Janney Montgomery Scott LLC Purchases 49,643 Shares of Lyft, Inc. (NASDAQ:LYFT)

Janney Montgomery Scott LLC lifted its position in shares of Lyft, Inc. (NASDAQ:LYFTGet Rating) by 84.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 108,083 shares of the ride-sharing company’s stock after purchasing an additional 49,643 shares during the period. Janney Montgomery Scott LLC’s holdings in Lyft were worth $1,423,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Fifth Third Bancorp lifted its position in shares of Lyft by 567.6% during the third quarter. Fifth Third Bancorp now owns 15,648 shares of the ride-sharing company’s stock valued at $206,000 after purchasing an additional 13,304 shares in the last quarter. Granite Investment Partners LLC bought a new position in shares of Lyft during the third quarter valued at about $2,449,000. Strategic Wealth Investment Group LLC lifted its position in shares of Lyft by 20.0% during the third quarter. Strategic Wealth Investment Group LLC now owns 118,927 shares of the ride-sharing company’s stock valued at $1,566,000 after purchasing an additional 19,786 shares in the last quarter. PSI Advisors LLC lifted its position in shares of Lyft by 23.1% during the third quarter. PSI Advisors LLC now owns 6,400 shares of the ride-sharing company’s stock valued at $84,000 after purchasing an additional 1,200 shares in the last quarter. Finally, FinTrust Capital Advisors LLC lifted its position in shares of Lyft by 4,166.7% during the third quarter. FinTrust Capital Advisors LLC now owns 15,360 shares of the ride-sharing company’s stock valued at $202,000 after purchasing an additional 15,000 shares in the last quarter. 79.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on LYFT shares. Wedbush decreased their price objective on shares of Lyft from $25.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, November 8th. Evercore ISI downgraded shares of Lyft from an “outperform” rating to an “in-line” rating and decreased their price objective for the stock from $41.00 to $18.00 in a report on Tuesday, November 8th. Wells Fargo & Company decreased their price objective on shares of Lyft from $42.00 to $30.00 in a report on Wednesday, November 9th. Northcoast Research downgraded shares of Lyft from a “buy” rating to a “neutral” rating in a report on Wednesday, November 9th. Finally, UBS Group reduced their target price on shares of Lyft from $16.00 to $12.00 and set a “neutral” rating for the company in a research note on Tuesday, November 8th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Lyft presently has a consensus rating of “Hold” and a consensus target price of $25.07.

Lyft Trading Down 0.4 %

Shares of LYFT opened at $14.49 on Tuesday. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of -4.05 and a beta of 1.53. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.89. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $45.65. The firm has a 50 day moving average price of $11.43 and a 200-day moving average price of $13.62.

Lyft (NASDAQ:LYFTGet Rating) last announced its quarterly earnings data on Monday, November 7th. The ride-sharing company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.14). The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.05 billion. Lyft had a negative return on equity of 54.39% and a negative net margin of 32.26%. As a group, equities research analysts forecast that Lyft, Inc. will post -1.82 earnings per share for the current year.

Lyft Profile

(Get Rating)

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

Further Reading

Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

Receive News & Ratings for Lyft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyft and related companies with MarketBeat.com's FREE daily email newsletter.