Y Intercept Hong Kong Ltd Acquires Shares of 144,122 Lyft, Inc. (NASDAQ:LYFT)

Y Intercept Hong Kong Ltd acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 144,122 shares of the ride-sharing company's stock, valued at approximately $1,838,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. grew its position in Lyft by 4.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company's stock worth $330,000 after purchasing an additional 993 shares in the last quarter. XTX Topco Ltd grew its position in Lyft by 2.5% during the 3rd quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company's stock worth $538,000 after purchasing an additional 1,043 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in Lyft by 9.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company's stock worth $196,000 after purchasing an additional 1,160 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Lyft by 1.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company's stock worth $1,054,000 after purchasing an additional 1,315 shares in the last quarter. Finally, QRG Capital Management Inc. grew its position in Lyft by 6.1% during the 2nd quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company's stock worth $350,000 after purchasing an additional 1,437 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Stock Performance

Shares of NASDAQ LYFT traded down $0.77 during mid-day trading on Wednesday, hitting $15.42. The company had a trading volume of 25,836,670 shares, compared to its average volume of 15,079,792. 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 business's 50-day simple moving average is $15.19 and its 200-day simple moving average is $13.58. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The firm has a market cap of $6.40 billion, a P/E ratio of -96.06, a PEG ratio of 4.62 and a beta of 2.09.

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

Wall Street Analyst Weigh In

LYFT has been the topic of several research analyst reports. Wedbush reiterated a "neutral" rating and set a $20.00 price objective (up from $12.00) on shares of Lyft in a research report on Thursday, November 7th. BMO Capital Markets boosted their price target on shares of Lyft from $13.00 to $18.00 and gave the company a "market perform" rating in a report on Thursday, November 7th. Canaccord Genuity Group boosted their price target on shares of Lyft from $18.00 to $22.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Susquehanna boosted their price target on shares of Lyft from $10.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, November 11th. Finally, Benchmark restated 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $17.77.

Insider Buying and Selling

In other news, Director Logan Green sold 10,919 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the sale, the director now owns 314,492 shares of the company's stock, valued at approximately $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly owns 760,089 shares of the company's stock, valued at approximately $9,121,068. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,909 shares of company stock valued at $505,686 over the last quarter. Corporate insiders own 3.07% of the company's stock.

Lyft 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.