Public Sector Pension Investment Board Decreases Stock Position in Yelp Inc. (NYSE:YELP)

Public Sector Pension Investment Board trimmed its position in shares of Yelp Inc. (NYSE:YELP) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 141,974 shares of the local business review company’s stock after selling 6,400 shares during the quarter. Public Sector Pension Investment Board’s holdings in Yelp were worth $4,980,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. CWM LLC boosted its stake in shares of Yelp by 24.7% during the 2nd quarter. CWM LLC now owns 1,903 shares of the local business review company’s stock worth $70,000 after purchasing an additional 377 shares during the period. Exchange Traded Concepts LLC lifted its stake in Yelp by 54.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock worth $40,000 after purchasing an additional 405 shares during the last quarter. Fifth Third Bancorp lifted its stake in Yelp by 262.8% in the second quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock worth $25,000 after purchasing an additional 481 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Yelp by 115.9% during the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock valued at $34,000 after buying an additional 524 shares during the period. Finally, Signaturefd LLC grew its stake in shares of Yelp by 98.5% during the third quarter. Signaturefd LLC now owns 1,175 shares of the local business review company’s stock valued at $41,000 after buying an additional 583 shares during the last quarter. Institutional investors own 90.11% of the company’s stock.

Insider Transactions at Yelp

In other Yelp news, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $34.02, for a total value of $238,140.00. Following the transaction, the chief operating officer now owns 255,558 shares in the company, valued at $8,694,083.16. The trade was a 2.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carmen Amara sold 12,854 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.17, for a total transaction of $490,637.18. Following the sale, the insider now directly owns 88,813 shares of the company’s stock, valued at approximately $3,389,992.21. The trade was a 12.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,598 shares of company stock valued at $1,106,106. Company insiders own 7.40% of the company’s stock.

Yelp Price Performance

Shares of Yelp stock opened at $38.22 on Monday. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 0.69 and a beta of 1.33. The firm’s 50-day moving average is $35.19 and its two-hundred day moving average is $35.44. Yelp Inc. has a 1 year low of $32.56 and a 1 year high of $48.99.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on YELP. Evercore ISI upgraded Yelp to a “hold” rating in a report on Monday, November 11th. Bank of America assumed coverage on shares of Yelp in a research note on Monday, September 16th. They set an “underperform” rating and a $30.00 target price for the company. The Goldman Sachs Group downgraded shares of Yelp from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $46.00 to $38.00 in a research note on Monday, October 14th. JPMorgan Chase & Co. decreased their price objective on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Finally, StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus 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.