Maple Rock Capital Partners Inc. Sells 2,062,352 Shares of Lyft, Inc. $LYFT

Maple Rock Capital Partners Inc. lowered its holdings in Lyft, Inc. (NASDAQ:LYFT) by 50.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,062,351 shares of the ride-sharing company’s stock after selling 2,062,352 shares during the quarter. Maple Rock Capital Partners Inc. owned 0.54% of Lyft worth $30,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of LYFT. Empowered Funds LLC lifted its stake in Lyft by 13.7% during the 1st quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock valued at $287,000 after acquiring an additional 2,921 shares during the period. Focus Partners Wealth grew its stake in shares of Lyft by 44.0% in the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after acquiring an additional 15,621 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Lyft in the second quarter worth approximately $470,000. Invesco Ltd. grew its stake in shares of Lyft by 87.5% in the second quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock worth $16,783,000 after acquiring an additional 497,118 shares during the period. Finally, California Public Employees Retirement System raised its holdings in shares of Lyft by 12.6% during the second quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock valued at $11,177,000 after purchasing an additional 79,634 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors.

Lyft Stock Performance

LYFT opened at $16.90 on Tuesday. The company’s 50 day moving average is $15.99 and its 200 day moving average is $14.53. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.33. The company has a market cap of $6.40 billion, a price-to-earnings ratio of 2.46, a PEG ratio of 1.09 and a beta of 1.80. Lyft, Inc. has a 12-month low of $12.46 and a 12-month high of $25.54.

Lyft (NASDAQ:LYFT) last announced its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Lyft had a net margin of 42.32% and a negative return on equity of 1.20%. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. On average, equities research analysts predict that Lyft, Inc. will post 0.73 EPS for the current year.

Insider Activity

In related news, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction on Monday, August 24th. The stock was sold at an average price of $17.63, for a total transaction of $264,450.00. Following the transaction, the chief financial officer directly owned 852,303 shares in the company, valued at approximately $15,026,101.89. The trade was a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director David Lawee sold 4,613 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $17.33, for a total value of $79,943.29. Following the sale, the director directly owned 119,124 shares of the company’s stock, valued at $2,064,418.92. This represents a 3.73% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 98,816 shares of company stock worth $1,615,095. Company insiders own 0.92% of the company’s stock.

Analyst Ratings Changes

LYFT has been the topic of several research reports. Susquehanna restated a “neutral” rating and issued a $18.00 target price on shares of Lyft in a report on Monday, August 10th. UBS Group boosted their target price on shares of Lyft from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Roth Capital reissued a “buy” rating and set a $25.00 price target (up from $23.00) on shares of Lyft in a report on Monday, August 10th. Cantor Fitzgerald raised their price target on Lyft from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Finally, Rothschild & Co Redburn upgraded Lyft from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, June 17th. Thirteen research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.80.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.