Meru Capital Group LP Purchases New Position in Yelp Inc. (YELP)

Meru Capital Group LP purchased a new position in Yelp Inc. (NYSE:YELP) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 160,000 shares of the local business review company’s stock, valued at approximately $6,101,000. Yelp makes up about 1.7% of Meru Capital Group LP’s holdings, making the stock its 18th largest position. Meru Capital Group LP owned 0.20% of Yelp as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in Yelp by 3.4% in the second quarter. Vanguard Group Inc. now owns 4,627,569 shares of the local business review company’s stock valued at $140,493,000 after buying an additional 150,902 shares during the period. Criterion Capital Management LLC boosted its stake in Yelp by 68.0% in the third quarter. Criterion Capital Management LLC now owns 1,817,516 shares of the local business review company’s stock valued at $75,790,000 after buying an additional 735,863 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Yelp by 13.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,691,992 shares of the local business review company’s stock valued at $70,556,000 after buying an additional 202,399 shares during the period. Macquarie Group Ltd. boosted its stake in Yelp by 1.6% in the second quarter. Macquarie Group Ltd. now owns 1,450,951 shares of the local business review company’s stock valued at $44,051,000 after buying an additional 22,868 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Yelp during the third quarter valued at approximately $49,619,000. Hedge funds and other institutional investors own 74.24% of the company’s stock.

Institutional Ownership by Quarter for Yelp (NYSE:YELP)

Yelp Inc. (NYSE:YELP) traded up 0.87% on Tuesday, hitting $35.85. 4,090,700 shares of the stock were exchanged. Yelp Inc. has a one year low of $17.09 and a one year high of $43.41. The company’s 50 day moving average price is $40.43 and its 200-day moving average price is $37.89. The company’s market cap is $2.83 billion.

Yelp (NYSE:YELP) last issued its earnings results on Thursday, February 9th. The local business review company reported $0.27 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.24. The company had revenue of $194.50 million for the quarter, compared to the consensus estimate of $194.51 million. Yelp had a negative return on equity of 0.01% and a negative net margin of 0.65%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 EPS. Equities research analysts predict that Yelp Inc. will post $0.08 EPS for the current fiscal year.

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YELP has been the subject of several recent analyst reports. Vetr upgraded shares of Yelp from a “buy” rating to a “strong-buy” rating and set a $43.15 target price for the company in a research note on Monday, October 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $46.00 target price on shares of Yelp in a research note on Monday, February 6th. Zacks Investment Research cut shares of Yelp from a “hold” rating to a “sell” rating in a research note on Thursday, October 20th. Roth Capital set a $27.00 price objective on shares of Yelp and gave the company a “sell” rating in a research note on Tuesday, October 25th. Finally, MKM Partners reiterated a “buy” rating and issued a $48.00 price objective on shares of Yelp in a research note on Tuesday, November 1st. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Yelp presently has an average rating of “Buy” and a consensus price target of $40.20.

In related news, COO Joseph R. Nachman sold 5,000 shares of the stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $35.69, for a total value of $178,450.00. Following the transaction, the chief operating officer now owns 119,072 shares in the company, valued at $4,249,679.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Geoffrey L. Donaker sold 26,000 shares of the stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $40.00, for a total value of $1,040,000.00. Following the completion of the transaction, the director now owns 26,000 shares in the company, valued at approximately $1,040,000. The disclosure for this sale can be found here. Insiders sold a total of 183,236 shares of company stock worth $7,370,108 in the last quarter. 11.08% of the stock is owned by corporate insiders.

About Yelp

Yelp Inc (Yelp) connects people with local businesses by bringing word of mouth online and providing a platform for businesses and consumers to engage and transact. The Company provides local business review sites. Yelp provides a platform for consumers to share their everyday local business experiences, through reviews, tips, photos and videos, and engages directly with businesses, through reviews, phone calls and its Message the Business feature.

5 Day Chart for NYSE:YELP

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