Maven Securities LTD Boosts Stock Holdings in Lyft, Inc. $LYFT

Key Points

• Maven Securities LTD has increased its stake in Lyft, Inc. by 328.9%, owning 53,614 shares valued at $636,000 at the end of the first quarter.
• Lyft's latest earnings report showed a missed consensus estimate with earnings per share of $0.10, below the expected $0.27, and revenue of $1.59 billion compared to the $1.61 billion forecast.
• Analysts have set a consensus price target for Lyft at $16.70, with a mix of nine buy ratings, twenty-two hold ratings, and one sell rating among analysts.

Maven Securities LTD grew its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 328.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,614 shares of the ride-sharing company's stock after acquiring an additional 41,114 shares during the period. Maven Securities LTD's holdings in Lyft were worth $636,000 as of its most recent SEC filing.

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

Insider Activity

In other news, CEO John David Risher purchased 6,538 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were purchased at an average price of $15.29 per share, for a total transaction of $99,966.02. Following the completion of the acquisition, the chief executive officer directly owned 11,791,340 shares in the company, valued at $180,289,588.60. This represents a 0.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total transaction of $449,442.60. Following the sale, the insider owned 850,388 shares in the company, 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 have sold 44,928 shares of company stock worth $703,839. Corporate insiders own 3.07% of the company's stock.

Lyft Stock Up 7.6%

Shares of NASDAQ LYFT traded up $1.20 on Friday, reaching $17.01. 24,096,065 shares of the company's stock traded hands, compared to its average volume of 21,216,038. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $19.07. The business's 50 day simple moving average is $15.00 and its two-hundred day simple moving average is $13.85. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 70.88, a price-to-earnings-growth ratio of 2.58 and a beta of 2.26. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.72.

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 business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the business posted $0.24 EPS. Lyft's revenue for the quarter was up 10.6% on a year-over-year basis. As a group, equities research analysts forecast that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Wall Street Zen raised shares of Lyft from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. The Goldman Sachs Group raised shares of Lyft from a "neutral" rating to a "buy" rating and set a $20.00 price objective for the company in a research note on Friday, May 9th. Canaccord Genuity Group lowered their price objective on shares of Lyft from $14.00 to $11.00 and set a "hold" rating for the company in a research note on Thursday, August 7th. UBS Group increased their price target on shares of Lyft from $14.00 to $15.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Finally, Tigress Financial reissued a "buy" rating and issued a $28.00 price target (up from $26.00) on shares of Lyft in a research note on Wednesday, May 21st. Nine analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Lyft presently has a consensus rating of "Hold" and an average price target of $16.70.

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.