Entropy Technologies LP Acquires New Position in Yelp Inc. (NYSE:YELP)

Entropy Technologies LP acquired a new stake in shares of Yelp Inc. (NYSE:YELP - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,571 shares of the local business review company's stock, valued at approximately $546,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D lifted its position in Yelp by 11.0% during the third quarter. State of New Jersey Common Pension Fund D now owns 57,065 shares of the local business review company's stock valued at $2,002,000 after buying an additional 5,662 shares during the period. Meritage Portfolio Management raised its position in shares of Yelp by 9.4% in the 3rd quarter. Meritage Portfolio Management now owns 14,573 shares of the local business review company's stock worth $511,000 after purchasing an additional 1,253 shares during the last quarter. Covestor Ltd raised its position in shares of Yelp by 24.2% in the 3rd quarter. Covestor Ltd now owns 7,069 shares of the local business review company's stock worth $248,000 after purchasing an additional 1,377 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Yelp in the 3rd quarter worth about $364,000. Finally, Asset Management One Co. Ltd. purchased a new position in shares of Yelp in the 3rd quarter worth about $54,000. Hedge funds and other institutional investors own 90.11% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on YELP. StockNews.com raised Yelp from a "buy" rating to a "strong-buy" rating in a research report on Monday, November 11th. Evercore ISI raised Yelp to a "hold" rating in a research report on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on Yelp from $38.00 to $35.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. Bank of America started coverage on Yelp in a research report on Monday, September 16th. They issued an "underperform" rating and a $30.00 target price for the company. Finally, Morgan Stanley boosted their target price on Yelp from $32.00 to $34.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $37.00.

Yelp Stock Down 1.3 %

Shares of Yelp stock traded down $0.48 during trading hours on Friday, reaching $35.95. 577,254 shares of the stock traded hands, compared to its average volume of 784,964. The company has a 50 day moving average price of $34.58 and a 200 day moving average price of $35.65. The firm has a market capitalization of $2.41 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 0.67 and a beta of 1.33. Yelp Inc. has a one year low of $32.56 and a one year high of $48.99.

Insider Buying and Selling at Yelp

In other Yelp news, CTO Sam Eaton sold 10,776 shares of the business'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 completion of the sale, the chief technology officer now directly owns 145,171 shares in the company, valued at $5,080,985. The trade was a 6.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Joseph R. Nachman sold 7,000 shares of the business's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $34.02, for a total value of $238,140.00. Following the sale, the chief operating officer now owns 255,558 shares of the company's stock, valued at approximately $8,694,083.16. This represents a 2.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,630 shares of company stock worth $1,105,937 in the last three months. 7.40% of the stock is currently owned by company insiders.

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.