Stock traders buy high volume of Lyft put options (NASDAQ: LYFT)

Lyft, Inc. (NASDAQ:LYFT – Get Rating) was the target of unusually large options trades on Wednesday. Investors bought 79,185 put options on the stock. This is a 63% increase from the typical daily volume of 48,491 puts.

Insider Trading at Lyft

In other 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 value of $246,740.00. Following the transaction, the insider now directly owns 70,350 shares of the company, valued at approximately $1,335,243. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. 3.31% of the shares are held by insiders of the company.

Hedge funds weigh on Lyft

A number of large investors have recently increased or reduced their stake in the company. Vanguard Group Inc. increased its stake in Lyft by 1.9% during Q1. Vanguard Group Inc. now owns 25,428,704 shares of the ride-hailing company worth $976,462,000 after buying an additional 483,630 shares last quarter. Clearbridge Investments LLC increased its holdings of Lyft stock by 46.4% in Q1. Clearbridge Investments LLC now owns 6,470,972 shares of the rideshare company valued at $248,485,000 after acquiring an additional 2,050,430 shares last quarter. American Century Companies Inc. increased its holdings of Lyft stock by 25.9% in Q1. American Century Companies Inc. now owns 6,068,020 shares of the ride-sharing company valued at $233,012,000 after acquiring an additional 1,249,383 shares last quarter. Frontier Capital Management Co. LLC bought a new position in Lyft stock in Q2 worth approximately $34,868,000. Finally, Cavalry Management Group LLC increased its holdings of Lyft stock by 21.4% in Q2. Cavalry Management Group LLC now owns 2,440,238 shares of the ride-hailing company valued at $32,406,000 after acquiring an additional 429,876 shares last quarter. Institutional investors hold 76.49% of the company’s shares.

Stock Lyft up 2.4%

LYFT stock traded at $0.34 during trading hours on Wednesday, hitting $14.50. 14,690,745 shares were traded, against an average volume of 11,269,670. The company’s 50-day moving average is $16.01 and its 200-day moving average is $21.31. The company has a market capitalization of $5.05 billion, a price-earnings ratio of -5.56 and a beta of 1.74. The company has a debt ratio of 0.84, a current ratio of 0.90 and a quick ratio of 0.90. Lyft has a 12-month low of $11.96 and a 12-month high of $57.68.

Lyft (NASDAQ:LYFT – Get Rating) last reported results on Thursday, August 4. The ride-hailing company reported earnings per share (EPS) of $0.13 for the quarter, beating analyst consensus estimates of $0.05 ($0.18). The company posted revenue of $990.70 million in the quarter, compared to $988.14 million expected by analysts. Lyft had a negative return on equity of 46.36% and a negative net margin of 24.44%. The company’s revenue increased 29.5% year over year. In the same quarter of the previous year, the company achieved EPS of ($0.68). On average, equity research analysts expect Lyft to post -1.42 earnings per share for the current year.

A Wall Street analyst gives his opinion

Several research companies have published reports on LYFT. Barclays cut its price target on Lyft from $32.00 to $20.00 and set an “equal weight” rating on the stock in a Friday, Aug. 5 report. DA Davidson cut its price target on Lyft from $27.00 to $25.00 and set a “buy” rating on the stock in a Friday, August 5 report. Guggenheim cut its price target on Lyft from $32.00 to $28.00 and set a “buy” rating on the stock in a Monday, Aug. 15 report. KeyCorp began covering Lyft in a report on Tuesday, July 12. They set a “sector weight” rating on the stock. Finally, UBS Group downgraded Lyft from a “buy” rating to a “neutral” rating and lowered its price target for the stock from $50.00 to $16.00 in a report on Monday. One research analyst rated the stock with a sell rating, ten gave a hold rating and fifteen issued a buy rating for the company’s stock. Based on data from MarketBeat, Lyft currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

About Lyft

(Get a rating)

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.

Further reading

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