Ardmore Road Asset Management LP Purchases New Position in Lyft, Inc. $LYFT

Ardmore Road Asset Management LP acquired a new position in Lyft, Inc. (NASDAQ:LYFT) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 300,322 shares of the ride-sharing company’s stock, valued at approximately $3,994,000.

Other hedge funds have also bought and sold shares of the company. OMERS ADMINISTRATION Corp lifted its position in shares of Lyft by 35.6% during the first quarter. OMERS ADMINISTRATION Corp now owns 127,267 shares of the ride-sharing company’s stock worth $1,693,000 after acquiring an additional 33,400 shares in the last quarter. Lombard Odier Asset Management USA Corp bought a new position in shares of Lyft in the first quarter worth $244,000. Boreal Capital Management LLC purchased a new position in shares of Lyft in the first quarter valued at $31,000. Cannell & Spears LLC purchased a new position in Lyft during the 1st quarter valued at about $439,000. Finally, Public Employees Retirement System of Ohio grew its stake in Lyft by 4.3% during the first quarter. Public Employees Retirement System of Ohio now owns 165,558 shares of the ride-sharing company’s stock valued at $2,202,000 after acquiring an additional 6,830 shares in the last quarter. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

Lyft Stock Performance

NASDAQ:LYFT opened at $14.20 on Monday. The company has a 50-day moving average price of $14.46 and a 200-day moving average price of $14.74. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 2.07, a P/E/G ratio of 0.84 and a beta of 1.80. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. Lyft, Inc. has a 12 month low of $12.46 and a 12 month high of $25.54.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.26). Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.63 billion. During the same quarter in the prior year, the firm earned $0.01 EPS. Lyft’s quarterly revenue was up 17.2% compared to the same quarter last year. Equities analysts predict that Lyft, Inc. will post 0.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Guggenheim restated a “buy” rating on shares of Lyft in a research note on Wednesday, June 10th. William Blair cut shares of Lyft to a “market perform” rating in a research report on Wednesday, June 17th. Oppenheimer began coverage on Lyft in a research report on Wednesday, June 17th. They issued an “outperform” rating for the company. Truist Financial upped their price objective on shares of Lyft from $15.00 to $16.00 and gave the company a “hold” rating in a research note on Friday, May 8th. Finally, Sanford C. Bernstein started coverage on Lyft in a research report on Wednesday, June 17th. They set an “underperform” rating for the company. Thirteen investment analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Lyft has an average rating of “Hold” and a consensus target price of $19.40.

Insider Transactions at Lyft

In other Lyft news, Director Jill Beggs sold 2,093 shares of Lyft stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total transaction of $28,799.68. Following the sale, the director directly owned 30,092 shares of the company’s stock, valued at approximately $414,065.92. The trade was a 6.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $15.00, for a total value of $172,365.00. Following the transaction, the insider owned 853,731 shares in the company, valued at $12,805,965. This trade represents a 1.33% decrease in their position. 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 45,535 shares of company stock valued at $637,456. Insiders own 0.92% of the company’s stock.

About Lyft

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.