Modus Advisors LLC Takes $112,000 Position in Yelp Inc. (NYSE:YELP)

Modus Advisors LLC acquired a new stake in Yelp Inc. (NYSE:YELP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,903 shares of the local business review company’s stock, valued at approximately $112,000.

Several other hedge funds have also recently bought and sold shares of YELP. Millennium Management LLC boosted its stake in shares of Yelp by 1,089.2% in the 2nd quarter. Millennium Management LLC now owns 188,371 shares of the local business review company’s stock valued at $6,960,000 after buying an additional 172,531 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Yelp by 114.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 279,180 shares of the local business review company’s stock worth $9,794,000 after acquiring an additional 148,917 shares in the last quarter. Barclays PLC lifted its stake in Yelp by 347.9% during the third quarter. Barclays PLC now owns 160,363 shares of the local business review company’s stock worth $5,627,000 after purchasing an additional 124,561 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Yelp by 4.3% in the second quarter. Pacer Advisors Inc. now owns 2,695,536 shares of the local business review company’s stock valued at $99,600,000 after purchasing an additional 111,936 shares in the last quarter. Finally, Bridgewater Associates LP increased its stake in Yelp by 136.5% in the third quarter. Bridgewater Associates LP now owns 181,622 shares of the local business review company’s stock valued at $6,371,000 after purchasing an additional 104,839 shares during the last quarter. Institutional investors and hedge funds own 90.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on YELP. The Goldman Sachs Group downgraded Yelp from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $46.00 to $38.00 in a report on Monday, October 14th. Robert W. Baird reduced their target price on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Friday, November 8th. Evercore ISI raised Yelp to a “hold” rating in a report on Monday, November 11th. StockNews.com upgraded Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, 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 target on the stock. Two analysts have rated the stock with a sell rating, six have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $37.00.

Yelp Stock Up 0.5 %

Shares of YELP traded up $0.20 during mid-day trading on Friday, reaching $39.27. 29,203 shares of the stock traded hands, compared to its average volume of 240,355. The stock has a fifty day simple moving average of $37.47 and a 200 day simple moving average of $35.83. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 0.71 and a beta of 1.35. Yelp Inc. has a 12-month low of $32.56 and a 12-month high of $46.77.

Insider Buying and Selling

In other news, CTO Sam Eaton sold 10,744 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $35.12, for a total transaction of $377,329.28. Following the completion of the sale, the chief technology officer now owns 122,480 shares in the company, valued at approximately $4,301,497.60. This represents a 8.06 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carmen Amara sold 12,854 shares of Yelp stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.17, for a total value of $490,637.18. Following the completion of the transaction, the insider now owns 88,813 shares in the company, valued at $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. Over the last quarter, insiders sold 45,865 shares of company stock worth $1,734,268. Insiders own 7.40% of the company’s stock.

Yelp Profile

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.