SG Americas Securities LLC Invests $6.65 Million in Lyft, Inc. (NASDAQ:LYFT)

SG Americas Securities LLC bought a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 560,330 shares of the ride-sharing company's stock, valued at approximately $6,651,000. SG Americas Securities LLC owned about 0.13% of Lyft as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in Lyft by 81.4% in 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 during the period. Pallas Capital Advisors LLC grew its holdings in shares of Lyft by 105.7% during the first quarter. Pallas Capital Advisors LLC now owns 64,127 shares of the ride-sharing company's stock worth $761,000 after buying an additional 32,946 shares during the last quarter. Washington Capital Management Inc. increased its position in Lyft by 23.4% in the 1st quarter. Washington Capital Management Inc. now owns 39,000 shares of the ride-sharing company's stock valued at $463,000 after acquiring an additional 7,400 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new stake in Lyft during the 1st quarter valued at approximately $175,000. Finally, UMB Bank n.a. purchased a new stake in Lyft during the 1st quarter valued at approximately $292,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Price Performance

Shares of LYFT stock traded down $0.66 during trading hours on Friday, hitting $14.78. The company's stock had a trading volume of 12,715,401 shares, compared to its average volume of 16,107,271. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $19.07. The stock has a market cap of $6.18 billion, a price-to-earnings ratio of 246.33, a P/E/G ratio of 1.90 and a beta of 2.22. The business has a fifty day moving average of $13.83 and a 200-day moving average of $13.63.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). Lyft had a net margin of 0.39% and a return on equity of 8.03%. The company had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same quarter last year, the company posted $0.15 EPS. Lyft's quarterly revenue was up 13.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.45, for a total transaction of $283,063.20. Following the transaction, the insider now owns 959,697 shares of the company's stock, valued at $11,948,227.65. This represents a 2.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jill Beggs sold 1,572 shares of the company's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total value of $25,796.52. Following the completion of the transaction, the director now owns 20,467 shares of the company's stock, valued at $335,863.47. The trade was a 7.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,732 shares of company stock worth $347,159. 3.07% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on LYFT. Susquehanna boosted their target price on Lyft from $15.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, May 12th. Wells Fargo & Company lowered their price objective on shares of Lyft from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. Needham & Company LLC restated a "hold" rating on shares of Lyft in a research report on Friday, May 9th. Bank of America cut shares of Lyft from a "buy" rating to an "underperform" rating and set a $10.50 target price for the company. in a research note on Thursday, April 3rd. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $15.00 target price on shares of Lyft in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, twenty-six have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $16.40.

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.