Aigen Investment Management LP Makes New Investment in Yelp Inc. (NYSE:YELP)

by · The Markets Daily

Aigen Investment Management LP acquired a new stake in shares of Yelp Inc. (NYSE:YELP – Free Report) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 27,218 shares of the local business review company’s stock, valued at approximately $955,000.

Several other institutional investors and hedge funds have also recently modified their holdings of YELP. Quest Partners LLC increased its position in shares of Yelp by 132.7% in the second quarter. Quest Partners LLC now owns 27,094 shares of the local business review company’s stock valued at $1,001,000 after acquiring an additional 15,451 shares during the period. UniSuper Management Pty Ltd purchased a new position in shares of Yelp during the first quarter valued at approximately $594,000. CANADA LIFE ASSURANCE Co lifted its holdings in Yelp by 7.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 61,150 shares of the local business review company’s stock valued at $2,409,000 after acquiring an additional 4,306 shares during the period. Ceera Investments LLC boosted its stake in shares of Yelp by 13.6% during the 2nd quarter. Ceera Investments LLC now owns 173,597 shares of the local business review company’s stock worth $6,414,000 after acquiring an additional 20,780 shares during the last quarter. Finally, Algert Global LLC grew its stake in shares of Yelp by 11.0% during the 2nd quarter. Algert Global LLC now owns 189,864 shares of the local business review company’s stock valued at $7,015,000 after acquiring an additional 18,786 shares during the period. Hedge funds and other institutional investors own 90.11% of the company’s stock.

Yelp Trading Up 1.7 %

Shares of Yelp stock opened at $38.21 on Wednesday. The firm’s 50-day moving average price is $34.44 and its 200 day moving average price is $35.67. The firm has a market capitalization of $2.56 billion, a PE ratio of 22.88, a P/E/G ratio of 0.70 and a beta of 1.33. Yelp Inc. has a twelve month low of $32.56 and a twelve month high of $48.99.

Analyst Upgrades and Downgrades

YELP has been the topic of several recent analyst reports. StockNews.com upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating in a research report on Monday. Morgan Stanley raised their target price on shares of Yelp from $32.00 to $34.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group cut Yelp from a “buy” rating to a “neutral” rating and dropped their target price for the company from $46.00 to $38.00 in a research report on Monday, October 14th. Bank of America initiated coverage on Yelp in a research report on Monday, September 16th. They set an “underperform” rating and a $30.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their target price on Yelp from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $37.00.

Get Our Latest Research Report on Yelp

Insider Activity at Yelp

In other news, COO Joseph R. Nachman sold 7,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $8,694,083.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CTO Sam Eaton sold 10,776 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $35.00, for a total transaction of $377,160.00. Following the sale, the chief technology officer now owns 145,171 shares of the company’s stock, valued at approximately $5,080,985. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph R. Nachman sold 7,000 shares of Yelp stock in a transaction on Friday, October 4th. The stock was 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 $8,694,083.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.

About Yelp

(Free Report)

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.

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