Great Lakes Advisors LLC Has $8.22 Million Stake in Yelp Inc. (NYSE:YELP)

Great Lakes Advisors LLC grew its stake in Yelp Inc. (NYSE:YELP) by 9.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 225,786 shares of the local business review company’s stock after purchasing an additional 19,487 shares during the period. Great Lakes Advisors LLC owned about 0.33% of Yelp worth $8,221,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. River Road Asset Management LLC grew its position in Yelp by 1.8% in the 2nd quarter. River Road Asset Management LLC now owns 2,043,960 shares of the local business review company’s stock worth $74,421,000 after purchasing an additional 35,663 shares during the last quarter. Royce & Associates LP grew its position in Yelp by 42.4% in the 1st quarter. Royce & Associates LP now owns 49,310 shares of the local business review company’s stock worth $1,514,000 after purchasing an additional 14,676 shares during the last quarter. Jacob Asset Management of New York LLC grew its position in Yelp by 396.9% in the 1st quarter. Jacob Asset Management of New York LLC now owns 27,668 shares of the local business review company’s stock worth $849,000 after purchasing an additional 22,100 shares during the last quarter. KBC Group NV acquired a new stake in Yelp in the 2nd quarter worth $190,000. Finally, Ceera Investments LLC lifted its holdings in shares of Yelp by 12.7% during the 1st quarter. Ceera Investments LLC now owns 117,547 shares of the local business review company’s stock worth $3,609,000 after acquiring an additional 13,281 shares during the period. 90.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Yelp news, COO Joseph R. Nachman sold 6,000 shares of the business’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $40.72, for a total value of $244,320.00. Following the completion of the transaction, the chief operating officer now directly owns 279,232 shares of the company’s stock, valued at $11,370,327.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Yelp news, CEO Jeremy Stoppelman sold 10,000 shares of the business’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $45.00, for a total value of $450,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,122,010 shares of the company’s stock, valued at $95,490,450. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Joseph R. Nachman sold 6,000 shares of Yelp stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $40.72, for a total transaction of $244,320.00. Following the sale, the chief operating officer now owns 279,232 shares of the company’s stock, valued at approximately $11,370,327.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 81,526 shares of company stock valued at $3,593,069. Insiders own 7.20% of the company’s stock.

Yelp Trading Up 1.4 %

Shares of NYSE YELP opened at $45.26 on Friday. Yelp Inc. has a 1-year low of $25.30 and a 1-year high of $47.59. The company has a market cap of $3.10 billion, a PE ratio of 35.92 and a beta of 1.43. The company has a 50-day moving average of $42.85 and a two-hundred day moving average of $39.70.

Wall Street Analyst Weigh In

YELP has been the subject of a number of analyst reports. StockNews.com initiated coverage on shares of Yelp in a report on Thursday, October 5th. They set a “strong-buy” rating for the company. TheStreet raised shares of Yelp from a “c+” rating to a “b” rating in a report on Thursday, August 3rd. JPMorgan Chase & Co. raised shares of Yelp from an “underweight” rating to a “neutral” rating and set a $39.00 price objective for the company in a report on Friday, October 27th. Jefferies Financial Group raised their price objective on shares of Yelp from $32.00 to $39.00 and gave the stock a “hold” rating in a report on Tuesday, July 25th. Finally, Credit Suisse Group raised their price objective on shares of Yelp from $43.00 to $53.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $41.33.

Yelp Company Profile

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.