Lyft, Inc. (NASDAQ:LYFT) Stock Position Lifted by Maple Rock Capital Partners Inc.

Maple Rock Capital Partners Inc. raised its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 84.8% in the third quarter, Holdings Channel reports. The institutional investor owned 6,186,000 shares of the ride-sharing company’s stock after buying an additional 2,838,000 shares during the quarter. Lyft accounts for about 2.2% of Maple Rock Capital Partners Inc.’s holdings, making the stock its 8th biggest position. Maple Rock Capital Partners Inc.’s holdings in Lyft were worth $78,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in LYFT. Crossmark Global Holdings Inc. boosted its stake in shares of Lyft by 4.4% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 23,460 shares of the ride-sharing company’s stock worth $330,000 after acquiring an additional 993 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in shares of Lyft by 9.1% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 13,894 shares of the ride-sharing company’s stock worth $196,000 after acquiring an additional 1,160 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Lyft by 1.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company’s stock worth $1,054,000 after purchasing an additional 1,315 shares during the period. QRG Capital Management Inc. grew its stake in Lyft by 6.1% during the second quarter. QRG Capital Management Inc. now owns 24,854 shares of the ride-sharing company’s stock valued at $350,000 after acquiring an additional 1,437 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Lyft by 26.4% in the second quarter. CWM LLC now owns 6,968 shares of the ride-sharing company’s stock worth $98,000 after purchasing an additional 1,457 shares during the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Logan Green sold 10,919 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total value of $188,352.75. Following the completion of the transaction, the director now owns 314,492 shares of the company’s stock, valued at approximately $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft 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 owns 332,243 shares in the company, valued at $5,987,018.86. This represents a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,909 shares of company stock worth $505,686 over the last quarter. 3.07% of the stock is owned by corporate insiders.

Lyft Stock Down 1.5 %

Shares of LYFT opened at $16.92 on Wednesday. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The company’s fifty day moving average is $14.86 and its two-hundred day moving average is $13.57. The firm has a market cap of $7.02 billion, a PE ratio of -105.75, a price-to-earnings-growth ratio of 4.98 and a beta of 2.09. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.88.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.44 billion. During the same quarter in the prior year, the business earned ($0.02) earnings per share. The business’s quarterly revenue was up 31.6% compared to the same quarter last year. Analysts forecast that Lyft, Inc. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

LYFT has been the subject of several analyst reports. Wedbush reissued a “neutral” rating and issued a $20.00 price objective (up previously from $12.00) on shares of Lyft in a research note on Thursday, November 7th. Wells Fargo & Company reiterated a “market perform” rating on shares of Lyft in a research note on Friday, October 18th. Deutsche Bank Aktiengesellschaft dropped their price target on Lyft from $15.00 to $11.00 and set a “hold” rating for the company in a research report on Thursday, August 8th. UBS Group boosted their price target on shares of Lyft from $13.00 to $18.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Loop Capital lowered their target price on shares of Lyft from $20.00 to $16.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Twenty-eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $17.55.

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.