Bayforest Capital Ltd Has $346,000 Stake in Lyft, Inc. $LYFT

Key Points

• Bayforest Capital Ltd significantly increased its investment in Lyft, Inc. by 151.1%, now holding 21,933 shares valued at $346,000.
• Lyft reported a missed earnings estimate for the last quarter, with earnings per share at $0.10, falling short of the expected $0.27, alongside a revenue of $1.59 billion.
• Insiders showed mixed actions, with CFO Erin Brewer selling 15,000 shares while CEO John David Risher acquired 5,926 shares of the company.

Bayforest Capital Ltd lifted its stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 151.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,933 shares of the ride-sharing company's stock after purchasing an additional 13,199 shares during the period. Bayforest Capital Ltd's holdings in Lyft were worth $346,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LYFT. MassMutual Private Wealth & Trust FSB lifted its position in shares of Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company's stock worth $31,000 after purchasing an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. acquired a new position in shares of Lyft during the second quarter worth approximately $32,000. GAMMA Investing LLC lifted its position in shares of Lyft by 81.4% during the first 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 in the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Lyft during the first quarter worth approximately $35,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Lyft during the first quarter worth approximately $35,000. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Trading Down 0.6%

LYFT opened at $20.00 on Thursday. The firm's fifty day moving average is $18.61 and its two-hundred day moving average is $15.70. 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 firm has a market cap of $8.13 billion, a PE ratio of 83.34, a price-to-earnings-growth ratio of 3.62 and a beta of 2.40. Lyft, Inc. has a twelve month low of $9.66 and a twelve month high of $23.50.

Lyft (NASDAQ:LYFT - Get Free Report) last posted 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). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. Lyft had a return on equity of 14.32% and a net margin of 1.51%.The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share. Equities research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction on Wednesday, September 3rd. The shares were 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 owned 525,759 shares of the company's stock, valued at $9,064,085.16. This represents a 2.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John David Risher acquired 5,926 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were bought at an average cost of $16.88 per share, with a total value of $100,030.88. Following the transaction, the chief executive officer directly owned 11,797,266 shares of the company's stock, valued at $199,137,850.08. This represents a 0.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 74,427 shares of company stock worth $1,252,686. Company insiders own 3.07% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LYFT shares. 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 research report on Thursday, September 18th. Susquehanna cut their price objective on shares of Lyft from $18.00 to $14.00 and set a "neutral" rating on the stock in a report on Monday, August 11th. BMO Capital Markets increased their price objective on shares of Lyft from $16.00 to $20.00 and gave the company a "market perform" rating in a report on Thursday, September 18th. Cowen restated a "buy" rating on shares of Lyft in a report on Wednesday, September 24th. Finally, Guggenheim assumed coverage on shares of Lyft in a report on Tuesday. They issued a "buy" rating and a $22.00 price objective on the stock. Eleven investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $19.12.

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.

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