Heartland Advisors Inc. Purchases New Position in Lyft, Inc. (NASDAQ:LYFT)

Key Points

• Heartland Advisors Inc. acquired 153,550 shares of Lyft, valued at approximately $1.82 million, during the first quarter.
• Insider transactions included Director Jill Beggs selling 1,572 shares while CEO John David Risher purchased 6,538 shares, indicating varied insider confidence in the stock.
• Lyft reported a net earnings miss for the last quarter with $0.01 earnings per share, which fell short of analysts' estimates of $0.20.

Heartland Advisors Inc. acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 153,550 shares of the ride-sharing company's stock, valued at approximately $1,823,000.

Several other hedge funds also recently modified their holdings of LYFT. Spurstone Advisory Services LLC bought a new position in shares of Lyft in the fourth quarter valued at about $25,000. GAMMA Investing LLC grew its holdings in 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 acquiring an additional 1,237 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Lyft in the 1st quarter valued at about $35,000. FNY Investment Advisers LLC bought a new position in shares of Lyft in the first quarter worth about $35,000. Finally, Kayne Anderson Rudnick Investment Management LLC acquired a new position in shares of Lyft during the fourth quarter worth approximately $41,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Insider Buying and Selling

In other news, Director Jill Beggs sold 1,572 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total transaction of $25,796.52. Following the transaction, the director owned 20,467 shares of the company's stock, valued at $335,863.47. This represents a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John David Risher bought 6,538 shares of the business's stock in a transaction on Thursday, May 29th. The shares were acquired at an average price of $15.29 per share, with a total value of $99,966.02. Following the transaction, the chief executive officer directly owned 11,791,340 shares of the company's stock, valued at approximately $180,289,588.60. This trade represents a 0.06% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 26,732 shares of company stock valued at $347,159 in the last 90 days. Insiders own 3.07% of the company's stock.

Lyft Trading Down 0.6%

LYFT opened at $14.30 on Friday. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 95.33, a PEG ratio of 2.82 and a beta of 2.20. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.07. The company's 50 day moving average price is $15.43 and its two-hundred day moving average price is $13.70. 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 issued its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). Lyft had a return on equity of 11.28% and a net margin of 0.95%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company's revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LYFT. UBS Group lifted their price objective on Lyft from $12.00 to $14.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Wells Fargo & Company raised their target price 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. Citigroup reiterated a "hold" rating and set a $14.00 price target (down previously from $22.00) on shares of Lyft in a research report on Friday, June 27th. Barclays increased their price objective on shares of Lyft from $19.00 to $20.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Finally, Bank of America cut shares of Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price objective on the stock. in a research note on Thursday, April 3rd. 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $16.95.

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.

Want to see what other hedge funds are holding LYFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lyft, Inc. (NASDAQ:LYFT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.