Illinois Municipal Retirement Fund Buys 96,086 Shares of Lyft, Inc. $LYFT

Key Points

• Illinois Municipal Retirement Fund increased its Lyft stake by 25.1% in the first quarter, buying 96,086 additional shares and bringing its total holding to 478,555 shares worth about $6.37 million.
• Other large institutions also added to Lyft, and overall 83.07% of the stock is owned by institutional investors, signaling continued heavy institutional interest.
• Lyft reported Q1 earnings of $0.04 per share, missing analyst expectations, though revenue of $1.65 billion slightly topped estimates and rose 17.2% year over year; analysts currently rate the stock a consensus Hold.

Illinois Municipal Retirement Fund boosted its stake in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 25.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 478,555 shares of the ride-sharing company's stock after buying an additional 96,086 shares during the period. Illinois Municipal Retirement Fund owned 0.12% of Lyft worth $6,365,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LYFT. Norges Bank purchased a new position in shares of Lyft during the 4th quarter worth approximately $109,987,000. Swedbank AB purchased a new position in shares of Lyft in the 4th quarter valued at approximately $108,472,000. Contour Asset Management LLC purchased a new position in shares of Lyft in the 4th quarter valued at approximately $75,870,000. Principal Financial Group Inc. lifted its stake in shares of Lyft by 250.0% in the 1st quarter. Principal Financial Group Inc. now owns 4,246,519 shares of the ride-sharing company's stock valued at $56,479,000 after purchasing an additional 3,033,333 shares during the period. Finally, Prevatt Capital Ltd bought a new stake in shares of Lyft during the first quarter valued at approximately $25,270,000. 83.07% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Jill Beggs sold 2,093 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the sale, the director owned 30,092 shares in the company, valued at $414,065.92. This represents a 6.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erin Brewer sold 15,000 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $13.59, for a total transaction of $203,850.00. Following the sale, the chief financial officer directly owned 705,979 shares of the company's stock, valued at $9,594,254.61. This trade represents a 2.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 45,535 shares of company stock worth $637,456. Corporate insiders own 0.92% of the company's stock.

Lyft Stock Performance

Shares of Lyft stock opened at $15.52 on Friday. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54. The firm's 50-day moving average is $14.34 and its 200 day moving average is $14.93. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 2.27, a PEG ratio of 0.95 and a beta of 1.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58.

Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.26). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The firm's revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 earnings per share. Sell-side analysts anticipate that Lyft, Inc. will post 0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. William Blair cut Lyft to a "market perform" rating in a research note on Wednesday, June 17th. Truist Financial boosted their target price on shares of Lyft from $15.00 to $16.00 and gave the company a "hold" rating in a report on Friday, May 8th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Lyft in a research report on Wednesday, May 6th. JPMorgan Chase & Co. upped their target price on shares of Lyft from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Friday, May 8th. Finally, DA Davidson decreased their price target on shares of Lyft from $19.00 to $14.50 and set a "neutral" rating for the company in a research note on Monday, May 18th. Thirteen research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $19.40.

Lyft Company 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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