Caesars Entertainment misses Q2 earnings expectations, shares edge lower
SAN FRANCISCO—Joseph R. Nachman, Chief Operating Officer of Yelp Inc. (NYSE:YELP), recently sold a significant portion of the company's stock. The transaction comes as Yelp maintains excellent financial health, with InvestingPro data showing a perfect Piotroski Score of 9 and industry-leading gross profit margins of 91%. According to an SEC filing, Nachman sold 7,000 shares on January 6, 2025, at a weighted average price of $39.9151 per share. The sales were conducted under a 10b5-1 trading plan, which Nachman adopted on March 5, 2024. InvestingPro analysis indicates that Yelp is currently trading below its Fair Value, with strong liquidity evidenced by a current ratio of 3.46.
The shares were sold in multiple transactions, with prices ranging from $39.70 to $40.28. Following this transaction, Nachman retains ownership of 222,273 shares of Yelp. This move is part of a planned strategy and reflects continued activity by insiders at the company. For deeper insights into insider transactions and comprehensive financial analysis, access Yelp's detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, Yelp Inc. has made significant strides in expanding its services. The company recently finalized the acquisition of auto service platform RepairPal in an $80 million cash transaction. This strategic move is expected to broaden Yelp's range of services by incorporating a reliable auto repair component into its local business platform.
On the financial front, Yelp reported mixed results for the third quarter of 2024. Despite declines in restaurant, retail, and other categories, the company achieved a record net revenue of $360 million, marking a 4% increase year-over-year. Notably, Yelp's Services revenue grew by 11%, while the Home services segment revenue saw a 15% rise, driven by a 25% increase in requests for quotes.
In addition, Yelp continued its share repurchases, buying back $62.5 million worth of shares in the third quarter. The company has projected its full-year net revenue to be between $1.397 billion and $1.402 billion, with adjusted EBITDA expected to range from $341 million to $346 million. These recent developments highlight Yelp's commitment to navigate a challenging market while pursuing growth through strategic investments and acquisitions.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.