Pacer Advisors Inc. Sells 448,430 Shares of Lyft, Inc. $LYFT

Pacer Advisors Inc. lessened its holdings in Lyft, Inc. (NASDAQ:LYFT) by 18.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,965,777 shares of the ride-sharing company’s stock after selling 448,430 shares during the quarter. Pacer Advisors Inc.’s holdings in Lyft were worth $38,077,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of Lyft during the fourth quarter valued at approximately $26,000. International Assets Investment Management LLC purchased a new position in Lyft in the fourth quarter worth $40,000. Huntington National Bank grew its stake in Lyft by 171.8% in the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after purchasing an additional 1,374 shares during the period. CI Investments Inc. increased its position in shares of Lyft by 39.1% during the 3rd quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after purchasing an additional 653 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of Lyft by 410.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock valued at $51,000 after purchasing an additional 2,587 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Insider Buying and Selling at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $15.00, for a total transaction of $172,365.00. Following the sale, the insider owned 853,731 shares in the company, valued at $12,805,965. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $75,129.60. Following the completion of the transaction, the chief accounting officer directly owned 335,463 shares of the company’s stock, valued at $4,615,970.88. The trade was a 1.60% decrease in their ownership of the stock. 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 90 days, insiders have sold 69,196 shares of company stock valued at $992,371. 0.92% of the stock is owned by corporate insiders.

Lyft Price Performance

LYFT stock opened at $14.28 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 2.08, a PEG ratio of 0.85 and a beta of 1.82. Lyft, Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The stock has a fifty day moving average of $13.97 and a 200-day moving average of $15.70.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The company’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. As a group, equities research analysts predict that Lyft, Inc. will post 0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

LYFT has been the topic of a number of research analyst reports. Morgan Stanley raised shares of Lyft from an “equal weight” rating to an “overweight” rating in a report on Wednesday. Zacks Research upgraded shares of Lyft from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lyft in a research report on Wednesday, May 6th. William Blair cut shares of Lyft to a “market perform” rating in a research note on Wednesday. Finally, Guggenheim reissued a “buy” rating on shares of Lyft in a research report on Wednesday, June 10th. Twelve equities research analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $18.93.

About Lyft

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.