SRH Advisors LLC Buys Shares of 3,925 Lyft, Inc. $LYFT

SRH Advisors LLC bought a new stake in Lyft, Inc. (NASDAQ:LYFT) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,925 shares of the ride-sharing company’s stock, valued at approximately $62,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Lyft by 5.7% in the first quarter. Vanguard Group Inc. now owns 38,049,250 shares of the ride-sharing company’s stock worth $451,645,000 after buying an additional 2,046,639 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Lyft by 26.3% in the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company’s stock worth $294,978,000 after buying an additional 5,178,118 shares during the last quarter. Rakuten Group Inc. acquired a new stake in shares of Lyft in the first quarter worth $130,434,000. AQR Capital Management LLC lifted its stake in shares of Lyft by 103.3% in the first quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company’s stock worth $110,598,000 after buying an additional 4,980,876 shares during the last quarter. Finally, Invenomic Capital Management LP lifted its stake in shares of Lyft by 75.2% in the first quarter. Invenomic Capital Management LP now owns 3,587,553 shares of the ride-sharing company’s stock worth $42,584,000 after buying an additional 1,539,388 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on LYFT shares. Jefferies Financial Group boosted their target price on shares of Lyft from $15.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, September 18th. Roth Capital raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Thursday, August 7th. Canaccord Genuity Group upped their target price on shares of Lyft from $11.00 to $18.00 and gave the stock a “hold” rating in a report on Thursday, September 18th. Oppenheimer upped their target price on shares of Lyft from $17.00 to $24.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Lyft in a report on Saturday, September 27th. Ten analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lyft has a consensus rating of “Hold” and a consensus price target of $19.02.

Insider Buying and Selling

In other Lyft news, CEO John David Risher bought 5,926 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was acquired at an average cost 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 in the company, valued at $199,137,850.08. This trade represents a 0.05% increase 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 14,606 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $20.00, for a total value of $292,120.00. Following the sale, the insider directly owned 835,782 shares of the company’s stock, valued at approximately $16,715,640. The trade was a 1.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 74,427 shares of company stock valued at $1,252,686. 3.07% of the stock is owned by corporate insiders.

Lyft Price Performance

NASDAQ LYFT opened at $21.99 on Monday. The business has a 50 day simple moving average of $17.60 and a 200 day simple moving average of $15.29. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $23.50. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 91.63, a PEG ratio of 3.44 and a beta of 2.40.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company posted $0.24 earnings per share. Lyft’s revenue for the quarter was up 10.6% compared to the same quarter last year. Analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

About Lyft

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.