Advisors Asset Management Inc. grew its holdings in Lyft, Inc. (NASDAQ:LYFT – Get Rating) by 8.8% in the second quarter, Holdings Channel.com reports. The institutional investor owned 28,442 shares of the ride-sharing company’s stock after acquiring an additional 2,301 shares during the quarter. Advisors Asset Management Inc.’s holdings in Lyft were worth $378,000 as of its most recent filing with the SEC.
Several other hedge funds have also made changes to their positions in the business. MCF Advisors LLC purchased a new position in Lyft during the 1st quarter worth $25,000. Elequin Capital LP acquired a new position in shares of Lyft during the first quarter worth about $26,000. Prospera Financial Services Inc purchased a new position in Lyft during the first quarter worth about $59,000. GoalVest Advisory LLC purchased a new stake in Lyft in the 1st quarter valued at approximately $83,000. Finally, Fifth Third Bancorp increased its position in Lyft by 261.7% during the 2nd quarter. Fifth Third Bancorp now owns 2,344 shares of the ride-sharing company’s stock worth $31,000 after purchasing an additional 1,696 shares during the period. Institutional investors and hedge funds own 76.49% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on LYFT. Cowen reduced their price target on Lyft from $42.00 to $36.00 and set an “outperform” rating for the company in a report on Tuesday, November 8th. Credit Suisse Group decreased their target price on shares of Lyft from $46.00 to $35.00 and set an “outperform” rating on the stock in a research report on Friday, November 4th. Susquehanna cut their price target on shares of Lyft from $23.00 to $13.00 and set a “neutral” rating for the company in a report on Tuesday, November 8th. DA Davidson decreased their price objective on shares of Lyft from $25.00 to $19.00 and set a “buy” rating on the stock in a report on Tuesday, November 8th. Finally, Guggenheim lowered their target price on shares of Lyft from $32.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.21.
Lyft Price Performance
Lyft Company Profile
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.
- Get a free copy of the StockNews.com research report on Lyft (LYFT)
- MarketBeat: Week in Review 11/14 – 11/18
- Target’s Double Bottom Might Have Just Been Confirmed
- How High Can the Fed Go? How to Trade it
- Does ASML’s November Rally Have Staying Power?
- Verra Mobility Stock Has Returned Back to the Station
Receive News & Ratings for Lyft Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lyft and related companies with MarketBeat.com's FREE daily email newsletter.