B. Riley Wealth Advisors Inc. Raises Stake in Lyft, Inc. (NASDAQ:LYFT)

B. Riley Wealth Advisors Inc. boosted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 37.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 45,976 shares of the ride-sharing company’s stock after buying an additional 12,462 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Lyft were worth $585,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LYFT. True Wealth Design LLC acquired a new stake in shares of Lyft in the third quarter worth $27,000. Brown Brothers Harriman & Co. acquired a new stake in Lyft during the 2nd quarter worth about $35,000. International Assets Investment Management LLC purchased a new position in shares of Lyft during the 2nd quarter valued at about $35,000. Capital Performance Advisors LLP acquired a new position in shares of Lyft in the 3rd quarter valued at about $38,000. Finally, Quarry LP boosted its stake in shares of Lyft by 4,032.6% in the second quarter. Quarry LP now owns 3,554 shares of the ride-sharing company’s stock worth $50,000 after buying an additional 3,468 shares during the last quarter. 83.07% of the stock is currently owned by institutional investors and hedge funds.

Lyft Price Performance

Lyft stock opened at $13.61 on Thursday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. The company has a 50-day moving average price of $15.41 and a 200 day moving average price of $13.54. Lyft, Inc. has a 12-month low of $8.93 and a 12-month high of $20.82. The stock has a market cap of $5.65 billion, a P/E ratio of -85.06, a PEG ratio of 4.47 and a beta of 2.09.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.44 billion. During the same quarter last year, the firm earned ($0.02) EPS. The business’s revenue was up 31.6% compared to the same quarter last year. Sell-side analysts anticipate that Lyft, Inc. will post 0.08 earnings per share for the current year.

Wall Street Analyst Weigh In

LYFT has been the subject of several recent research reports. DA Davidson lifted their price target on Lyft from $11.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Truist Financial boosted their target price on shares of Lyft from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Thursday, November 7th. Needham & Company LLC restated a “hold” rating on shares of Lyft in a research report on Thursday, November 7th. Morgan Stanley lifted their price objective on shares of Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a report on Thursday, November 7th. Finally, Wedbush reissued a “neutral” rating and set a $20.00 target price (up from $12.00) on shares of Lyft in a research note on Thursday, November 7th. Twenty-eight research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $17.77.

Insider Buying and Selling at Lyft

In related news, CAO Lisa Blackwood-Kapral sold 9,081 shares of Lyft stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the completion of the sale, the chief accounting officer now owns 332,243 shares in the company, valued at approximately $5,987,018.86. This trade represents a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Logan Green sold 10,919 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total value of $188,352.75. Following the transaction, the director now owns 314,492 shares in the company, valued at $5,424,987. This trade represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,242 shares of company stock worth $427,330 over the last quarter. 3.07% of the stock is currently owned by company insiders.

Lyft Company 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.