Cornercap Investment Counsel Inc. Sells 18,827 Shares of Yelp Inc. (NYSE:YELP)

Cornercap Investment Counsel Inc. trimmed its position in Yelp Inc. (NYSE:YELP - Free Report) by 57.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,203 shares of the local business review company's stock after selling 18,827 shares during the period. Cornercap Investment Counsel Inc.'s holdings in Yelp were worth $498,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Yelp by 24.7% in the 2nd quarter. CWM LLC now owns 1,903 shares of the local business review company's stock worth $70,000 after purchasing an additional 377 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Yelp by 54.5% in the third quarter. Exchange Traded Concepts LLC now owns 1,148 shares of the local business review company's stock valued at $40,000 after buying an additional 405 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Yelp by 262.8% in the second 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. GAMMA Investing LLC lifted its position in shares of Yelp by 115.9% during the 3rd quarter. GAMMA Investing LLC now owns 976 shares of the local business review company's stock valued at $34,000 after acquiring an additional 524 shares during the last quarter. Finally, Signaturefd LLC boosted 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 worth $41,000 after acquiring an additional 583 shares in the last quarter. 90.11% of the stock is owned by institutional investors.

Yelp Stock Performance

YELP stock opened at $35.95 on Friday. The firm has a 50 day simple moving average of $34.58 and a 200 day simple moving average of $35.61. Yelp Inc. has a 52 week low of $32.56 and a 52 week high of $48.99. The stock has a market cap of $2.41 billion, a P/E ratio of 21.53, a P/E/G ratio of 0.66 and a beta of 1.33.

Insiders Place Their Bets

In related news, COO Joseph R. Nachman sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $34.02, for a total transaction of $238,140.00. Following the transaction, the chief operating officer now owns 255,558 shares of the company's stock, valued at approximately $8,694,083.16. This trade represents a 2.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $490,637.18. Following the completion of the sale, the insider now owns 88,813 shares of the company's stock, valued at $3,389,992.21. This trade represents a 12.64 % 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 quarter. 7.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

YELP has been the topic of a number of recent analyst reports. Bank of America assumed 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. The Goldman Sachs Group downgraded Yelp from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $46.00 to $38.00 in a report on Monday, October 14th. 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 report on Tuesday, July 23rd. StockNews.com upgraded shares of Yelp from a "buy" rating to a "strong-buy" rating in a report on Monday, November 11th. Finally, Robert W. Baird decreased their price objective on shares of Yelp from $39.00 to $37.00 and set a "neutral" rating for the company in a research note on Friday, November 8th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $37.00.

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.