Pacer Advisors Inc. Invests $90.60 Million in Lyft, Inc. (NASDAQ:LYFT)

Pacer Advisors Inc. acquired a new position in Lyft, Inc. (NASDAQ:LYFT) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 7,106,218 shares of the ride-sharing company’s stock, valued at approximately $90,604,000. Pacer Advisors Inc. owned about 1.73% of Lyft at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LYFT. International Assets Investment Management LLC acquired a new stake in shares of Lyft during the 2nd quarter worth approximately $35,000. Brown Brothers Harriman & Co. acquired a new stake in Lyft during the 2nd quarter worth $35,000. Capital Performance Advisors LLP bought a new stake in shares of Lyft during the 3rd quarter valued at $38,000. Quarry LP lifted its stake in shares of Lyft by 4,032.6% in the 2nd quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock valued at $50,000 after purchasing an additional 3,468 shares during the period. Finally, Benjamin Edwards Inc. acquired a new position in shares of Lyft in the 2nd quarter valued at $72,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the transaction, the director now directly owns 929,638 shares in the company, valued at approximately $10,523,502.16. This trade represents a 0.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lisa Blackwood-Kapral sold 9,081 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $18.02, for a total transaction of $163,639.62. Following the completion of the sale, the chief accounting officer now owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,799 shares of company stock worth $537,082. 3.07% of the stock is owned by corporate insiders.

Lyft Stock Down 2.7 %

Shares of NASDAQ:LYFT opened at $16.31 on Friday. The business’s 50-day moving average is $14.06 and its 200-day moving average is $13.61. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of -101.94, a P/E/G ratio of 4.81 and a beta of 2.04. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75.

Lyft (NASDAQ:LYFT) last released its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter in the previous year, the company earned ($0.02) EPS. Lyft’s quarterly revenue was up 31.6% compared to the same quarter last year. Equities research analysts predict that Lyft, Inc. will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on LYFT shares. UBS Group lifted their price target on shares of Lyft from $13.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Truist Financial upped their price target on Lyft from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, November 7th. Tigress Financial lifted their target price on Lyft from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday. BMO Capital Markets boosted their target price on shares of Lyft from $13.00 to $18.00 and gave the stock a “market perform” rating in a report on Thursday, November 7th. Finally, Wells Fargo & Company restated a “market perform” rating on shares of Lyft in a research note on Friday, October 18th. Twenty-eight equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Lyft has an average rating of “Hold” and a consensus target price of $17.55.

About Lyft

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.