CWA Asset Management Group LLC Buys New Stake in Lyft, Inc. $LYFT

Key Points

• CWA Asset Management purchased a new stake of 100,527 Lyft shares in Q4, valued at about $1.95 million, signaling fresh institutional interest in the company.
• Lyft's Board authorized a $1.0 billion stock buyback (up to 15.1% of shares), a move typically intended to indicate management believes the stock is undervalued.
• Insiders sold a total of 31,038 shares (~$416,841) over the last quarter while institutional investors own about 83.07% of the stock; analysts' consensus rating is "Hold" with an average price target of $19.62.

CWA Asset Management Group LLC purchased a new stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 100,527 shares of the ride-sharing company's stock, valued at approximately $1,947,000.

Other institutional investors also recently bought and sold shares of the company. Riversedge Advisors LLC increased its holdings in shares of Lyft by 8.4% in the 4th quarter. Riversedge Advisors LLC now owns 13,145 shares of the ride-sharing company's stock valued at $255,000 after acquiring an additional 1,018 shares during the last quarter. GAMMA Investing LLC lifted its stake in Lyft by 34.7% during the fourth quarter. GAMMA Investing LLC now owns 3,279 shares of the ride-sharing company's stock worth $64,000 after purchasing an additional 845 shares during the last quarter. Triumph Capital Management purchased a new stake in Lyft during the third quarter worth approximately $726,000. FNY Investment Advisers LLC acquired a new position in Lyft in the third quarter valued at approximately $312,000. Finally, Allworth Financial LP boosted its holdings in Lyft by 61.0% in the third quarter. Allworth Financial LP now owns 26,162 shares of the ride-sharing company's stock valued at $576,000 after purchasing an additional 9,913 shares in the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 23,661 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $13.30, for a total transaction of $314,691.30. Following the completion of the sale, the insider directly owned 696,850 shares of the company's stock, valued at approximately $9,268,105. This trade represents a 3.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Stephen W. Hope sold 5,284 shares of Lyft stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $13.83, for a total value of $73,077.72. Following the completion of the transaction, the chief accounting officer owned 300,570 shares in the company, valued at $4,156,883.10. This trade represents a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 31,038 shares of company stock valued at $416,841 over the last quarter. 3.07% of the stock is currently owned by insiders.

Lyft Trading Up 0.7%

NASDAQ LYFT opened at $13.47 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $5.36 billion, a PE ratio of 1.98, a P/E/G ratio of 0.81 and a beta of 1.92. Lyft, Inc. has a one year low of $9.66 and a one year high of $25.54. The firm's fifty day moving average is $15.35 and its two-hundred day moving average is $18.75.

Lyft announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 10th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the ride-sharing company to repurchase up to 15.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on LYFT shares. TD Cowen reissued a "buy" rating on shares of Lyft in a report on Wednesday, February 11th. Morgan Stanley set a $17.00 target price on shares of Lyft in a report on Wednesday, February 11th. Roth Mkm set a $22.00 target price on shares of Lyft in a research report on Wednesday, February 11th. UBS Group reiterated a "neutral" rating on shares of Lyft in a research note on Monday, February 2nd. Finally, Wells Fargo & Company reduced their price target on shares of Lyft from $26.00 to $18.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 11th. Nine equities research analysts have rated the stock with a Buy rating, twenty-two have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $19.62.

Lyft Profile

Lyft, Inc NASDAQ: LYFT operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft's platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.

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