Yelp Inc. (NYSE:YELP) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its position in Yelp Inc. (NYSE:YELP) by 57.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 14,203 shares of the local business review company’s stock after selling 18,827 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Yelp were worth $498,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fifth Third Bancorp increased its position in shares of Yelp by 262.8% during the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the local business review company’s stock valued at $25,000 after purchasing an additional 481 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of Yelp in the second quarter worth $25,000. GAMMA Investing LLC boosted its position in shares of Yelp by 115.9% in the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company’s stock worth $34,000 after buying an additional 524 shares during the period. Exchange Traded Concepts LLC boosted its position in Yelp by 54.5% during the third quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company’s stock valued at $40,000 after purchasing an additional 405 shares during the last quarter. Finally, Signaturefd LLC boosted its position in 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 purchasing an additional 583 shares during the last quarter. 90.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Robert W. Baird reduced their price target on Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Bank of America began coverage on Yelp in a research note on Monday, September 16th. They issued an “underperform” rating and a $30.00 price objective on the stock. Evercore ISI upgraded Yelp to a “hold” rating in a research note on Monday, November 11th. Morgan Stanley boosted their target price on Yelp from $32.00 to $34.00 and gave the stock an “underweight” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. reduced their target price on Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Two 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.00.

Yelp Price Performance

YELP stock opened at $35.95 on Friday. Yelp Inc. has a 1 year low of $32.56 and a 1 year high of $48.99. The stock has a market capitalization of $2.41 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 0.66 and a beta of 1.33. The company’s 50-day moving average is $34.58 and its 200-day moving average is $35.61.

Insider Buying and Selling at Yelp

In other news, insider Carmen Amara sold 12,854 shares of the firm’s stock in a transaction on 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 owns 88,813 shares in the company, valued at approximately $3,389,992.21. This trade represents a 12.64 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Joseph R. Nachman sold 7,000 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $34.02, for a total transaction of $238,140.00. Following the sale, the chief operating officer now owns 255,558 shares in the company, valued at approximately $8,694,083.16. This trade represents a 2.67 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,630 shares of company stock worth $1,105,937. Insiders own 7.40% of the company’s stock.

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.