Chicago Partners Investment Group LLC Acquires 19,789 Shares of Lyft, Inc. $LYFT

Chicago Partners Investment Group LLC boosted its stake in Lyft, Inc. (NASDAQ:LYFT) by 155.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,544 shares of the ride-sharing company’s stock after acquiring an additional 19,789 shares during the period. Chicago Partners Investment Group LLC’s holdings in Lyft were worth $479,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Lyft by 81.4% in the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock worth $33,000 after purchasing an additional 1,237 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Lyft by 70.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 146,038 shares of the ride-sharing company’s stock worth $1,733,000 after acquiring an additional 60,438 shares during the period. Creative Financial Designs Inc. ADV increased its holdings in Lyft by 11.3% during the 1st quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company’s stock worth $107,000 after acquiring an additional 914 shares during the period. Diversified Trust Co bought a new stake in Lyft during the 1st quarter worth approximately $282,000. Finally, Illinois Municipal Retirement Fund bought a new stake in Lyft during the 1st quarter worth approximately $1,094,000. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Down 1.8%

Shares of NASDAQ LYFT opened at $20.26 on Thursday. Lyft, Inc. has a one year low of $9.66 and a one year high of $23.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. The firm’s 50 day simple moving average is $19.23 and its two-hundred day simple moving average is $15.98. The stock has a market capitalization of $8.23 billion, a P/E ratio of 84.42, a PEG ratio of 3.72 and a beta of 2.40.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.17). Lyft had a net margin of 1.51% and a return on equity of 14.32%. The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. The firm’s revenue was up 10.6% on a year-over-year basis. As a group, analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity at Lyft

In other news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $15.85, for a total transaction of $449,442.60. Following the transaction, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total value of $228,600.00. Following the transaction, the chief financial officer directly owned 540,759 shares in the company, valued at $8,241,167.16. This trade represents a 2.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 74,427 shares of company stock valued at $1,252,686. Insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LYFT shares. Citigroup reaffirmed a “hold” rating and issued a $14.00 price target (down previously from $22.00) on shares of Lyft in a report on Friday, June 27th. Jefferies Financial Group upped their target price on Lyft from $15.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, September 18th. Mizuho initiated coverage on Lyft in a research note on Tuesday, September 30th. They issued a “neutral” rating and a $24.00 target price on the stock. Morgan Stanley upped their price objective on shares of Lyft from $19.00 to $20.50 and gave the stock an “equal weight” rating in a research report on Thursday, September 11th. Finally, Canaccord Genuity Group upped their price objective on shares of Lyft from $11.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Lyft currently has a consensus rating of “Hold” and a consensus price target of $19.25.

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.