Illinois Municipal Retirement Fund Buys Shares of 92,197 Lyft, Inc. (NASDAQ:LYFT)

Illinois Municipal Retirement Fund purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 92,197 shares of the ride-sharing company's stock, valued at approximately $1,094,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LYFT. Spurstone Advisory Services LLC bought a new position in Lyft during the 4th quarter valued at $25,000. GAMMA Investing LLC boosted its stake in Lyft by 81.4% during the 1st quarter. GAMMA Investing LLC now owns 2,756 shares of the ride-sharing company's stock valued at $33,000 after purchasing an additional 1,237 shares in the last quarter. Plato Investment Management Ltd bought a new position in Lyft during the 4th quarter valued at $35,000. FNY Investment Advisers LLC acquired a new stake in shares of Lyft during the 1st quarter valued at $35,000. Finally, Harbour Investments Inc. boosted its stake in shares of Lyft by 259.7% during the 4th quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock worth $36,000 after acquiring an additional 2,000 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

Insider Transactions at Lyft

In related news, Director Jill Beggs sold 1,572 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $16.41, for a total transaction of $25,796.52. Following the completion of the sale, the director directly owned 20,467 shares in the company, valued at approximately $335,863.47. This trade represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $12.45, for a total value of $283,063.20. Following the sale, the insider owned 959,697 shares of the company's stock, valued at approximately $11,948,227.65. This represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,732 shares of company stock valued at $347,159 in the last three months. 3.07% of the stock is currently owned by insiders.

Lyft Stock Up 2.4%

Shares of NASDAQ:LYFT traded up $0.38 during midday trading on Friday, hitting $16.09. 7,596,459 shares of the stock were exchanged, compared to its average volume of 16,276,359. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.77 and a current ratio of 0.77. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $19.07. The business's fifty day simple moving average is $15.21 and its two-hundred day simple moving average is $13.55. The company has a market capitalization of $6.72 billion, a PE ratio of 107.23, a P/E/G ratio of 3.17 and a beta of 2.20.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.19). Lyft had a return on equity of 11.28% and a net margin of 0.95%. The firm had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.47 billion. During the same quarter in the prior year, the business posted $0.15 earnings per share. Lyft's revenue was up 13.5% on a year-over-year basis. As a group, research analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LYFT has been the subject of several research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $21.00 price objective on shares of Lyft in a research note on Thursday, June 5th. Susquehanna raised their price objective on Lyft from $15.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Wall Street Zen raised Lyft from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. JPMorgan Chase & Co. raised their price objective on Lyft from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, Morgan Stanley reduced their price objective on Lyft from $17.00 to $15.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. One analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $16.64.

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.