Kercheville Advisors LLC Acquires New Holdings in Lyft, Inc. $LYFT

Kercheville Advisors LLC bought a new stake in Lyft, Inc. (NASDAQ:LYFT) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 38,000 shares of the ride-sharing company’s stock, valued at approximately $836,000.

Several other large investors have also recently bought and sold shares of the stock. AQR Capital Management LLC lifted its stake in shares of Lyft by 144.9% in the 2nd quarter. AQR Capital Management LLC now owns 24,009,925 shares of the ride-sharing company’s stock worth $378,396,000 after acquiring an additional 14,205,143 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Lyft by 415.2% during the second quarter. Los Angeles Capital Management LLC now owns 3,714,935 shares of the ride-sharing company’s stock valued at $58,547,000 after acquiring an additional 2,993,807 shares during the period. Norges Bank bought a new stake in Lyft during the second quarter worth approximately $44,209,000. Marshall Wace LLP lifted its position in Lyft by 75.7% in the second quarter. Marshall Wace LLP now owns 5,464,934 shares of the ride-sharing company’s stock worth $86,127,000 after purchasing an additional 2,353,769 shares during the period. Finally, Rheos Capital Works Inc. acquired a new stake in Lyft in the second quarter worth approximately $37,036,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Price Performance

LYFT stock opened at $19.79 on Monday. Lyft, Inc. has a one year low of $9.66 and a one year high of $25.54. The firm has a 50-day moving average of $20.76 and a two-hundred day moving average of $18.56. The firm has a market capitalization of $7.90 billion, a PE ratio of 52.08, a P/E/G ratio of 1.26 and a beta of 1.94. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.76.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.17). Lyft had a net margin of 2.40% and a return on equity of 18.29%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm earned $0.29 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. On average, analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current year.

Insider Activity

In other Lyft news, Director Prashant Aggarwal sold 96,900 shares of the stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $22.30, for a total value of $2,160,870.00. Following the completion of the sale, the director owned 874,369 shares in the company, valued at $19,498,428.70. This represents a 9.98% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Stephen W. Hope sold 4,800 shares of Lyft stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $22.30, for a total value of $107,040.00. Following the sale, the chief accounting officer directly owned 311,909 shares of the company’s stock, valued at approximately $6,955,570.70. The trade was a 1.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 187,443 shares of company stock valued at $4,178,618 in the last ninety days. Corporate insiders own 3.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LYFT. Barclays boosted their price objective on Lyft from $20.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, November 7th. Wall Street Zen cut shares of Lyft from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Benchmark reissued a “buy” rating on shares of Lyft in a report on Tuesday, October 28th. Evercore ISI raised their price objective on shares of Lyft from $15.00 to $30.00 and gave the company an “in-line” rating in a research report on Thursday, November 6th. Finally, DA Davidson set a $22.00 target price on shares of Lyft in a report on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Lyft currently has an average rating of “Hold” and a consensus target price of $22.80.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.