Versor Investments LP Purchases New Stake in Lyft, Inc. (NASDAQ:LYFT)

Posted by on Apr 14th, 2023

Versor Investments LP purchased a new stake in Lyft, Inc. (NASDAQ:LYFT – Get Rating) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,900 shares of the ride-sharing company’s stock, valued at approximately $550,000.

Several other institutional investors have also recently added to or reduced their stakes in LYFT. Geneos Wealth Management Inc. increased its stake in Lyft by 4.1% during the first quarter. Geneos Wealth Management Inc. now owns 13,303 shares of the ride-sharing company’s stock valued at $510,000 after purchasing an additional 530 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Lyft by 1.8% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 47,604 shares of the ride-sharing company’s stock worth $626,000 after acquiring an additional 831 shares during the last quarter. Krilogy Financial LLC grew its position in shares of Lyft by 2.5% during the third quarter. Krilogy Financial LLC now owns 34,532 shares of the ride-sharing company’s stock worth $455,000 after acquiring an additional 853 shares during the last quarter. Guggenheim Capital LLC grew its position in shares of Lyft by 2.1% during the third quarter. Guggenheim Capital LLC now owns 41,912 shares of the ride-sharing company’s stock worth $552,000 after acquiring an additional 876 shares during the last quarter. Finally, Prudential Financial Inc. grew its position in shares of Lyft by 12.9% during the first quarter. Prudential Financial Inc. now owns 8,005 shares of the ride-sharing company’s stock worth $308,000 after acquiring an additional 914 shares during the last quarter. 79.44% of the stock is owned by institutional investors and hedge funds.

Lyft Stock Performance

Lyft stock opened at $10.00 on Friday. The company has a debt-to-equity ratio of 2.07, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a fifty day moving average price of $10.59 and a two-hundred day moving average price of $11.96. Lyft, Inc. has a 52-week low of $8.19 and a 52-week high of $36.92. The firm has a market capitalization of $3.78 billion, a P/E ratio of -2.24 and a beta of 1.73.

Analyst Ratings Changes

Several equities analysts have recently commented on LYFT shares. Gordon Haskett lowered shares of Lyft from a “buy” rating to a “hold” rating in a research report on Monday, February 6th. Citigroup downgraded shares of Lyft from a “buy” rating to a “neutral” rating and cut their price target for the company from $45.00 to $17.00 in a report on Friday, February 10th. Jefferies Financial Group began coverage on shares of Lyft in a report on Monday, January 9th. They issued a “hold” rating and a $12.00 price target for the company. Truist Financial downgraded shares of Lyft from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $14.00 in a report on Friday, February 10th. Finally, Cowen reduced their price objective on shares of Lyft from $14.00 to $11.00 and set a “market perform” rating for the company in a research note on Friday, February 10th. One research analyst has rated the stock with a sell rating, twenty-eight have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.57.

Insiders Place Their Bets

In other news, Director Mary Agnes Wilderotter sold 1,826 shares of the firm’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $16.65, for a total value of $30,402.90. Following the completion of the sale, the director now directly owns 36,904 shares in the company, valued at $614,451.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.31% of the company’s stock.

Lyft Company 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.

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Institutional Ownership by Quarter for Lyft (NASDAQ:LYFT)

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