Advisors Asset Management Inc. Increases Stake in Lyft, Inc. $LYFT

Advisors Asset Management Inc. lifted its holdings in Lyft, Inc. (NASDAQ:LYFT) by 71.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,850 shares of the ride-sharing company’s stock after purchasing an additional 4,531 shares during the quarter. Advisors Asset Management Inc.’s holdings in Lyft were worth $129,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Spurstone Advisory Services LLC purchased a new position in shares of Lyft in the fourth quarter valued at $25,000. GAMMA Investing LLC grew its holdings in shares of Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after purchasing an additional 1,237 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Lyft in the first quarter valued at $35,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Lyft in the first quarter valued at $35,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Lyft by 79.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company’s stock valued at $46,000 after purchasing an additional 1,769 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lyft

In other news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $17.24, for a total transaction of $258,600.00. Following the completion of the sale, the chief financial officer directly owned 525,759 shares in the company, valued at approximately $9,064,085.16. This trade represents a 2.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of Lyft stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $15.85, for a total value of $449,442.60. Following the sale, the insider owned 850,388 shares of the company’s stock, valued at approximately $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,821 shares of company stock worth $960,566. 3.07% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on LYFT shares. Canaccord Genuity Group cut their target price on shares of Lyft from $14.00 to $11.00 and set a “hold” rating for the company in a report on Thursday, August 7th. Morgan Stanley raised their target price on shares of Lyft from $19.00 to $20.50 and gave the company an “equal weight” rating in a report on Thursday. Tigress Financial reissued a “buy” rating and issued a $28.00 target price (up from $26.00) on shares of Lyft in a report on Wednesday, May 21st. Susquehanna dropped their price objective on shares of Lyft from $18.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, August 11th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $21.00 price objective on shares of Lyft in a research note on Thursday, June 5th. Nine research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Lyft presently has a consensus rating of “Hold” and a consensus target price of $17.07.

Lyft Stock Up 1.6%

NASDAQ LYFT opened at $18.62 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72. The company has a fifty day moving average of $15.52 and a two-hundred day moving average of $14.22. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 77.59, a PEG ratio of 2.87 and a beta of 2.33. Lyft, Inc. has a 52 week low of $9.66 and a 52 week high of $19.35.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a return on equity of 14.32% and a net margin of 1.51%.The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter last year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.