Qsemble Capital Management LP Buys 10,743 Shares of Lyft, Inc. (NASDAQ:LYFT)

Qsemble Capital Management LP increased its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 99.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 21,524 shares of the ride-sharing company’s stock after buying an additional 10,743 shares during the period. Qsemble Capital Management LP’s holdings in Lyft were worth $274,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Pitcairn Co. bought a new stake in shares of Lyft during the 3rd quarter worth about $140,000. Algert Global LLC boosted its holdings in shares of Lyft by 23.7% during the 3rd quarter. Algert Global LLC now owns 263,509 shares of the ride-sharing company’s stock worth $3,360,000 after buying an additional 50,470 shares during the period. Cerity Partners LLC bought a new stake in shares of Lyft during the 3rd quarter worth about $1,057,000. Pacer Advisors Inc. bought a new stake in shares of Lyft during the 3rd quarter worth about $90,604,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Lyft during the 3rd quarter worth about $1,856,000. Institutional investors own 83.07% of the company’s stock.

Lyft Trading Down 2.4 %

LYFT opened at $17.18 on Thursday. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $20.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The firm has a market capitalization of $7.13 billion, a price-to-earnings ratio of -107.38, a PEG ratio of 5.19 and a beta of 2.04. The company’s 50 day moving average price is $14.51 and its two-hundred day moving average price is $13.58.

Lyft (NASDAQ:LYFT) last posted its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The firm had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.44 billion. During the same period in the previous year, the firm posted ($0.02) EPS. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year. As a group, research analysts predict that Lyft, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In other news, CAO Lisa Blackwood-Kapral sold 9,081 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $18.02, for a total value of $163,639.62. Following the sale, the chief accounting officer now directly owns 332,243 shares of the company’s stock, valued at approximately $5,987,018.86. This represents a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 4,242 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $17.76, for a total transaction of $75,337.92. Following the completion of the sale, the insider now directly owns 755,847 shares in the company, valued at approximately $13,423,842.72. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,990 shares of company stock valued at $317,333. 3.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on LYFT shares. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a report on Thursday, November 7th. Susquehanna boosted their price objective on shares of Lyft from $10.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Royal Bank of Canada cut their price objective on shares of Lyft from $24.00 to $17.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. UBS Group boosted their price objective on shares of Lyft from $13.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Twenty-eight analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $17.55.

Lyft Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.