Yelp Sees Unusually Large Options Volume (NYSE:YELP)

Yelp Inc. (NYSE:YELPGet Rating) was the recipient of some unusual options trading activity on Friday. Stock investors purchased 1,913 put options on the company. This is an increase of 157% compared to the average daily volume of 743 put options.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Evercore ISI boosted their target price on shares of Yelp from $35.00 to $41.00 and gave the stock an “in-line” rating in a report on Friday. The Goldman Sachs Group downgraded shares of Yelp from a “buy” rating to a “neutral” rating and cut their price objective for the company from $49.00 to $33.00 in a report on Friday, July 15th. BMO Capital Markets cut their price objective on shares of Yelp from $42.00 to $37.00 in a report on Tuesday, May 10th. Morgan Stanley cut their price objective on shares of Yelp from $34.00 to $33.00 and set an “underweight” rating on the stock in a report on Tuesday, July 19th. Finally, Wells Fargo & Company cut their price objective on shares of Yelp from $40.00 to $35.00 in a report on Monday, May 9th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $37.75.

Insider Activity

In other news, COO Joseph R. Nachman sold 6,000 shares of the business’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $28.86, for a total transaction of $173,160.00. Following the completion of the sale, the chief operating officer now directly owns 328,696 shares of the company’s stock, valued at $9,486,166.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Sam Eaton sold 10,605 shares of Yelp stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $30.00, for a total value of $318,150.00. Following the completion of the sale, the chief technology officer now directly owns 213,215 shares in the company, valued at $6,396,450. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Joseph R. Nachman sold 6,000 shares of Yelp stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $28.86, for a total value of $173,160.00. Following the completion of the sale, the chief operating officer now owns 328,696 shares of the company’s stock, valued at $9,486,166.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,605 shares of company stock valued at $1,021,250. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Yelp

A number of hedge funds have recently modified their holdings of YELP. Point72 Hong Kong Ltd purchased a new position in Yelp during the 4th quarter valued at about $53,000. Counterpoint Mutual Funds LLC purchased a new position in Yelp during the 1st quarter valued at about $65,000. KBC Group NV purchased a new position in Yelp during the 4th quarter valued at about $79,000. Daiwa Securities Group Inc. boosted its holdings in Yelp by 47.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,471 shares of the local business review company’s stock valued at $90,000 after acquiring an additional 794 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in Yelp by 16.2% during the 1st quarter. Captrust Financial Advisors now owns 4,033 shares of the local business review company’s stock valued at $138,000 after acquiring an additional 563 shares during the period. 88.33% of the stock is currently owned by hedge funds and other institutional investors.

Yelp Stock Performance

NYSE YELP opened at $38.26 on Friday. The business has a fifty day moving average price of $29.64 and a 200 day moving average price of $31.96. Yelp has a one year low of $26.28 and a one year high of $43.28. The company has a market cap of $2.72 billion, a P/E ratio of 67.12 and a beta of 1.59.

Yelp (NYSE:YELPGet Rating) last issued its earnings results on Thursday, August 4th. The local business review company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.10. Yelp had a return on equity of 5.82% and a net margin of 4.14%. The business had revenue of $298.90 million during the quarter, compared to the consensus estimate of $284.30 million. During the same period last year, the company earned $0.05 EPS. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. As a group, sell-side analysts predict that Yelp will post 0.86 EPS for the current fiscal year.

About Yelp

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Yelp Inc operates a platform that connects consumers with local businesses in the United States and internationally. The company's platform covers various local business 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.

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