GAMMA Investing LLC Increases Position in Lyft, Inc. (NASDAQ:LYFT)

GAMMA Investing LLC increased its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 2,053.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,714 shares of the ride-sharing company's stock after purchasing an additional 31,195 shares during the period. GAMMA Investing LLC's holdings in Lyft were worth $388,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Spurstone Advisory Services LLC bought a new stake in Lyft during the fourth quarter valued at about $25,000. Plato Investment Management Ltd purchased a new stake in shares of Lyft during the fourth quarter worth about $35,000. Harbour Investments Inc. raised its stake in Lyft by 259.7% during the 4th quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock valued at $36,000 after purchasing an additional 2,000 shares during the period. Kayne Anderson Rudnick Investment Management LLC bought a new stake in Lyft during the 4th quarter valued at approximately $41,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in Lyft by 42.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company's stock worth $46,000 after purchasing an additional 1,058 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Insider Transactions at Lyft

In related news, CEO John David Risher acquired 6,538 shares of the 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 now directly owns 11,791,340 shares in the company, valued at approximately $180,289,588.60. This represents a 0.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jill Beggs sold 1,572 shares of Lyft stock in a transaction that occurred on 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 now directly owns 20,467 shares of the company's stock, valued at $335,863.47. This represents a 7.13% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,732 shares of company stock worth $347,159. Insiders own 3.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LYFT. Morgan Stanley reduced their price objective on shares of Lyft from $17.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. KeyCorp restated a "sector weight" rating on shares of Lyft in a research report on Wednesday, March 26th. UBS Group upped their target price on shares of Lyft from $12.00 to $14.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Wall Street Zen lowered shares of Lyft from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Finally, Bank of America lowered shares of Lyft from a "buy" rating to an "underperform" rating and set a $10.50 target price for the company. in a research report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, twenty-six have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $16.40.

Lyft Stock Down 1.7%

Shares of NASDAQ:LYFT opened at $14.69 on Friday. The firm has a market capitalization of $6.14 billion, a PE ratio of 97.93, a price-to-earnings-growth ratio of 2.79 and a beta of 2.22. The business has a 50 day simple moving average of $14.24 and a two-hundred day simple moving average of $13.54. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. 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 (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). Lyft had a net margin of 0.95% and a return on equity of 11.28%. The business had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the previous year, the firm earned $0.15 EPS. Lyft's revenue was up 13.5% compared to the same quarter last year. On average, equities analysts predict that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft Company 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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