Wealth Enhancement Advisory Services LLC Purchases New Holdings in Lyft, Inc. (NASDAQ:LYFT)

Wealth Enhancement Advisory Services LLC bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the third quarter, Holdings Channel reports. The firm bought 33,267 shares of the ride-sharing company’s stock, valued at approximately $424,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Crossmark Global Holdings Inc. increased its position in Lyft by 4.4% in the second quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock worth $330,000 after buying an additional 993 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Lyft by 9.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock worth $196,000 after acquiring an additional 1,160 shares during the last quarter. QRG Capital Management Inc. raised its stake in Lyft by 6.1% in the 2nd quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock valued at $350,000 after acquiring an additional 1,437 shares during the period. CWM LLC lifted its holdings in Lyft by 26.4% during the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock valued at $98,000 after purchasing an additional 1,457 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Lyft by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 185,280 shares of the ride-sharing company’s stock worth $2,612,000 after purchasing an additional 1,477 shares during the period. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Trading Up 0.5 %

Shares of LYFT stock opened at $17.78 on Friday. The business has a 50-day moving average of $12.96 and a 200 day moving average of $13.54. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $20.82. The stock has a market capitalization of $7.29 billion, a PE ratio of -111.13 and a beta of 2.04.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 1.67% and a negative net margin of 1.19%. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The business’s revenue was up 40.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Lyft, Inc. will post -0.06 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Thursday. Jefferies Financial Group boosted their target price on shares of Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Nomura Securities upgraded Lyft from a “strong sell” rating to a “hold” rating in a research report on Friday, August 23rd. Evercore ISI lifted their price target on Lyft from $17.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday. Finally, Morgan Stanley boosted their price objective on Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday. Twenty-eight equities research 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.23.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 10,323 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the sale, the director now owns 330,790 shares of the company’s stock, valued at $3,843,779.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Logan Green sold 10,323 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total transaction of $119,953.26. Following the completion of the transaction, the director now directly owns 330,790 shares of the company’s stock, valued at approximately $3,843,779.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $12.00, for a total value of $50,916.00. Following the completion of the sale, the insider now directly owns 760,089 shares in the company, valued at $9,121,068. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,664 shares of company stock worth $380,048 in the last three months. 3.07% of the stock is owned by insiders.

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.