Lecap Asset Management Ltd. Invests $1.18 Million in Lyft, Inc. $LYFT

Key Points

• Lecap Asset Management Ltd. has invested approximately $1.18 million in Lyft, acquiring 74,755 shares in the second quarter, further demonstrating interest from institutional investors in the ride-sharing company.
• Multiple institutional investors have significantly increased their positions in Lyft, with 83.07% of the stock now owned by institutional and hedge fund investors.
• Lyft's latest quarterly earnings report showed a net margin of 1.51% and revenue growth of 10.6% year-over-year, although the company's earnings per share fell short of analyst expectations.

Lecap Asset Management Ltd. acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 74,755 shares of the ride-sharing company's stock, valued at approximately $1,178,000.

Several other institutional investors and hedge funds also recently modified their holdings of LYFT. Rakuten Group Inc. acquired a new position in shares of Lyft during the first quarter worth about $130,434,000. Ameriprise Financial Inc. boosted its position in shares of Lyft by 26.3% during the first quarter. Ameriprise Financial Inc. now owns 24,849,205 shares of the ride-sharing company's stock worth $294,978,000 after buying an additional 5,178,118 shares during the period. AQR Capital Management LLC boosted its position in shares of Lyft by 103.3% during the first quarter. AQR Capital Management LLC now owns 9,804,782 shares of the ride-sharing company's stock worth $110,598,000 after buying an additional 4,980,876 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Lyft by 83,744.1% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 3,144,991 shares of the ride-sharing company's stock worth $37,331,000 after buying an additional 3,141,240 shares during the period. Finally, Nuveen LLC bought a new stake in Lyft during the first quarter worth about $31,143,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lyft

In other Lyft news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $15.24, for a total transaction of $228,600.00. Following the completion of the transaction, the chief financial officer owned 540,759 shares in the company, valued at approximately $8,241,167.16. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $15.85, for a total value of $449,442.60. Following the completion of the transaction, the insider owned 850,388 shares in the company, valued at $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 quarter, insiders sold 74,427 shares of company stock worth $1,252,686. Insiders own 3.07% of the company's stock.

Lyft Price Performance

Lyft stock opened at $21.82 on Thursday. The stock's 50 day moving average is $17.28 and its 200 day moving average is $15.09. Lyft, Inc. has a one year low of $9.66 and a one year high of $23.50. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. The firm has a market cap of $8.87 billion, a P/E ratio of 90.92, a P/E/G ratio of 3.44 and a beta of 2.40.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on LYFT. Roth Capital upgraded Lyft from a "neutral" rating to a "buy" rating and set a $19.00 target price on the stock in a report on Thursday, August 7th. Wells Fargo & Company upped their price objective on Lyft from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Friday, September 5th. Canaccord Genuity Group upped their price objective on Lyft from $11.00 to $18.00 and gave the company a "hold" rating in a research note on Thursday, September 18th. Sanford C. Bernstein upped their price objective on Lyft from $16.00 to $18.00 and gave the company a "market perform" rating in a research note on Monday, July 21st. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Lyft from $16.00 to $21.00 and gave the company a "hold" rating in a research report on Thursday, September 18th. Ten research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $19.02.

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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