Quantitative Investment Management LLC Has $747,000 Stock Position in Lyft, Inc. $LYFT

Quantitative Investment Management LLC reduced its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 75.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,160 shares of the ride-sharing company’s stock after selling 157,108 shares during the period. Quantitative Investment Management LLC’s holdings in Lyft were worth $747,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Strs Ohio raised its stake in shares of Lyft by 4,527.6% in the fourth quarter. Strs Ohio now owns 440,405 shares of the ride-sharing company’s stock valued at $8,531,000 after buying an additional 430,888 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Lyft by 58.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,720,478 shares of the ride-sharing company’s stock worth $89,360,000 after buying an additional 2,467,010 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Lyft by 36.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,289,671 shares of the ride-sharing company’s stock worth $30,453,000 after buying an additional 613,494 shares during the last quarter. West Tower Group LLC boosted its position in Lyft by 207.6% during the first quarter. West Tower Group LLC now owns 138,432 shares of the ride-sharing company’s stock valued at $1,841,000 after buying an additional 93,432 shares during the period. Finally, OP Asset Management Ltd purchased a new position in shares of Lyft in the first quarter worth $992,000. 83.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

LYFT has been the subject of a number of analyst reports. Sanford C. Bernstein initiated coverage on shares of Lyft in a research note on Wednesday, June 17th. They set an “underperform” rating for the company. Zacks Research upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 5th. William Blair cut Lyft to a “market perform” rating in a report on Wednesday, June 17th. Rothschild & Co Redburn raised shares of Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Wednesday, June 17th. Finally, Bank of America raised shares of Lyft from an “underperform” rating to a “buy” rating in a research note on Friday, August 7th. Thirteen research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Lyft currently has an average rating of “Hold” and an average target price of $19.77.

Lyft Stock Down 0.8%

Lyft stock opened at $16.77 on Wednesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59. Lyft, Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The business’s 50-day simple moving average is $16.05 and its two-hundred day simple moving average is $14.55. The company has a market cap of $6.35 billion, a PE ratio of 2.44, a PEG ratio of 1.04 and a beta of 1.80.

Lyft (NASDAQ:LYFT) last posted its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The firm had revenue of $1.84 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The business’s revenue for the quarter was up 16.1% on a year-over-year basis. Equities analysts anticipate that Lyft, Inc. will post 0.73 EPS for the current year.

Trending Headlines about Lyft

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: New advertising partnership: Lyft Ads and United Airlines are creating a dynamic advertising partnership, potentially expanding Lyft’s higher-margin advertising revenue and strengthening its position with travel-oriented consumers. Lyft Ads and United Airlines partnership
• Positive Sentiment: New analyst coverage: Rosenblatt Securities initiated coverage with a “neutral” rating and a $19 price target, which is above the stock’s recent trading level. While not a bullish endorsement, the target suggests potential upside and adds another Wall Street view to the stock’s coverage.

Insider Activity

In related news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction on Friday, June 12th. The stock was sold at an average price of $13.59, for a total value of $203,850.00. Following the completion of the transaction, the chief financial officer directly owned 705,979 shares in the company, valued at approximately $9,594,254.61. This trade represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Lawee sold 4,613 shares of Lyft stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $17.33, for a total transaction of $79,943.29. Following the sale, the director directly owned 119,124 shares of the company’s stock, valued at approximately $2,064,418.92. This trade represents a 3.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 98,816 shares of company stock worth $1,615,095 in the last three months. 0.92% of the stock is currently owned by corporate insiders.

About Lyft

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.