Prevatt Capital Ltd Makes New $25.27 Million Investment in Lyft, Inc. $LYFT

Prevatt Capital Ltd bought a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,900,000 shares of the ride-sharing company’s stock, valued at approximately $25,270,000. Lyft accounts for 6.8% of Prevatt Capital Ltd’s portfolio, making the stock its 6th largest holding.

Other institutional investors have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. grew its stake in shares of Lyft by 23.2% in the third quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company’s stock worth $75,000 after acquiring an additional 639 shares during the period. CI Investments Inc. lifted its position in Lyft by 39.1% during the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after purchasing an additional 653 shares during the period. PNC Financial Services Group Inc. lifted its position in Lyft by 5.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company’s stock valued at $248,000 after purchasing an additional 681 shares during the period. Allegiance Financial Group Advisory Services LLC boosted its holdings in Lyft by 4.3% in the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company’s stock worth $352,000 after purchasing an additional 756 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in Lyft by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company’s stock worth $3,684,000 after purchasing an additional 771 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Performance

LYFT opened at $15.37 on Friday. The company’s 50 day moving average is $14.04 and its 200 day moving average is $15.20. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The company has a market cap of $5.84 billion, a price-to-earnings ratio of 2.24, a PEG ratio of 0.88 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, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same period in the prior year, the company posted $0.01 earnings per share. The firm’s quarterly revenue was up 17.2% on a year-over-year basis. On average, equities research analysts predict that Lyft, Inc. will post 0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

LYFT has been the subject of a number of research analyst reports. Oppenheimer began coverage on shares of Lyft in a research report on Wednesday, June 17th. They issued an “outperform” rating for the company. Weiss Ratings restated a “hold (c)” rating on shares of Lyft in a research note on Wednesday, May 6th. Tigress Financial restated a “buy” rating and issued a $28.00 price target on shares of Lyft in a research note on Wednesday, June 24th. Guggenheim reaffirmed a “buy” rating on shares of Lyft in a report on Wednesday, June 10th. Finally, DA Davidson reduced their price objective on Lyft from $19.00 to $14.50 and set a “neutral” rating for the company in a research report on Monday, May 18th. Thirteen investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Lyft has an average rating of “Hold” and an average price target of $19.40.

Insider Buying and Selling at Lyft

In related news, Director Jill Beggs sold 2,093 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $28,799.68. Following the transaction, the director directly owned 30,092 shares of the company’s stock, valued at approximately $414,065.92. This trade represents a 6.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of Lyft stock in a transaction on Friday, June 12th. The shares were sold at an average price of $13.59, for a total value of $203,850.00. Following the transaction, the chief financial officer owned 705,979 shares in the company, valued at $9,594,254.61. This trade represents a 2.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 69,196 shares of company stock worth $992,371. 0.92% of the stock is currently owned by insiders.

Lyft 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.