Great Lakes Advisors LLC Invests $8.14 Million in Lyft, Inc. $LYFT

Great Lakes Advisors LLC acquired a new stake in Lyft, Inc. (NASDAQ:LYFT) during the third quarter, HoldingsChannel reports. The fund acquired 369,916 shares of the ride-sharing company’s stock, valued at approximately $8,142,000.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC raised its position in Lyft by 144.9% during 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 buying an additional 14,205,143 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Lyft by 0.3% during the second quarter. Geode Capital Management LLC now owns 6,633,591 shares of the ride-sharing company’s stock worth $104,561,000 after acquiring an additional 20,354 shares during the period. Marshall Wace LLP raised its holdings in Lyft by 75.7% during 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 in the last quarter. Los Angeles Capital Management LLC lifted its position in Lyft by 415.2% in 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 purchasing an additional 2,993,807 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Lyft by 12.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,521,652 shares of the ride-sharing company’s stock valued at $55,501,000 after purchasing an additional 376,661 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LYFT has been the subject of a number of analyst reports. Benchmark reissued a “buy” rating on shares of Lyft in a research note on Tuesday, October 28th. DA Davidson set a $22.00 price objective on Lyft in a report on Thursday, November 6th. Roth Mkm set a $25.00 target price on Lyft and gave the company a “buy” rating in a report on Wednesday, October 29th. Morgan Stanley boosted their target price on shares of Lyft from $20.50 to $22.50 and gave the stock an “equal weight” rating in a research report on Monday, December 8th. Finally, Barclays increased their price target on shares of Lyft from $20.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, November 7th. Ten analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Lyft presently has an average rating of “Hold” and a consensus target price of $22.76.

Insiders Place Their Bets

In other news, CAO Stephen W. Hope sold 4,800 shares of the firm’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $22.30, for a total transaction of $107,040.00. Following the completion of the transaction, the chief accounting officer directly owned 311,909 shares of the company’s stock, valued at $6,955,570.70. This trade represents a 1.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jill Beggs sold 1,466 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $20.25, for a total value of $29,686.50. Following the completion of the sale, the director directly owned 34,278 shares in the company, valued at approximately $694,129.50. The trade was a 4.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 187,443 shares of company stock valued at $4,178,618. Corporate insiders own 3.07% of the company’s stock.

Lyft Trading Up 3.2%

Shares of LYFT stock opened at $17.75 on Friday. The stock has a market cap of $7.09 billion, a P/E ratio of 46.71, a P/E/G ratio of 1.07 and a beta of 1.94. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.76. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $25.54. The business has a fifty day simple moving average of $19.67 and a 200-day simple moving average of $18.92.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings data on Wednesday, November 5th. The ride-sharing company reported $0.13 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 business had revenue of $1.69 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the company posted $0.29 earnings per share. Lyft’s revenue was up 11.6% on a year-over-year basis. On average, analysts forecast that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft 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.