Huber Capital Management LLC Acquires 241,814 Shares of Lyft, Inc. (NASDAQ:LYFT)

Huber Capital Management LLC raised its holdings in Lyft, Inc. (NASDAQ:LYFT) by 62.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 631,189 shares of the ride-sharing company’s stock after acquiring an additional 241,814 shares during the quarter. Lyft makes up 2.0% of Huber Capital Management LLC’s holdings, making the stock its 15th largest holding. Huber Capital Management LLC owned about 0.16% of Lyft worth $8,900,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LYFT. FinTrust Capital Advisors LLC grew its holdings in shares of Lyft by 277.8% in the first quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock worth $26,000 after purchasing an additional 1,000 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in Lyft in the 4th quarter valued at about $34,000. International Assets Investment Management LLC bought a new position in Lyft in the 2nd quarter worth about $35,000. Brown Brothers Harriman & Co. purchased a new position in shares of Lyft during the second quarter worth approximately $35,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Lyft during the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Evercore ISI reduced their price objective on Lyft from $18.00 to $17.00 and set an “in-line” rating on the stock in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft cut their price target on Lyft from $15.00 to $11.00 and set a “hold” rating on the stock in a research note on Thursday, August 8th. Gordon Haskett raised shares of Lyft from a “hold” rating to a “buy” rating and upped their price objective for the stock from $17.00 to $20.00 in a research note on Friday, June 7th. Loop Capital cut their target price on shares of Lyft from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Finally, Royal Bank of Canada reduced their price target on shares of Lyft from $24.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Twenty-six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $15.65.

Lyft Trading Down 0.5 %

NASDAQ LYFT opened at $12.47 on Friday. The stock has a market cap of $5.03 billion, a P/E ratio of -26.53 and a beta of 2.04. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 1.00. Lyft, Inc. has a 12-month low of $8.85 and a 12-month high of $20.82. The company has a fifty day simple moving average of $11.54 and a two-hundred day simple moving average of $14.70.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.05. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The firm’s revenue was up 40.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.14) EPS. On average, analysts forecast that Lyft, Inc. will post -0.16 earnings per share for the current year.

Insider Buying and Selling

In other Lyft news, President Kristin Sverchek sold 3,500 shares of Lyft stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $14.01, for a total transaction of $49,035.00. Following the completion of the sale, the president now directly owns 50,778 shares in the company, valued at approximately $711,399.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, President Kristin Sverchek sold 3,500 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $14.01, for a total transaction of $49,035.00. Following the sale, the president now directly owns 50,778 shares of the company’s stock, valued at $711,399.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Logan Green sold 10,323 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $11.62, for a total value of $119,953.26. Following the completion of the transaction, the director now directly owns 330,790 shares of the company’s stock, valued at $3,843,779.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 39,164 shares of company stock worth $470,513. 3.07% of the stock is owned by company insiders.

Lyft Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.