Huber Capital Management LLC Has $10.81 Million Stock Holdings in Lyft, Inc. $LYFT

Key Points

• Huber Capital Management LLC increased its investment in Lyft, acquiring 151,300 additional shares, bringing their total holdings to approximately 910,733 shares, which represent 2.0% of their portfolio.
• Lyft reported earnings of $0.10 per share, missing analysts' expectations of $0.27, while revenue for the quarter amounted to $1.59 billion, below the consensus estimate of $1.61 billion but up 10.6% year-over-year.
• Institutional investors own 83.07% of Lyft's stock, reflecting a growing interest from major investment firms, including significant increases from PNC Financial Services Group and Maxi Investments.

Huber Capital Management LLC increased its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 19.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 910,733 shares of the ride-sharing company's stock after buying an additional 151,300 shares during the period. Lyft comprises about 2.0% of Huber Capital Management LLC's investment portfolio, making the stock its 16th largest position. Huber Capital Management LLC owned approximately 0.22% of Lyft worth $10,810,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its stake in Lyft by 42.1% during the first quarter. PNC Financial Services Group Inc. now owns 9,689 shares of the ride-sharing company's stock valued at $115,000 after purchasing an additional 2,871 shares during the last quarter. Maxi Investments CY Ltd boosted its holdings in shares of Lyft by 320.4% during the first quarter. Maxi Investments CY Ltd now owns 945,933 shares of the ride-sharing company's stock valued at $11,228,000 after acquiring an additional 720,933 shares during the period. Meridiem Capital Partners LP acquired a new position in shares of Lyft during the fourth quarter valued at $11,571,000. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of Lyft by 40.2% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 104,314 shares of the ride-sharing company's stock valued at $1,221,000 after acquiring an additional 29,912 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings 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 valued at $294,978,000 after acquiring an additional 5,178,118 shares during the period. Institutional investors own 83.07% of the company's stock.

Insider Buying and Selling

In related news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the 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 transaction, the insider owned 850,388 shares in the company, valued at approximately $13,478,649.80. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Erin Brewer sold 15,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was 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 in the company, valued at $8,241,167.16. This represents a 2.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,821 shares of company stock worth $701,966 in the last 90 days. 3.07% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LYFT shares. UBS Group boosted their price target on shares of Lyft from $14.00 to $15.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 price target on shares of Lyft in a report on Thursday, June 5th. Tigress Financial reissued a "buy" rating and set a $28.00 price target (up previously from $26.00) on shares of Lyft in a report on Wednesday, May 21st. Citigroup reissued a "hold" rating and set a $14.00 price target (down previously from $22.00) on shares of Lyft in a report on Friday, June 27th. Finally, Roth Capital raised shares of Lyft from a "neutral" rating to a "buy" rating and set a $19.00 price target for the company in a report on Thursday, August 7th. Nine analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Lyft presently has a consensus rating of "Hold" and a consensus price target of $16.83.

Lyft Trading Up 0.5%

NASDAQ LYFT traded up $0.08 on Monday, hitting $16.22. 17,103,169 shares of the company were exchanged, compared to its average volume of 21,864,066. 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 twelve month low of $9.66 and a twelve month high of $19.07. The firm has a market capitalization of $6.59 billion, a P/E ratio of 67.59, a price-to-earnings-growth ratio of 2.65 and a beta of 2.33. The company's 50 day moving average price is $15.17 and its 200-day moving average price is $13.94.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 EPS 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%. Lyft's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 earnings per share. Analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

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.