Sunbelt Securities Inc. Purchases Shares of 5,500 Lyft, Inc. (NASDAQ:LYFT)

Sunbelt Securities Inc. acquired a new position in Lyft, Inc. (NASDAQ:LYFT) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,500 shares of the ride-sharing company’s stock, valued at approximately $70,000.

Other hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its stake in Lyft by 87.0% during the third quarter. Public Employees Retirement System of Ohio now owns 260,374 shares of the ride-sharing company’s stock worth $3,320,000 after purchasing an additional 121,142 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Lyft in the 3rd quarter valued at $1,838,000. Main Management ETF Advisors LLC acquired a new position in Lyft during the 3rd quarter worth about $881,000. XTX Topco Ltd boosted its holdings in Lyft by 2.5% during the 3rd quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company’s stock valued at $538,000 after acquiring an additional 1,043 shares during the period. Finally, Weiss Asset Management LP acquired a new position in Lyft in the 3rd quarter valued at about $677,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In other news, insider Lindsay Catherine Llewellyn sold 4,242 shares of Lyft stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $17.76, for a total value of $75,337.92. Following the completion of the transaction, the insider now directly owns 755,847 shares of the company’s stock, valued at approximately $13,423,842.72. The trade was a 0.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the completion of the transaction, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. The trade was a 2.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,242 shares of company stock worth $427,330 in the last quarter. 3.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Wedbush reissued a “neutral” rating and set a $20.00 price target (up previously from $12.00) on shares of Lyft in a research report on Thursday, November 7th. Jefferies Financial Group increased their target price on shares of Lyft from $10.50 to $13.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Benchmark reissued a “hold” rating on shares of Lyft in a research report on Thursday, November 7th. Evercore ISI upped their price objective on Lyft from $17.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a report on Thursday, November 7th. Twenty-eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lyft presently has an average rating of “Hold” and an average target price of $17.77.

Lyft Stock Performance

Lyft stock opened at $14.14 on Monday. The company has a market cap of $5.87 billion, a price-to-earnings ratio of -88.38, a price-to-earnings-growth ratio of 4.47 and a beta of 2.09. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The stock’s 50-day moving average is $15.32 and its 200-day moving average is $13.56.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. The firm had revenue of $1.52 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The firm’s revenue was up 31.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.02) EPS. Equities analysts anticipate that Lyft, Inc. will post 0.08 earnings per share for the current year.

About Lyft

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.