Citizens Financial Group Inc. RI Buys Shares of 10,257 Lyft, Inc. (NASDAQ:LYFT)

Citizens Financial Group Inc. RI purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,257 shares of the ride-sharing company’s stock, valued at approximately $131,000.

Several other hedge funds and other institutional investors have also made changes to their positions in LYFT. Brown Brothers Harriman & Co. purchased a new stake in Lyft during the 2nd quarter worth approximately $35,000. International Assets Investment Management LLC purchased a new stake in shares of Lyft during the second quarter worth $35,000. Capital Performance Advisors LLP acquired a new stake in shares of Lyft in the third quarter valued at $38,000. Quarry LP boosted its holdings in Lyft by 4,032.6% in the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after purchasing an additional 3,468 shares during the period. Finally, Benjamin Edwards Inc. acquired a new position in Lyft during the 2nd quarter worth $72,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insider Buying and Selling

In other news, insider Lindsay Catherine Llewellyn sold 8,486 shares of Lyft stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.76, for a total transaction of $99,795.36. Following the completion of the sale, the insider now directly owns 764,332 shares in the company, valued at approximately $8,988,544.32. This trade represents a 1.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $18.02, for a total value of $163,639.62. Following the sale, the chief accounting officer now directly owns 332,243 shares in the company, valued at $5,987,018.86. This trade represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,799 shares of company stock valued at $537,082 over the last quarter. Company insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wells Fargo & Company reiterated a “market perform” rating on shares of Lyft in a research note on Friday, October 18th. BMO Capital Markets boosted their price target on shares of Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Nomura Securities upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Cantor Fitzgerald boosted their target price on shares of Lyft from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Lyft in a research note on Thursday, November 7th. Twenty-eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Lyft currently has an average rating of “Hold” and an average target price of $17.55.

Lyft Stock Up 3.1 %

LYFT stock opened at $16.79 on Monday. The stock has a market capitalization of $6.96 billion, a PE ratio of -104.94, a price-to-earnings-growth ratio of 4.73 and a beta of 2.04. The company has a fifty day moving average of $14.17 and a 200-day moving average of $13.55. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $1.44 billion. During the same quarter last year, the firm earned ($0.02) earnings per share. The firm’s revenue was up 31.6% compared to the same quarter last year. As a group, analysts expect that Lyft, Inc. will post 0.08 EPS for the current year.

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.