Lyft, Inc. (NASDAQ:LYFT) is Maple Rock Capital Partners Inc.'s 8th Largest Position

Maple Rock Capital Partners Inc. grew its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 84.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,186,000 shares of the ride-sharing company's stock after purchasing an additional 2,838,000 shares during the period. Lyft makes up 2.2% of Maple Rock Capital Partners Inc.'s portfolio, making the stock its 8th biggest holding. Maple Rock Capital Partners Inc. owned about 1.51% of Lyft worth $78,872,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Jacobs Levy Equity Management Inc. grew its position in shares of Lyft by 27.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company's stock valued at $103,456,000 after purchasing an additional 1,735,208 shares in the last quarter. HITE Hedge Asset Management LLC purchased a new position in Lyft in the third quarter worth $357,000. Cinctive Capital Management LP grew its position in Lyft by 8.7% in the third quarter. Cinctive Capital Management LP now owns 245,658 shares of the ride-sharing company's stock worth $3,132,000 after acquiring an additional 19,611 shares in the last quarter. Concentric Capital Strategies LP lifted its stake in Lyft by 171.9% in the third quarter. Concentric Capital Strategies LP now owns 176,919 shares of the ride-sharing company's stock worth $2,256,000 after purchasing an additional 111,861 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Lyft during the third quarter valued at about $234,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LYFT has been the topic of a number of recent research reports. Benchmark restated a "hold" rating on shares of Lyft in a report on Thursday, November 7th. Piper Sandler restated an "overweight" rating and issued a $23.00 price objective (up previously from $17.00) on shares of Lyft in a report on Thursday, November 7th. Wells Fargo & Company restated a "market perform" rating on shares of Lyft in a report on Friday, October 18th. Susquehanna upped their price objective on shares of Lyft from $10.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, November 11th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Lyft in a report on Thursday, November 7th. Twenty-eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $17.55.

Lyft Stock Performance

NASDAQ:LYFT traded up $0.32 during trading hours on Wednesday, hitting $17.24. 10,424,605 shares of the company were exchanged, compared to its average volume of 15,010,882. The stock has a market capitalization of $7.15 billion, a price-to-earnings ratio of -105.75, a PEG ratio of 4.98 and a beta of 2.09. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The company's 50 day moving average price is $14.86 and its 200-day moving average price is $13.57.

Lyft (NASDAQ:LYFT - Get Free Report) last released its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.09. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. Lyft's revenue was up 31.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.02) EPS. As a group, research analysts forecast that Lyft, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In related news, Director Logan Green sold 10,919 shares of the business's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the completion of the transaction, the director now directly owns 314,492 shares in the company, valued at $5,424,987. The trade was a 3.36 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of the company's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $12.00, for a total transaction of $50,916.00. Following the transaction, the insider now owns 760,089 shares of the company's stock, valued at $9,121,068. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,909 shares of company stock valued at $505,686 in the last ninety days. Insiders own 3.07% of the company's stock.

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.