Versor Investments LP Makes New $955,000 Investment in Lyft, Inc. $LYFT

Versor Investments LP acquired a new position in Lyft, Inc. (NASDAQ:LYFT) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 60,600 shares of the ride-sharing company’s stock, valued at approximately $955,000.

A number of other hedge funds have also made changes to their positions in LYFT. MassMutual Private Wealth & Trust FSB increased its position in shares of Lyft by 162.6% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after buying an additional 1,203 shares in the last quarter. Atwood & Palmer Inc. purchased a new position in shares of Lyft in the second quarter valued at $32,000. GAMMA Investing LLC increased its position in shares of Lyft by 81.4% in the first quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company’s stock valued at $33,000 after buying an additional 1,237 shares in the last quarter. Bogart Wealth LLC increased its position in shares of Lyft by 1,242.2% in the second quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock valued at $34,000 after buying an additional 2,000 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Lyft in the first quarter valued at $35,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LYFT shares. Wall Street Zen cut Lyft from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. TD Cowen raised their price target on Lyft from $22.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. BMO Capital Markets raised their price target on Lyft from $16.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, September 18th. Morgan Stanley increased their price objective on Lyft from $19.00 to $20.50 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Finally, Wedbush set a $17.00 price objective on Lyft and gave the stock a “neutral” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twenty-two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.68.

Lyft Stock Up 3.6%

LYFT opened at $20.46 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.70 and a quick ratio of 0.70. The stock has a market capitalization of $8.32 billion, a price-to-earnings ratio of 85.25, a price-to-earnings-growth ratio of 3.58 and a beta of 2.36. The business has a 50-day moving average of $19.86 and a two-hundred day moving average of $16.56. Lyft, Inc. has a 12 month low of $9.66 and a 12 month high of $23.50.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, August 6th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.17). The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.61 billion. Lyft had a net margin of 1.51% and a return on equity of 14.32%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 28,356 shares of Lyft stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $15.85, for a total value of $449,442.60. Following the transaction, the insider directly owned 850,388 shares of the company’s stock, valued at $13,478,649.80. The trade was a 3.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Erin Brewer sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $15.24, for a total value of $228,600.00. Following the sale, the chief financial officer owned 540,759 shares in the company, valued at approximately $8,241,167.16. The trade was a 2.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 74,427 shares of company stock valued at $1,252,686 in the last three months. Corporate 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.