MML Investors Services LLC Has $1.95 Million Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Posted by Defense World Staff on Feb 28th, 2023

MML Investors Services LLC grew its stake in shares of Lyft, Inc. (NASDAQ:LYFT – Get Rating) by 4.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 147,888 shares of the ride-sharing company’s stock after purchasing an additional 6,918 shares during the period. MML Investors Services LLC’s holdings in Lyft were worth $1,948,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in LYFT. Clearstead Advisors LLC raised its holdings in shares of Lyft by 58.9% during the second quarter. Clearstead Advisors LLC now owns 1,845 shares of the ride-sharing company’s stock valued at $25,000 after purchasing an additional 684 shares during the period. Wipfli Financial Advisors LLC acquired a new stake in shares of Lyft in the 3rd quarter worth about $26,000. Fifth Third Bancorp raised its holdings in shares of Lyft by 261.7% in the 2nd quarter. Fifth Third Bancorp now owns 2,344 shares of the ride-sharing company’s stock worth $31,000 after acquiring an additional 1,696 shares during the last quarter. TD Capital Management LLC acquired a new stake in shares of Lyft in the 3rd quarter worth about $38,000. Finally, Castleview Partners LLC raised its holdings in shares of Lyft by 1,228.0% in the 2nd quarter. Castleview Partners LLC now owns 664 shares of the ride-sharing company’s stock worth $50,000 after acquiring an additional 614 shares during the last quarter. Institutional investors and hedge funds own 79.44% of the company’s stock.

Lyft Trading Down 2.0 %

Lyft stock opened at $10.00 on Tuesday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.89 and a current ratio of 0.89. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $40.46. The firm’s fifty day moving average price is $13.01 and its 200-day moving average price is $13.45.

Insider Activity at Lyft

In related news, Director Mary Agnes Wilderotter sold 1,826 shares of the stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $16.65, for a total transaction of $30,402.90. Following the transaction, the director now owns 36,904 shares of the company’s stock, valued at approximately $614,451.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.31% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Citigroup downgraded shares of Lyft from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $45.00 to $17.00 in a research report on Friday, February 10th. Cowen downgraded shares of Lyft from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $36.00 to $14.00 in a research report on Monday, November 21st. Wells Fargo & Company downgraded shares of Lyft from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $21.25 to $13.00 in a research report on Friday, February 10th. Argus downgraded shares of Lyft from a “buy” rating to a “hold” rating in a research report on Tuesday, February 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Lyft from $15.00 to $11.00 and set a “hold” rating for the company in a research report on Friday, February 10th. One research analyst has rated the stock with a sell rating, twenty-eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $17.54.

Lyft Profile

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Lyft, Inc engages in the provision and management of an online social rideshare community platform. It provides access to a network of shared bikes and scooters for shorter rides and first-mile and last-mile legs of multimodal trips, information about nearby public transit routes, and Lyft Rentals to offer riders a view of transportation options when planning any trip.