AlphaQuest LLC Decreases Stock Holdings in Lyft, Inc. $LYFT

Key Points

• AlphaQuest LLC significantly reduced its holdings in Lyft, Inc. by 84.7%, selling 26,182 shares and leaving it with 4,746 shares valued at $56,000.
• Institutional investors account for 83.07% of Lyft's total shares, with Vanguard Group and Ameriprise Financial increasing their stakes in the company.
• Lyft missed earnings expectations in its latest report, posting an EPS of $0.10 versus the estimated $0.27, while revenues rose 10.6% year-over-year to $1.59 billion.

AlphaQuest LLC lessened its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 84.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,746 shares of the ride-sharing company's stock after selling 26,182 shares during the quarter. AlphaQuest LLC's holdings in Lyft were worth $56,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of LYFT. Neuberger Berman Group LLC increased its position in shares of Lyft by 3.7% in the first quarter. Neuberger Berman Group LLC now owns 24,441 shares of the ride-sharing company's stock worth $290,000 after purchasing an additional 868 shares during the last quarter. Amalgamated Bank raised its position in shares of Lyft by 4.0% during the 1st quarter. Amalgamated Bank now owns 23,344 shares of the ride-sharing company's stock valued at $277,000 after buying an additional 892 shares in the last quarter. Creative Financial Designs Inc. ADV increased its stake in Lyft by 11.3% in the first quarter. Creative Financial Designs Inc. ADV now owns 9,025 shares of the ride-sharing company's stock valued at $107,000 after acquiring an additional 914 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Lyft by 1.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 83,822 shares of the ride-sharing company's stock valued at $1,081,000 after acquiring an additional 1,132 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Lyft by 81.4% during the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after purchasing an additional 1,237 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Trading Down 0.8%

Lyft stock traded down $0.13 during mid-day trading on Friday, reaching $16.66. 15,556,121 shares of the company traded hands, compared to its average volume of 19,581,628. 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. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 69.42, a P/E/G ratio of 2.74 and a beta of 2.33. The firm's 50 day moving average price is $15.28 and its 200 day moving average price is $14.04.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results 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). Lyft had a net margin of 1.51% and a return on equity of 14.32%. The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm posted $0.24 EPS. The company's revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LYFT shares. Wells Fargo & Company upped their price objective on Lyft from $15.00 to $16.00 and gave the stock an "equal weight" rating in a report on Friday. UBS Group upped their target price on Lyft from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Tigress Financial reiterated a "buy" rating and set a $28.00 price target (up from $26.00) on shares of Lyft in a research report on Wednesday, May 21st. The Goldman Sachs Group upgraded shares of Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price objective for the company in a report on Friday, May 9th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Lyft in a research report on Friday, May 9th. Nine research 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 company currently has a consensus rating of "Hold" and a consensus price target of $16.87.

Insider Transactions at Lyft

In other Lyft news, CEO John David Risher bought 5,926 shares of Lyft stock in a transaction dated Wednesday, September 3rd. The shares were purchased at an average cost of $16.88 per share, with a total value of $100,030.88. Following the transaction, the chief executive officer directly owned 11,797,266 shares of the company's stock, valued at $199,137,850.08. This represents a 0.05% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $15.85, for a total transaction of $449,442.60. Following the completion of the sale, the insider owned 850,388 shares in the company, valued at approximately $13,478,649.80. This trade represents a 3.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,821 shares of company stock valued at $960,566. Corporate insiders own 3.07% of the company's stock.

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.