friday, reaching $38.29. The company had a trading volume of 3,508,482 shares, compared to its average volume of 1,800,088. The stock has a market cap of $3,120.00, a P/E ratio of 22.26, a P/E/G ratio of 4.20 and a beta of 1.14. Yelp Inc has a 1 year low of $26.93 and a 1 year high of $48.40.

In related news, Director Geoffrey L. Donaker sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $45.49, for a total value of $272,940.00. Following the transaction, the director now directly owns 9,590 shares of the company’s stock, valued at approximately $436,249.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alan Ramsay sold 592 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $46.92, for a total value of $27,776.64. Following the completion of the transaction, the insider now directly owns 20,048 shares in the company, valued at $940,652.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 257,085 shares of company stock valued at $11,338,738. Company insiders own 10.10% of the company’s stock.

Several equities analysts have recently commented on the company. Zacks Investment Research upgraded Yelp from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Tuesday, November 21st. Roth Capital increased their target price on Yelp from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Tuesday, October 31st. KeyCorp set a $54.00 target price on Yelp and gave the company a “buy” rating in a research note on Thursday, November 16th. Needham & Company LLC reissued a “buy” rating and set a $49.00 price target on shares of Yelp in a research report on Thursday, November 2nd. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $52.00 price target on shares of Yelp in a research report on Thursday, November 2nd. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $43.55.

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Yelp Company Profile

Yelp Inc (Yelp) connects people with local businesses by bringing ‘word of mouth’ online and providing a platform for businesses and consumers to engage and transact. The Company offers local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences with other consumers by posting reviews, tips, photos and videos, and to engage directly with businesses, through reviews, its Request-A-Quote and Message the Business features, and by completing transactions on the Yelp Platform.

Institutional Ownership by Quarter for Yelp (NYSE:YELP)

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