Krilogy Financial LLC Increases Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Krilogy Financial LLC raised its position in shares of Lyft, Inc. (NASDAQ:LYFTGet Rating) by 419.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 33,679 shares of the ride-sharing company’s stock after buying an additional 27,191 shares during the quarter. Krilogy Financial LLC’s holdings in Lyft were worth $447,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MCF Advisors LLC purchased a new position in Lyft during the first quarter valued at $25,000. Rockbridge Investment Management LCC increased its holdings in shares of Lyft by 95.6% during the fourth quarter. Rockbridge Investment Management LCC now owns 671 shares of the ride-sharing company’s stock valued at $29,000 after acquiring an additional 328 shares in the last quarter. Elequin Capital LP bought a new position in shares of Lyft during the first quarter valued at $26,000. Activest Wealth Management bought a new stake in Lyft in the 1st quarter worth about $44,000. Finally, Prospera Financial Services Inc bought a new stake in Lyft in the 1st quarter worth about $59,000. Hedge funds and other institutional investors own 76.49% of the company’s stock.

Lyft Stock Down 7.8 %

Shares of LYFT opened at $14.69 on Friday. Lyft, Inc. has a 1 year low of $11.96 and a 1 year high of $57.68. The business’s 50 day simple moving average is $15.98 and its 200-day simple moving average is $21.96. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.84.

Lyft (NASDAQ:LYFTGet Rating) last released its earnings results on Thursday, August 4th. The ride-sharing company reported $0.13 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.18. The firm had revenue of $990.70 million for the quarter, compared to the consensus estimate of $988.14 million. Lyft had a negative return on equity of 46.36% and a negative net margin of 24.44%. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.68) EPS. Equities research analysts anticipate that Lyft, Inc. will post -1.42 EPS for the current year.

Analysts Set New Price Targets

LYFT has been the subject of several research analyst reports. KeyCorp initiated coverage on Lyft in a report on Tuesday, July 12th. They issued a “sector weight” rating for the company. Stifel Nicolaus boosted their price target on Lyft from $18.00 to $19.00 in a research note on Friday, August 5th. Atlantic Securities cut their price target on Lyft to $24.00 in a research note on Tuesday, August 9th. Wedbush cut their price target on Lyft from $32.00 to $25.00 and set an “outperform” rating for the company in a research note on Friday, August 5th. Finally, Credit Suisse Group cut their price target on Lyft from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Lyft currently has a consensus rating of “Moderate Buy” and an average price target of $36.06.

Insiders Place Their Bets

In other Lyft news, insider Kristin Sverchek sold 13,000 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $18.98, for a total value of $246,740.00. Following the completion of the sale, the insider now directly owns 70,350 shares in the company, valued at approximately $1,335,243. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.31% of the company’s stock.

Lyft Profile

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Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.

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Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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