Kayne Anderson Rudnick Investment Management LLC Purchases 20,606 Shares of Lyft, Inc. $LYFT

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Lyft by 655.8%, purchasing an additional 20,606 shares and bringing its total to 23,748 shares, valued at approximately $282,000.
• Lyft's recent quarterly earnings results showed a reported earnings per share of $0.10, which missed analysts' expectations of $0.27, while revenue was $1.59 billion, slightly below forecasts of $1.61 billion.
• Analysts have mixed ratings on Lyft, with a consensus rating of "Hold" and an average price target of $16.83, with various price targets ranging from $14.00 to $21.00.

Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 655.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,748 shares of the ride-sharing company's stock after buying an additional 20,606 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Lyft were worth $282,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of LYFT. Spurstone Advisory Services LLC purchased a new stake in shares of Lyft in the 4th quarter worth $25,000. GAMMA Investing LLC increased its stake in shares of Lyft by 81.4% in 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 in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of Lyft in the 1st quarter worth $35,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Lyft in the 1st quarter worth $35,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Lyft by 79.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,982 shares of the ride-sharing company's stock worth $46,000 after purchasing an additional 1,769 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

Lyft Price Performance

Shares of Lyft stock traded up $0.08 during trading on Monday, reaching $16.22. 17,103,169 shares of the stock traded hands, compared to its average volume of 21,864,066. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 67.59, a P/E/G ratio of 2.65 and a beta of 2.33. The business has a fifty day simple moving average of $15.17 and a two-hundred day simple moving average of $13.94. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.27 by ($0.17). The firm had revenue of $1.59 billion for the quarter, compared to analysts' expectations of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 EPS. Sell-side analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Transactions at Lyft

In related news, CFO Erin Brewer sold 15,000 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total value of $228,600.00. Following the completion of the transaction, the chief financial officer owned 540,759 shares of the company's stock, valued at approximately $8,241,167.16. This trade represents a 2.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the transaction, the insider directly owned 850,388 shares of the company's stock, valued at approximately $13,478,649.80. The trade was a 3.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,821 shares of company stock valued at $701,966. 3.07% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Needham & Company LLC restated a "hold" rating on shares of Lyft in a research note on Friday, May 9th. Wells Fargo & Company upped their price objective on Lyft from $14.00 to $15.00 and gave the stock an "equal weight" rating in a research note on Friday, August 8th. Susquehanna cut their price target on Lyft from $18.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, August 11th. Roth Capital upgraded Lyft from a "neutral" rating to a "buy" rating and set a $19.00 price target for the company in a research note on Thursday, August 7th. Finally, Oppenheimer cut their price target on Lyft from $20.00 to $17.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Nine investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $16.83.

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.