28,961 Shares in Lyft, Inc. (NASDAQ:LYFT) Acquired by Brookwood Investment Group LLC

Key Points

• Brookwood Investment Group LLC acquired 28,961 shares of Lyft, Inc., valued at approximately $344,000, highlighting ongoing institutional interest in the company.
• Renaissance Technologies LLC significantly increased its holdings in Lyft by 282.0% during the 4th quarter, now owning over 8.6 million shares valued at $111 million.
• As of the latest reports, Lyft has a market cap of $5.98 billion and an average stock rating of "Hold" with a consensus target price of $16.95.

Brookwood Investment Group LLC acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 28,961 shares of the ride-sharing company's stock, valued at approximately $344,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its holdings in Lyft by 282.0% during the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock worth $111,240,000 after acquiring an additional 6,365,727 shares during the last quarter. Federated Hermes Inc. grew its holdings in Lyft by 1,957.5% during the 4th quarter. Federated Hermes Inc. now owns 288,827 shares of the ride-sharing company's stock worth $3,726,000 after acquiring an additional 274,789 shares during the last quarter. Meridiem Capital Partners LP bought a new stake in Lyft during the 4th quarter worth approximately $11,571,000. Capital World Investors grew its holdings in Lyft by 49.4% during the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company's stock worth $87,404,000 after acquiring an additional 2,240,478 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in Lyft during the 4th quarter worth approximately $1,221,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on LYFT shares. Wells Fargo & Company upped their price objective on shares of Lyft from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Tigress Financial reaffirmed a "buy" rating and issued a $28.00 price objective (up from $26.00) on shares of Lyft in a research note on Wednesday, May 21st. Susquehanna upped their price objective on shares of Lyft from $15.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, May 12th. JPMorgan Chase & Co. upped their price objective on shares of Lyft from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Citigroup reaffirmed a "hold" rating and issued a $14.00 price objective (down from $22.00) on shares of Lyft in a research note on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $16.95.

Lyft Stock Performance

Shares of LYFT stock opened at $14.30 on Friday. The firm has a 50-day moving average of $15.43 and a 200-day moving average of $13.70. The company has a market cap of $5.98 billion, a P/E ratio of 95.33, a P/E/G ratio of 2.82 and a beta of 2.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.77 and a quick ratio of 0.77. Lyft, Inc. has a one year low of $8.93 and a one year high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.19). The firm had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.47 billion. Lyft had a net margin of 0.95% and a return on equity of 11.28%. The business's revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. Equities research analysts forecast that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Insider Activity

In other news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $15.80, for a total value of $38,299.20. Following the completion of the sale, the director owned 879,498 shares in the company, valued at $13,896,068.40. This represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jill Beggs sold 1,572 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total transaction of $25,796.52. Following the completion of the sale, the director owned 20,467 shares of the company's stock, valued at approximately $335,863.47. This represents a 7.13% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,732 shares of company stock worth $347,159. Company insiders own 3.07% of the company's stock.

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.

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