Weiss Asset Management LP Makes New $677,000 Investment in Lyft, Inc. (NASDAQ:LYFT)

Weiss Asset Management LP acquired a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 53,108 shares of the ride-sharing company's stock, valued at approximately $677,000.

Several other institutional investors also recently bought and sold shares of the business. Quarry LP lifted its position in Lyft by 268.7% during the third quarter. Quarry LP now owns 13,102 shares of the ride-sharing company's stock worth $167,000 after buying an additional 9,548 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in Lyft in the third quarter valued at $2,672,000. Point72 Asset Management L.P. purchased a new stake in Lyft in the third quarter valued at $13,430,000. Prentice Capital Management LP raised its position in Lyft by 24.3% in the third quarter. Prentice Capital Management LP now owns 494,187 shares of the ride-sharing company's stock valued at $6,301,000 after purchasing an additional 96,600 shares during the period. Finally, Maple Rock Capital Partners Inc. raised its position in Lyft by 84.8% in the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company's stock valued at $78,872,000 after purchasing an additional 2,838,000 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lyft news, insider Lindsay Catherine Llewellyn sold 4,243 shares of the business's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.00, for a total transaction of $50,916.00. Following the completion of the transaction, the insider now owns 760,089 shares of the company's stock, valued at $9,121,068. The trade was a 0.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $18.02, for a total transaction of $163,639.62. Following the transaction, the chief accounting officer now owns 332,243 shares in the company, valued at approximately $5,987,018.86. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,909 shares of company stock worth $505,686. Corporate insiders own 3.07% of the company's stock.

Lyft Stock Up 2.3 %

NASDAQ:LYFT traded up $0.36 during mid-day trading on Monday, reaching $16.30. The stock had a trading volume of 14,746,592 shares, compared to its average volume of 15,058,407. 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 stock's 50 day simple moving average is $15.11 and its two-hundred day simple moving average is $13.58. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $20.82. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of -101.88, a price-to-earnings-growth ratio of 4.62 and a beta of 2.09.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LYFT shares. BMO Capital Markets lifted their price objective on Lyft from $13.00 to $18.00 and gave the company a "market perform" rating in a research note on Thursday, November 7th. Bank of America lifted their price objective on Lyft from $16.00 to $19.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Canaccord Genuity Group boosted their target price on Lyft from $18.00 to $22.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Nomura raised Lyft from a "reduce" rating to a "neutral" rating and lowered their target price for the stock from $15.00 to $13.00 in a research note on Friday, August 23rd. Finally, Cantor Fitzgerald boosted their target price on Lyft from $13.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Twenty-eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $17.77.

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.