Wealth Enhancement Advisory Services LLC Increases Stock Position in Lyft, Inc. $LYFT

Wealth Enhancement Advisory Services LLC raised its holdings in Lyft, Inc. (NASDAQ:LYFT) by 153.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 370,197 shares of the ride-sharing company’s stock after purchasing an additional 224,159 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.09% of Lyft worth $5,979,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantinno Capital Management LP acquired a new position in shares of Lyft during the 4th quarter worth approximately $157,000. Voloridge Investment Management LLC raised its position in shares of Lyft by 722.6% during the 4th quarter. Voloridge Investment Management LLC now owns 211,161 shares of the ride-sharing company’s stock worth $2,724,000 after purchasing an additional 185,490 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of Lyft during the 4th quarter worth approximately $279,000. Forum Financial Management LP acquired a new position in shares of Lyft during the 4th quarter worth approximately $132,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Lyft during the 4th quarter worth approximately $2,395,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lyft

In other news, CEO John David Risher acquired 5,926 shares of the firm’s stock in a transaction that occurred on Wednesday, September 3rd. The stock was purchased at an average price of $16.88 per share, with a total value of $100,030.88. Following the purchase, the chief executive officer owned 11,797,266 shares of the company’s stock, valued at approximately $199,137,850.08. This trade represents a 0.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 14,606 shares of the firm’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $20.00, for a total transaction of $292,120.00. Following the completion of the transaction, the insider directly owned 835,782 shares of the company’s stock, valued at $16,715,640. This represents a 1.72% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,427 shares of company stock valued at $1,252,686 over the last ninety days. Insiders own 3.07% of the company’s stock.

Lyft Stock Performance

Shares of Lyft stock opened at $22.06 on Thursday. The firm has a market cap of $8.97 billion, a PE ratio of 91.92, a price-to-earnings-growth ratio of 3.46 and a beta of 2.33. The firm’s 50-day simple moving average is $16.55 and its 200-day simple moving average is $14.73. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. Lyft, Inc. has a 1 year low of $9.66 and a 1 year high of $23.50.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data 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 analyst estimates of $1.61 billion. During the same quarter last year, the company earned $0.24 EPS. Lyft’s revenue was up 10.6% compared to the same quarter last year. Equities analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several research reports. Roth Capital upgraded Lyft from a “neutral” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Thursday, August 7th. Benchmark lifted their target price on shares of Lyft from $20.00 to $26.00 and gave the stock a “buy” rating in a research note on Monday. BMO Capital Markets lifted their target price on shares of Lyft from $16.00 to $20.00 and gave the stock a “market perform” rating in a research note on Thursday, September 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $21.00 target price on shares of Lyft in a research note on Thursday, June 5th. Finally, Oppenheimer lifted their target price on shares of Lyft from $17.00 to $24.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Ten investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Lyft has an average rating of “Hold” and a consensus target price of $18.84.

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.