Ben Jacobs’ Anomaly Capital is Buying These 5 Stocks

4. Lyft Inc (NASDAQ:LYFT) 

Jacobs’ Stake Value: $ 120,926,000

Percentage of Ben Jacobs’ 13F portfolio: 7.63%

Number of Hedge Fund Holders: 43

Ben Jacobs’ Anomaly Capital Management holds 1,999,437 shares in Lyft Inc (NASDAQ: LYFT) amounting to $120.92 million, which represents 7.63% of the fund’s overall portfolio.

With the world continuing to recover from pandemic disruptions, growing demand for rideshare could signal a positive recovery for Lyft Inc (NASDAQ: LYFT), as the company’s financials remained resilient even through turbulent times.

On 14th October, research firm RBC Capital maintained its ‘Outperform’ rating on Lyft Inc (NASDAQ: LYFT) stock, setting price target at $65.0.

In the second quarter of 2021, 43 hedge funds out of the 873 tracked by Insider Monkey held $1.38 billion worth of positions in Lyft Inc (NASDAQ: LYFT) . In contrast, 60 hedge funds held $1.95 billion worth of positions in the previous quarter.

ClearBridge Investments, in its Q2 2021 investor letter, mentioned Lyft Inc (NASDAQ: LYFT). Here is what the investment management firm had to say:

“We also added to our disruptors exposure in the second quarter with the purchase of Lyft, a leading, U.S. focused ride-hailing
business. Lyft operates in a rational duopoly with Uber and has been able to maintain consistent 30%–35% market share for the past several years. The company should be a key beneficiary of the U.S. reopening, with a post-COVID-19 recovery in rideshare demand driving an acceleration in volumes and revenue. We also see considerable runway for growth beyond this rebound, as rideshare remains underpenetrated. Lyft’s ability to weather a period of significant demand destruction in 2020 is encouraging and we see opportunity for margin expansion ahead. Despite volatility created by ongoing labor negotiations, we see the potential for new, state-level legislation creating collective bargaining rights for gig economy workers to provide greater
certainty around industry labor costs, with increases that should be manageable.”