Stock traders buy high volume call options on Lyft (NASDAQ:LYFT)
Lyft, Inc. (NASDAQ: LYFT – Get Rating) was the beneficiary of unusually large options trades on Thursday. Traders acquired 96,312 call options on the company. This represents an increase of approximately 79% over the average volume of 53,945 call options.
Insiders place their bets
In other Lyft news, insider Kristin Sverchek sold 13,000 shares of the company in a trade that took place on Tuesday, August 9. The stock was sold at an average price of $18.98, for a total transaction of $246,740.00. Following the transaction, the insider now owns 70,350 shares of the company, valued at approximately $1,335,243. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Insiders of the company own 3.31% of the shares of the company.
Lyft Institutional Commerce
Several institutional investors have recently increased or reduced their stake in LYFT. MCF Advisors LLC bought a new position in Lyft stock during the first quarter worth about $25,000. Clearstead Advisors LLC increased its position in Lyft stock by 58.9% during the second quarter. Clearstead Advisors LLC now owns 1,845 shares of the rideshare company worth $25,000 after acquiring an additional 684 shares during the period. Elequin Capital LP bought a new position in Lyft stock during the first quarter worth about $26,000. Rockbridge Investment Management LCC increased its stake in Lyft to 95.6% during the fourth quarter. Rockbridge Investment Management LCC now owns 671 shares of the ride-hailing company valued at $29,000 after buying 328 additional shares during the period. Finally, Fifth Third Bancorp increased its holdings in Lyft by 261.7% during the second quarter. Fifth Third Bancorp now owns 2,344 shares of the ride-hailing company valued at $31,000 after purchasing an additional 1,696 shares during the period. Institutional investors hold 76.49% of the company’s shares.
Lyft trades up 12.8%
Shares of NASDAQ:LYFT traded at $1.88 during Thursday’s trading, hitting $16.57. The company’s stock had a trading volume of 1,151,486 shares, compared to an average trading volume of 9,904,616 shares. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt ratio of 0.84. Lyft has a 12-month low of $11.96 and a 12-month high of $57.68. The company’s 50-day simple moving average is $15.18 and its two-hundred-day simple moving average is $23.57. The stock has a market capitalization of $5.78 billion, a PE ratio of -6.03 and a beta of 1.74.
Lyft (NASDAQ:LYFT – Get Rating) last reported quarterly results on Thursday, August 4. The ride-hailing company reported EPS of $0.13 for the quarter, beating analyst consensus estimates of ($0.05) by $0.18. Lyft had a negative net margin of 24.44% and a negative return on equity of 46.36%. The company posted revenue of $990.70 million in the quarter, compared to a consensus estimate of $988.14 million. In the same quarter last year, the company achieved EPS of ($0.68). The company’s revenue for the quarter increased by 29.5% compared to the same quarter last year. On average, research analysts predict Lyft will post -1.46 EPS for the current fiscal year.
Wall Street analysts predict growth
A number of brokerages have recently commented on LYFT. Wells Fargo & Company lowered its price target on Lyft from $49.00 to $42.00 and set an “overweight” rating on the stock in a Monday, Aug. 8 research report. Evercore ISI lowered its price target on Lyft from $45.00 to $42.00 and set an “outperform” rating on the stock in a Thursday, July 7 research report. Jefferies Financial Group lowered its price target on Lyft from $34.00 to $20.00 in a Tuesday, May 31 research report. Stifel Nicolaus raised his price target on Lyft from $18.00 to $19.00 in a Friday, August 5 research report. Finally, Credit Suisse Group lowered its price target on Lyft from $50.00 to $46.00 and set an “outperform” rating on the stock in a Wednesday, Aug. 3 research report. One investment analyst gave the stock a sell rating, nine gave the company a hold rating and sixteen gave the company a buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.09.
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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 provide riders with personalized, on-demand access to a variety of mobility options. It supplies the carpooling market, which connects drivers with passengers; Express Drive, a flexible car rental program for drivers; Lyft Rentals, which provides vehicles for long-distance trips; and a network of shared bicycles and scooters in different cities to meet the needs of cyclists for short trips.
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