Traders Buy Large Volume of Call Options on Lyft (NASDAQ:LYFT)
Lyft, Inc. (NASDAQ:LYFT – Get Free Report) saw unusually large options trading activity on Tuesday. Stock investors acquired 77,984 call options on the company. This is an increase of 88% compared to the average daily volume of 41,561 call options.
Lyft Stock Performance
NASDAQ LYFT opened at $14.36 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 1.78. The firm’s fifty day moving average price is $10.72 and its two-hundred day moving average price is $10.76. Lyft has a 1 year low of $7.85 and a 1 year high of $18.36. The firm has a market capitalization of $5.64 billion, a P/E ratio of -5.84 and a beta of 1.86.
Lyft (NASDAQ:LYFT – Get Free Report) last issued its quarterly earnings data on Wednesday, November 8th. The ride-sharing company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.16. Lyft had a negative net margin of 20.72% and a negative return on equity of 170.63%. The business had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.14 billion. As a group, research analysts anticipate that Lyft will post -0.76 EPS for the current year.
Insider Transactions at Lyft
In related news, CFO Erin Brewer sold 22,354 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $12.70, for a total transaction of $283,895.80. Following the completion of the sale, the chief financial officer now directly owns 1,906,812 shares of the company’s stock, valued at $24,216,512.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CAO Lisa Blackwood-Kapral sold 18,575 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $12.40, for a total transaction of $230,330.00. Following the sale, the chief accounting officer now owns 301,580 shares in the company, valued at $3,739,592. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Erin Brewer sold 22,354 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $12.70, for a total transaction of $283,895.80. Following the completion of the transaction, the chief financial officer now owns 1,906,812 shares in the company, valued at approximately $24,216,512.40. The disclosure for this sale can be found here. In the last three months, insiders sold 79,805 shares of company stock valued at $942,471. Company insiders own 3.16% of the company’s stock.
Institutional Trading of Lyft
Several large investors have recently modified their holdings of LYFT. Kennicott Capital Management LLC acquired a new stake in Lyft in the 2nd quarter valued at $33,000. BluePath Capital Management LLC acquired a new stake in Lyft in the 3rd quarter valued at $35,000. Gables Capital Management Inc. boosted its holdings in Lyft by 129.0% during the 3rd quarter. Gables Capital Management Inc. now owns 3,550 shares of the ride-sharing company’s stock worth $37,000 after acquiring an additional 2,000 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in Lyft by 77.5% during the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,588 shares of the ride-sharing company’s stock worth $38,000 after acquiring an additional 1,567 shares during the last quarter. Finally, S.A. Mason LLC purchased a new position in Lyft during the 1st quarter worth $46,000. Institutional investors and hedge funds own 71.63% of the company’s stock.
Analyst Upgrades and Downgrades
LYFT has been the topic of several analyst reports. Wedbush increased their price target on shares of Lyft from $11.00 to $12.00 and gave the stock a “neutral” rating in a research note on Thursday, November 9th. Wells Fargo & Company increased their price objective on shares of Lyft from $9.00 to $10.00 and gave the company an “equal weight” rating in a research note on Thursday, November 9th. Truist Financial increased their price objective on shares of Lyft from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Thursday, November 9th. Royal Bank of Canada restated a “sector perform” rating and issued a $12.00 price objective on shares of Lyft in a research report on Tuesday, September 5th. Finally, BTIG Research restated a “neutral” rating on shares of Lyft in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, twenty have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $13.02.
Read Our Latest Report on Lyft
Lyft Company Profile (Get Free Report)
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 offer riders personalized and on-demand access to various mobility options. It provides Ridesharing Marketplace, which connects drivers with riders; Express Drive, a flexible car rentals program for drivers; Lyft Rentals that provides vehicles for long-distance trips; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Lyft, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Lyft wasn’t on the list.
While Lyft currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Looking to generate income with your stock portfolio? Use these ten stocks to generate a safe and reliable source of investment income.
Original: MarketBeat News Feed: Traders Buy Large Volume of Call Options on Lyft (NASDAQ:LYFT)