Bank of Montreal Can Sells 83,683 Shares of Yelp Inc. (NYSE:YELP)

Bank of Montreal Can reduced its position in Yelp Inc. (NYSE:YELP - Free Report) by 44.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,416 shares of the local business review company's stock after selling 83,683 shares during the period. Bank of Montreal Can owned about 0.16% of Yelp worth $3,715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in YELP. Fifth Third Bancorp lifted its position in shares of Yelp by 262.8% during the 2nd quarter. Fifth Third Bancorp now owns 664 shares of the local business review company's stock valued at $25,000 after buying an additional 481 shares in the last quarter. Meeder Asset Management Inc. bought a new position in shares of Yelp in the second quarter worth approximately $25,000. GAMMA Investing LLC increased its stake in shares of Yelp by 115.9% in the third quarter. GAMMA Investing LLC now owns 976 shares of the local business review company's stock worth $34,000 after purchasing an additional 524 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Yelp by 54.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company's stock valued at $40,000 after purchasing an additional 405 shares during the period. Finally, Signaturefd LLC lifted its stake in shares of Yelp by 98.5% during the 3rd quarter. Signaturefd LLC now owns 1,175 shares of the local business review company's stock valued at $41,000 after buying an additional 583 shares in the last quarter. 90.11% of the stock is owned by institutional investors.

Yelp Price Performance

Shares of YELP traded down $0.60 during mid-day trading on Thursday, reaching $38.22. 480,156 shares of the company's stock traded hands, compared to its average volume of 727,219. The stock's 50-day moving average is $35.44 and its two-hundred day moving average is $35.46. Yelp Inc. has a 12 month low of $32.56 and a 12 month high of $48.99. The stock has a market cap of $2.52 billion, a P/E ratio of 23.03, a P/E/G ratio of 0.68 and a beta of 1.35.

Wall Street Analyst Weigh In

Several brokerages have recently commented on YELP. JPMorgan Chase & Co. lowered their price objective on Yelp from $38.00 to $35.00 and set a "neutral" rating on the stock in a research report on Monday, August 12th. StockNews.com raised shares of Yelp from a "buy" rating to a "strong-buy" rating in a report on Monday, November 11th. Robert W. Baird lowered their target price on shares of Yelp from $39.00 to $37.00 and set a "neutral" rating on the stock in a report on Friday, November 8th. Evercore ISI upgraded shares of Yelp to a "hold" rating in a research note on Monday, November 11th. Finally, The Goldman Sachs Group downgraded Yelp from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $46.00 to $38.00 in a research note on Monday, October 14th. 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $37.00.

Insiders Place Their Bets

In other Yelp news, CFO David A. Schwarzbach sold 10,000 shares of the company's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $38.29, for a total value of $382,900.00. Following the completion of the sale, the chief financial officer now directly owns 211,988 shares in the company, valued at approximately $8,117,020.52. This represents a 4.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carmen Amara sold 12,854 shares of the firm's stock in a transaction 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 transaction, the insider now owns 88,813 shares in the company, valued at approximately $3,389,992.21. This represents a 12.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 41,865 shares of company stock worth $1,537,218 over the last quarter. 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.