The most recent report that Janney Montgomery Scott LLC submitted to the Securities and Exchange Commission (SEC) reveals that during the third quarter of 2018, the brokerage firm increased its holdings in Lyft, Inc. (NASDAQ: LYFT) by 84.9%. (SEC). After the expiration of the contract, the institutional investor purchased an additional 49,643 shares of the ridesharing company’s stock. This brought the total number of shares they currently own in the company to 108,083, bringing their total ownership to 108,083%. The value of the holdings Janney Montgomery Scott LLC had in Lyft was $1,423,000 as of the end of the most recent fiscal quarter.
Other significant investors in the company have recently made changes to the proportion of ownership that they hold in the company. During the third quarter, Fifth Third Bancorp increased the percentage of Lyft stock owned by a value of 567.6%. Fifth Third Bancorp now has 15,648 shares of the ridesharing business, valued at $206,000, thanks to purchasing an additional 13,304 shares during the most recent quarter. Granite Investment Partners LLC spent approximately $2,449,000 on purchasing a new Lyft investment during the third quarter of 2018. The percentage of Lyft stock that Strategic Wealth Investment Group LLC owns has increased by 20.0% since the beginning of the third quarter. Strategic Wealth Investment Group LLC now has 118,927 shares of the ridesharing business, valued at $1,566,000, after purchasing an additional 19,786 shares during the most recent quarter. PSI Advisors LLC grew its holdings in Lyft by 23.1% during the third quarter and added more shares to its portfolio. After purchasing an additional 1,200 shares during the most recent quarter of trading, PSI Advisors LLC now owns 6,400 shares of the ridesharing company, which have a value of $84,000. These shares were acquired during the most recent quarter of trading.
Last but not least, FinTrust Capital Advisors LLC increased the amount of Lyft stock owned by 4,166.7% during the third quarter. This certainly should not be considered the least important development. Following the acquisition of an additional 15,000 shares of the ridesharing company’s stock during the most recent quarter, FinTrust Capital Advisors LLC now holds a total of 15,360 shares of the ridesharing company’s stock. Each share of the company’s stock is currently valued at $202,000. Institutional investors own 79.44% of the company’s shares, making them the majority of the shareholders.
Multiple analysts have published recent reports on LYFT shares, which were published relatively recently. In a report distributed on Tuesday, November 8th, Wedbush lowered its price target on Lyft shares from $25.00 to $17.00. The stock brokerage firm has maintained its “outperform” rating for the company despite this change. In a research report that was released on Tuesday, November 8th, Evercore ISI lowered their price target for Lyft from $41.00 to $18.00 and downgraded the company from an “outperform” rating to an “in-line” rating. Wells Fargo & Company stated on November 9th, 2018, in a report that was made public, that they have decreased their price objective on Lyft shares from $42.00 to $30.00. The new price objective can be found here. Northcoast Research changed its previous recommendation of “buy” for shares of Lyft to a “neutral” rating in a study published on November 9th. The study was about the company’s stock. And finally, in a research note released on November 8th, the UBS Group lowered both their “neutral” rating on Lyft shares and their target price, which had been set at $16.00 but is now only $12.00. This was done in conjunction with the fact that they lowered their target price. One analyst has issued a recommendation to sell the stock, fifteen analysts have issued a recommendation to hold the stock, fourteen analysts have issued a recommendation to hold the stock, and fourteen analysts have issued a recommendation to buy the stock. According to Bloomberg.com, the current recommendation for Lyft is “Hold,” and the average price objective for the company is $25.07; this information was derived from market analysts.
LYFT shares were first traded on Tuesday for $14.49. The company’s market capitalization is currently sitting at $5.23 billion, its price-to-earnings ratio is -4.05, and its beta is 1.53. 0.89 is the value that emerges when adding up all three ratios, including the quick, current, and debt-to-equity ratios. Lyft, Inc. reached its all-time high of $45.65 during its most recent 52-week period, while its 52-week low was $9.66. The moving averages for the company currently stand at $11.43 for the last 50 days and $13.62 for the last 200 days. These figures were most recently found in the company’s financial statements.
On Monday, November 7th, 2018, Lyft (NASDAQ: LYFT) disseminated its most recent quarterly results report to the public. The ridesharing company reported earnings per share of $0.52 for the third quarter, which was below industry analysts’ estimates, who had predicted earnings per share of $0.38 for the period. This difference was a margin of $0.14. The revenue for the quarter came in at $1.05 billion, which is on par with the predictions made by most analysts, which were also for $1.05 billion. In the case of Lyft, the company’s profit margin was 32.26%, and its return on equity was 54.39%. Both of these figures were below 50%. Analysts specializing in equity research predict that Lyft, Inc. will report an operating loss of $1.82 per share for the current fiscal year.
Lyft, Inc. runs a peer-to-peer marketplace in the United States and Canada that allows individuals to share rides on demand. The organization keeps up multimodal transportation networks to give customers individualized and on-demand access to various mobility options that can be tailored to meet their specific requirements. It provides:
A ridesharing marketplace that connects drivers and passengers.
Lyft Rentals, which provides vehicles for long-distance trips.
Express Drive is a versatile car rental program for drivers.
A network of shared bikes and scooters in various cities to meet the needs of riders for short trips.