PFS Investments Inc. boosted its position in shares of Lyft, Inc. (NASDAQ:LYFT – Get Rating) by 19.7% in the fourth quarter, Holdings Channel reports. The firm owned 56,219 shares of the ride-sharing company’s stock after purchasing an additional 9,233 shares during the period. PFS Investments Inc.’s holdings in Lyft were worth $2,402,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Amundi Pioneer Asset Management Inc. bought a new position in Lyft during the first quarter worth about $39,000. Ensign Peak Advisors Inc acquired a new stake in Lyft during the 3rd quarter worth approximately $49,000. Concord Wealth Partners raised its holdings in Lyft by 64.2% during the 4th quarter. Concord Wealth Partners now owns 962 shares of the ride-sharing company’s stock worth $41,000 after buying an additional 376 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Lyft by 206.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,067 shares of the ride-sharing company’s stock worth $46,000 after buying an additional 719 shares during the period. Finally, Pacer Advisors Inc. acquired a new stake in Lyft during the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.
In related news, insider Kristin Sverchek sold 3,938 shares of Lyft stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $40.00, for a total transaction of $157,520.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 5.77% of the company’s stock.
LYFT stock opened at $19.07 on Friday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $6.65 billion, a PE ratio of -8.33 and a beta of 1.79. Lyft, Inc. has a 1-year low of $17.24 and a 1-year high of $63.07. The business’s 50 day simple moving average is $31.57 and its 200 day simple moving average is $38.23.
Lyft (NASDAQ:LYFT – Get Rating) last announced its earnings results on Tuesday, May 3rd. The ride-sharing company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.14. The business had revenue of $875.60 million during the quarter, compared to the consensus estimate of $845.91 million. Lyft had a negative net margin of 22.42% and a negative return on equity of 50.06%. Lyft’s revenue was up 43.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.86) EPS. As a group, sell-side analysts predict that Lyft, Inc. will post -1.87 EPS for the current fiscal year.
Lyft Company Profile (Get Rating)
Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.
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