Campbell Capital Management Inc. Acquires New Position in Lyft, Inc. (NASDAQ:LYFT)

Key Points

• Campbell Capital Management Inc. invested approximately $1.16 million in Lyft, acquiring 97,740 shares, which constitutes about 0.7% of its portfolio.
• Multiple institutional investors have recently adjusted their positions in Lyft, with hedge funds collectively owning 83.07% of the company's stock.
• Lyft's latest earnings report showed a revenue increase of 13.5% year-over-year, although it missed analysts' EPS estimates by $0.19.

Campbell Capital Management Inc. bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 97,740 shares of the ride-sharing company's stock, valued at approximately $1,160,000. Lyft accounts for about 0.7% of Campbell Capital Management Inc.'s investment portfolio, making the stock its 20th largest position.

A number of other institutional investors also recently modified their holdings of the stock. Spurstone Advisory Services LLC bought a new position in shares of Lyft in the fourth quarter valued at approximately $25,000. GAMMA Investing LLC increased its stake in shares of Lyft by 81.4% during 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 last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Lyft in the first quarter worth $35,000. FNY Investment Advisers LLC bought a new stake in Lyft in the 1st quarter valued at about $35,000. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Lyft in the fourth quarter valued at approximately $41,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Lyft Stock Down 5.5%

Shares of Lyft stock traded down $0.79 during midday trading on Friday, hitting $13.42. The company had a trading volume of 24,297,227 shares, compared to its average volume of 17,530,690. The company has a 50 day moving average of $15.03 and a 200 day moving average of $13.75. The stock has a market capitalization of $5.61 billion, a P/E ratio of 55.93, a P/E/G ratio of 2.79 and a beta of 2.26. Lyft, Inc. has a 52-week low of $9.53 and a 52-week high of $19.07. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 0.77.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.17). Lyft had a return on equity of 14.22% and a net margin of 1.51%. The firm had revenue of $1.59 billion during the quarter, compared to analysts' expectations of $1.61 billion. During the same period last year, the firm posted $0.24 earnings per share. The firm's quarterly revenue was up 10.6% on a year-over-year basis. On average, equities analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Insider Activity at Lyft

In other news, Director Jill Beggs sold 1,572 shares of the firm's 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 sale, the director owned 20,467 shares of the company's stock, valued at $335,863.47. This trade represents a 7.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John David Risher bought 6,538 shares of the business's stock in a transaction on Thursday, May 29th. The stock was bought at an average cost of $15.29 per share, with a total value of $99,966.02. Following the transaction, the chief executive officer owned 11,791,340 shares in the company, valued at $180,289,588.60. This trade represents a 0.06% increase in their position. The disclosure for this purchase can be found here. 3.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

LYFT has been the topic of a number of recent research reports. Oppenheimer dropped their price objective on Lyft from $20.00 to $17.00 and set an "outperform" rating on the stock in a report on Thursday. Susquehanna upped their target price on shares of Lyft from $15.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, May 12th. BMO Capital Markets reiterated a "market perform" rating and set a $16.00 price target (up from $15.00) on shares of Lyft in a research report on Thursday. Citigroup reaffirmed a "hold" rating and set a $14.00 price objective (down from $22.00) on shares of Lyft in a research note on Friday, June 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Lyft from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Lyft presently has a consensus rating of "Hold" and a consensus target price of $16.64.

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.