Advisors Asset Management Inc. Raises Stake in Lyft, Inc. (NASDAQ:LYFT)

Advisors Asset Management Inc. grew its holdings in Lyft, Inc. (NASDAQ:LYFTGet 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 stock opened at $11.21 on Friday. Lyft, Inc. has a 1 year low of $10.60 and a 1 year high of $48.80. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a 50 day moving average price of $13.77 and a 200 day moving average price of $15.32. The company has a market cap of $4.05 billion, a price-to-earnings ratio of -3.13 and a beta of 1.68.

Lyft Company Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding LYFT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lyft, Inc. (NASDAQ:LYFTGet Rating).

Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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.