Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Yelp Inc. (NYSE:YELP)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Yelp Inc. (NYSE:YELP) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,613 shares of the local business review company’s stock, valued at approximately $267,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. DekaBank Deutsche Girozentrale grew its holdings in Yelp by 424.2% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 17,080 shares of the local business review company’s stock valued at $661,000 after buying an additional 13,822 shares during the period. CWM LLC grew its holdings in Yelp by 24.7% in the second quarter. CWM LLC now owns 1,903 shares of the local business review company’s stock valued at $70,000 after purchasing an additional 377 shares during the period. Blue Trust Inc. increased its position in Yelp by 148.0% during the second quarter. Blue Trust Inc. now owns 2,921 shares of the local business review company’s stock worth $115,000 after purchasing an additional 1,743 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new position in Yelp during the second quarter worth approximately $266,000. Finally, Summit Global Investments boosted its holdings in shares of Yelp by 26.6% in the 2nd quarter. Summit Global Investments now owns 17,074 shares of the local business review company’s stock valued at $631,000 after purchasing an additional 3,583 shares during the last quarter. Hedge funds and other institutional investors own 90.11% of the company’s stock.

Analyst Ratings Changes

YELP has been the topic of a number of recent research reports. The Goldman Sachs Group cut shares of Yelp from a “buy” rating to a “neutral” rating and reduced their price target for the company from $46.00 to $38.00 in a research report on Monday, October 14th. Robert W. Baird decreased their price target on shares of Yelp from $39.00 to $37.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Evercore ISI raised Yelp to a “hold” rating in a report on Monday, November 11th. StockNews.com raised shares of Yelp from a “buy” rating to a “strong-buy” rating in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Yelp from $38.00 to $35.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Yelp has a consensus rating of “Hold” and a consensus target price of $37.00.

Yelp Stock Performance

NYSE:YELP opened at $38.22 on Monday. The firm’s 50-day moving average is $35.19 and its 200-day moving average is $35.44. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 22.89, a PEG ratio of 0.69 and a beta of 1.33. Yelp Inc. has a 52-week low of $32.56 and a 52-week high of $48.99.

Insider Transactions at Yelp

In other news, insider Carmen Amara sold 12,854 shares of Yelp stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 approximately $3,389,992.21. The trade was a 12.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Sam Eaton sold 10,744 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $35.12, for a total value of $377,329.28. Following the completion of the transaction, the chief technology officer now directly owns 122,480 shares in the company, valued at approximately $4,301,497.60. This represents a 8.06 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,598 shares of company stock valued at $1,106,106. Company insiders own 7.40% of the company’s stock.

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 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.