Short Interest in Yelp Inc (NYSE:YELP) Drops By 15.7%

Yelp Inc (NYSE:YELP) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 9,070,000 shares, a decline of 15.7% from the August 30th total of 10,760,000 shares. Currently, 13.6% of the company’s shares are short sold. Based on an average daily trading volume, of 1,370,000 shares, the short-interest ratio is currently 6.6 days.

Several hedge funds have recently bought and sold shares of YELP. Meeder Asset Management Inc. raised its stake in shares of Yelp by 271.5% during the second quarter. Meeder Asset Management Inc. now owns 1,371 shares of the local business review company’s stock worth $47,000 after purchasing an additional 1,002 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Yelp by 379.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,603 shares of the local business review company’s stock worth $55,000 after purchasing an additional 1,269 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in shares of Yelp during the second quarter worth approximately $78,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Yelp by 89.0% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,663 shares of the local business review company’s stock worth $91,000 after purchasing an additional 1,254 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in shares of Yelp by 126.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 4,786 shares of the local business review company’s stock worth $162,000 after purchasing an additional 2,668 shares during the last quarter. 92.72% of the stock is owned by institutional investors and hedge funds.

YELP traded up $0.27 on Tuesday, reaching $33.08. The company’s stock had a trading volume of 45,185 shares, compared to its average volume of 996,259. The stock has a 50 day moving average of $34.07 and a two-hundred day moving average of $34.42. The company has a quick ratio of 3.91, a current ratio of 3.91 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 73.53, a P/E/G ratio of 2.32 and a beta of 0.98. Yelp has a fifty-two week low of $29.33 and a fifty-two week high of $45.45.

Yelp (NYSE:YELP) last posted its quarterly earnings data on Thursday, August 8th. The local business review company reported $0.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.04. The business had revenue of $246.96 million during the quarter, compared to the consensus estimate of $247.63 million. Yelp had a return on equity of 4.62% and a net margin of 6.26%. The company’s revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 earnings per share. As a group, analysts anticipate that Yelp will post 0.67 earnings per share for the current fiscal year.

Several analysts recently issued reports on YELP shares. DA Davidson restated a “buy” rating on shares of Yelp in a report on Friday, August 9th. Morgan Stanley reduced their price objective on shares of Yelp from $32.00 to $31.00 and set an “underweight” rating on the stock in a report on Tuesday. Evercore ISI set a $38.00 price objective on shares of Yelp and gave the company a “hold” rating in a report on Friday, August 9th. Oppenheimer reiterated a “hold” rating on shares of Yelp in a research note on Friday, August 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $44.00 price target (up from $42.00) on shares of Yelp in a research note on Friday, August 9th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. Yelp presently has an average rating of “Hold” and an average target price of $38.79.

Yelp Company Profile

Yelp Inc operates a platform that connects consumers with local businesses in the United States, Canada, and internationally. The company's platform covers various local business categories, including restaurants, shopping, beauty and fitness, arts, entertainment and events, home and local services, health, nightlife, travel and hotel, auto, and others.

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