Black Maple Capital Management LP Acquires New Position in Lyft, Inc. $LYFT

Black Maple Capital Management LP bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT) in the 2nd quarter, HoldingsChannel.com reports. The fund bought 36,000 shares of the ride-sharing company’s stock, valued at approximately $567,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brevan Howard Capital Management LP lifted its position in shares of Lyft by 401.4% during the second quarter. Brevan Howard Capital Management LP now owns 724,044 shares of the ride-sharing company’s stock worth $11,411,000 after purchasing an additional 579,648 shares in the last quarter. AQR Capital Management LLC lifted its holdings 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. California State Teachers Retirement System lifted its stake in Lyft by 0.5% during the second quarter. California State Teachers Retirement System now owns 377,065 shares of the ride-sharing company’s stock worth $5,943,000 after purchasing an additional 1,891 shares during the last quarter. Shaolin Capital Management LLC acquired a new position in shares of Lyft in the 2nd quarter valued at $2,797,000. Finally, Maverick Capital Ltd. acquired a new position in Lyft in the second quarter valued at $1,899,000. 83.07% of the stock is owned by hedge funds and other institutional investors.

Lyft Price Performance

NASDAQ:LYFT opened at $20.37 on Friday. Lyft, Inc. has a 52-week low of $9.66 and a 52-week high of $25.54. The company has a market cap of $8.13 billion, a P/E ratio of 53.61, a P/E/G ratio of 2.04 and a beta of 1.99. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.72 and a current ratio of 0.72. The stock’s 50-day simple moving average is $21.01 and its 200 day simple moving average is $18.09.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.17). The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.71 billion. Lyft had a net margin of 2.40% and a return on equity of 18.29%. Lyft’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 earnings per share. As a group, sell-side analysts forecast that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Analysts Set New Price Targets

LYFT has been the subject of several research analyst reports. Cowen reissued a “buy” rating on shares of Lyft in a report on Thursday, November 6th. Cantor Fitzgerald lifted their price target on Lyft from $19.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Wedbush upped their target price on shares of Lyft from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Sanford C. Bernstein upped their target price on Lyft from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Monday, November 10th. Finally, Zephirin Group raised their price objective on shares of Lyft from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating, twenty-four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $22.92.

Insider Buying and Selling

In related news, CEO John David Risher bought 5,030 shares of Lyft stock in a transaction that occurred on Wednesday, December 10th. The stock was acquired at an average price of $19.80 per share, with a total value of $99,594.00. Following the acquisition, the chief executive officer owned 11,802,296 shares of the company’s stock, valued at approximately $233,685,460.80. This represents a 0.04% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Lawee sold 6,578 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $22.55, for a total value of $148,333.90. Following the sale, the director owned 104,460 shares of the company’s stock, valued at approximately $2,355,573. This represents a 5.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 202,049 shares of company stock valued at $4,470,738. Insiders own 3.07% of the company’s stock.

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.