Lyft Target of Unusually Large Options Trading (NASDAQ:LYFT)

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Lyft, Inc. (NASDAQ:LYFTGet Rating) saw some unusual options trading activity on Thursday. Stock investors purchased 96,312 call options on the company. This is an increase of 79% compared to the typical volume of 53,945 call options.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Stifel Nicolaus raised their price objective on shares of Lyft from $18.00 to $19.00 in a research note on Friday, August 5th. KeyCorp assumed coverage on shares of Lyft in a research note on Tuesday, July 12th. They set a “sector weight” rating for the company. BTIG Research dropped their price objective on shares of Lyft from $60.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, July 19th. Sanford C. Bernstein started coverage on shares of Lyft in a research note on Tuesday, May 24th. They set a “market perform” rating and a $22.00 price objective for the company. Finally, Jefferies Financial Group decreased their target price on shares of Lyft from $34.00 to $20.00 in a research report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $37.09.

Insider Buying and Selling at Lyft

In other Lyft news, insider Kristin Sverchek sold 13,000 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $18.98, for a total value of $246,740.00. Following the completion of the transaction, the insider now directly owns 70,350 shares of the company’s stock, valued at $1,335,243. The sale was disclosed in a filing with the SEC, which is available at this link. 3.31% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Lyft

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Baird Financial Group Inc. increased its stake in Lyft by 6.2% during the 4th quarter. Baird Financial Group Inc. now owns 24,628 shares of the ride-sharing company’s stock worth $1,052,000 after buying an additional 1,443 shares during the period. Dimensional Fund Advisors LP increased its stake in Lyft by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 470,562 shares of the ride-sharing company’s stock worth $20,110,000 after buying an additional 8,302 shares during the period. AlphaCrest Capital Management LLC increased its stake in Lyft by 162.6% during the 4th quarter. AlphaCrest Capital Management LLC now owns 19,194 shares of the ride-sharing company’s stock worth $820,000 after buying an additional 11,886 shares during the period. Principal Financial Group Inc. increased its stake in Lyft by 1.6% during the 4th quarter. Principal Financial Group Inc. now owns 37,458 shares of the ride-sharing company’s stock worth $1,601,000 after buying an additional 600 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Lyft during the 4th quarter worth $1,208,000. Institutional investors and hedge funds own 76.49% of the company’s stock.

Lyft Stock Performance

NASDAQ:LYFT opened at $17.17 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of -6.58 and a beta of 1.74. The firm’s fifty day simple moving average is $15.25 and its 200 day simple moving average is $23.41. Lyft has a twelve month low of $11.96 and a twelve month high of $57.68.

Lyft (NASDAQ:LYFTGet Rating) last posted 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 business had revenue of $990.70 million for the quarter, compared to analyst estimates of $988.14 million. Lyft had a negative net margin of 24.44% and a negative return on equity of 46.36%. The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.68) EPS. As a group, equities research analysts expect that Lyft will post -1.46 earnings per share for the current fiscal year.

About Lyft

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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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