111 Capital Acquires Shares of 20,760 Lyft, Inc. (NASDAQ:LYFT)

111 Capital bought a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 20,760 shares of the ride-sharing company's stock, valued at approximately $268,000.

Other hedge funds have also bought and sold shares of the company. QRG Capital Management Inc. grew its position in Lyft by 3.8% during the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company's stock valued at $316,000 after buying an additional 903 shares during the period. Guggenheim Capital LLC boosted its stake in shares of Lyft by 6.4% during the 4th quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock worth $207,000 after acquiring an additional 970 shares in the last quarter. US Bancorp DE grew its position in shares of Lyft by 2.6% during the 4th quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company's stock valued at $536,000 after acquiring an additional 1,045 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Lyft by 42.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company's stock valued at $46,000 after acquiring an additional 1,058 shares during the period. Finally, Manchester Capital Management LLC increased its stake in shares of Lyft by 13.8% in the 4th quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company's stock valued at $115,000 after purchasing an additional 1,080 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Lyft Stock Up 0.5%

Lyft stock traded up $0.08 during mid-day trading on Tuesday, reaching $15.35. The company's stock had a trading volume of 10,794,737 shares, compared to its average volume of 16,353,745. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $19.07. The business's 50 day simple moving average is $13.22 and its 200 day simple moving average is $13.66. The company has a market capitalization of $6.42 billion, a price-to-earnings ratio of 255.83, a price-to-earnings-growth ratio of 1.90 and a beta of 2.14.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. Lyft had a return on equity of 8.03% and a net margin of 0.39%. Lyft's quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share. As a group, research analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft announced that its board has approved a share repurchase program on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

LYFT has been the topic of several research analyst reports. Wells Fargo & Company dropped their target price on shares of Lyft from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. Bank of America cut Lyft from a "buy" rating to an "underperform" rating and set a $10.50 target price for the company. in a report on Thursday, April 3rd. Roth Capital restated a "neutral" rating on shares of Lyft in a research report on Wednesday, February 12th. Loop Capital dropped their price target on Lyft from $23.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, March 18th. Finally, Cantor Fitzgerald lowered their target price on shares of Lyft from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $16.63.

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $15.80, for a total transaction of $38,299.20. Following the sale, the director now directly owns 879,498 shares of the company's stock, valued at $13,896,068.40. The trade was a 0.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John David Risher bought 6,538 shares of the business's stock in a transaction on Thursday, May 29th. The shares were bought at an average cost of $15.29 per share, for a total transaction of $99,966.02. Following the completion of the acquisition, the chief executive officer now directly owns 11,791,340 shares in the company, valued at approximately $180,289,588.60. This trade represents a 0.06% increase in their position. The disclosure for this purchase can be found here. Insiders sold 26,732 shares of company stock valued at $347,159 in the last three months. Corporate insiders own 3.07% of the company's stock.

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.