Mercer Global Advisors Inc. ADV Acquires 1,640 Shares of Lyft, Inc. (NASDAQ:LYFT)

Mercer Global Advisors Inc. ADV boosted its stake in Lyft, Inc. (NASDAQ:LYFT) by 12.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,425 shares of the ride-sharing company’s stock after acquiring an additional 1,640 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Lyft were worth $203,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. FinTrust Capital Advisors LLC lifted its stake in Lyft by 277.8% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,360 shares of the ride-sharing company’s stock valued at $26,000 after acquiring an additional 1,000 shares in the last quarter. Kapitalo Investimentos Ltda bought a new position in Lyft in the 4th quarter worth about $34,000. International Assets Investment Management LLC purchased a new position in Lyft during the 2nd quarter valued at about $35,000. Brown Brothers Harriman & Co. bought a new stake in Lyft during the 2nd quarter worth approximately $35,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Lyft in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Performance

Shares of LYFT stock opened at $12.49 on Wednesday. Lyft, Inc. has a 1 year low of $8.85 and a 1 year high of $20.82. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.74 and a quick ratio of 0.74. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of -26.57 and a beta of 2.04. The business has a fifty day moving average of $11.58 and a 200 day moving average of $14.42.

Lyft (NASDAQ:LYFT) last announced its quarterly earnings results on Wednesday, August 7th. The ride-sharing company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.05. Lyft had a negative return on equity of 8.57% and a negative net margin of 1.27%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the business earned ($0.14) EPS. Lyft’s revenue for the quarter was up 40.6% compared to the same quarter last year. As a group, research analysts expect that Lyft, Inc. will post -0.16 earnings per share for the current year.

Insiders Place Their Bets

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the completion of the sale, the director now directly owns 929,638 shares of the company’s stock, valued at approximately $10,523,502.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $11.32, for a total transaction of $27,439.68. Following the sale, the director now owns 929,638 shares of the company’s stock, valued at $10,523,502.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 4,243 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $12.00, for a total value of $50,916.00. Following the sale, the insider now directly owns 760,089 shares of the company’s stock, valued at approximately $9,121,068. The disclosure for this sale can be found here. Insiders have sold a total of 32,664 shares of company stock worth $380,048 in the last ninety days. 3.07% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LYFT has been the topic of a number of analyst reports. Loop Capital decreased their price objective on shares of Lyft from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Cantor Fitzgerald reiterated a “neutral” rating and set a $13.00 price target on shares of Lyft in a research note on Monday. Nomura Securities raised Lyft from a “strong sell” rating to a “hold” rating in a research note on Friday, August 23rd. Roth Mkm reduced their price target on shares of Lyft from $19.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. decreased their price objective on Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Twenty-six research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Lyft currently has a consensus rating of “Hold” and an average target price of $15.65.

About Lyft

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.