Maple Rock Capital Partners Inc. Sells 2,062,352 Shares of Lyft, Inc. $LYFT

Maple Rock Capital Partners Inc. reduced its position in Lyft, Inc. (NASDAQ:LYFT) by 50.0% in the second quarter, HoldingsChannel.com reports. The firm owned 2,062,351 shares of the ride-sharing company’s stock after selling 2,062,352 shares during the period. Maple Rock Capital Partners Inc.’s holdings in Lyft were worth $30,131,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Empowered Funds LLC increased its stake in shares of Lyft by 13.7% in the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after purchasing an additional 2,921 shares in the last quarter. Focus Partners Wealth lifted its stake in shares of Lyft by 44.0% during the 1st quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock valued at $607,000 after buying an additional 15,621 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Lyft in the 2nd quarter worth $470,000. Invesco Ltd. boosted its holdings in Lyft by 87.5% in the 2nd quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock worth $16,783,000 after buying an additional 497,118 shares during the period. Finally, California Public Employees Retirement System boosted its holdings in Lyft by 12.6% in the 2nd quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock worth $11,177,000 after buying an additional 79,634 shares during the period. 83.07% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director David Lawee sold 4,613 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.33, for a total value of $79,943.29. Following the completion of the transaction, the director 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 36,214 shares of Lyft stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $16.14, for a total value of $584,493.96. Following the completion of the transaction, the insider owned 817,517 shares of the company’s stock, valued at approximately $13,194,724.38. This represents a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 98,816 shares of company stock worth $1,615,095. Insiders own 0.92% of the company’s stock.

Lyft Trading Down 4.5%

LYFT stock opened at $16.90 on Tuesday. The firm has a fifty day moving average price of $15.99 and a 200 day moving average price of $14.53. Lyft, Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $6.40 billion, a PE ratio of 2.46, a price-to-earnings-growth ratio of 1.09 and a beta of 1.80.

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LYFT shares. Canaccord Genuity Group raised their price target on Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a report on Monday, August 10th. Citigroup assumed coverage on Lyft in a research report on Wednesday, June 17th. They set a “buy” rating for the company. Oppenheimer began coverage on Lyft in a research note on Wednesday, June 17th. They issued an “outperform” rating for the company. Bank of America raised shares of Lyft from an “underperform” rating to a “buy” rating in a research note on Friday, August 7th. Finally, Guggenheim reiterated a “buy” rating on shares of Lyft in a research note on Wednesday, June 10th. Thirteen research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.80.

Lyft Company Profile

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.