Impax Asset Management Group plc Makes New $7.12 Million Investment in Lyft, Inc. (NASDAQ:LYFT)

Impax Asset Management Group plc bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 600,000 shares of the ride-sharing company's stock, valued at approximately $7,122,000. Impax Asset Management Group plc owned about 0.14% of Lyft as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC boosted its position in Lyft by 282.0% during the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company's stock worth $111,240,000 after acquiring an additional 6,365,727 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Lyft by 1,957.5% during the fourth quarter. Federated Hermes Inc. now owns 288,827 shares of the ride-sharing company's stock worth $3,726,000 after purchasing an additional 274,789 shares during the last quarter. Meridiem Capital Partners LP acquired a new stake in shares of Lyft during the fourth quarter worth $11,571,000. Capital World Investors boosted its stake in Lyft by 49.4% in the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company's stock worth $87,404,000 after buying an additional 2,240,478 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in Lyft in the 4th quarter valued at about $1,221,000. Institutional investors and hedge funds own 83.07% of the company's stock.

Insider Activity at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $15.80, for a total value of $38,299.20. Following the sale, the director directly owned 879,498 shares of the company's stock, valued at $13,896,068.40. This represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jill Beggs sold 1,572 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $16.41, for a total transaction of $25,796.52. Following the completion of the sale, the director owned 20,467 shares in the company, valued at approximately $335,863.47. This trade represents a 7.13% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,732 shares of company stock valued at $347,159. Insiders own 3.07% of the company's stock.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several recent analyst reports. Barclays lifted their price target on Lyft from $19.00 to $20.00 and gave the company an "equal weight" rating in a report on Friday, May 9th. Citigroup reissued a "hold" rating and issued a $14.00 target price (down from $22.00) on shares of Lyft in a research report on Friday, June 27th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $21.00 price target on shares of Lyft in a report on Thursday, June 5th. Needham & Company LLC reissued a "hold" rating on shares of Lyft in a research note on Friday, May 9th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Lyft from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, twenty-five have given a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, Lyft has a consensus rating of "Hold" and a consensus price target of $16.64.

Lyft Stock Up 2.4%

Shares of NASDAQ:LYFT traded up $0.38 during trading on Friday, hitting $16.09. The company's stock had a trading volume of 7,596,459 shares, 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 fifty-two week low of $8.93 and a fifty-two week high of $19.07. The stock's 50-day moving average price is $15.21 and its two-hundred day moving average price is $13.55. The company has a market capitalization of $6.72 billion, a PE ratio of 107.23, a PEG ratio of 3.17 and a beta of 2.20.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). Lyft had a net margin of 0.95% and a return on equity of 11.28%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the company earned $0.15 earnings per share. The business's revenue for the quarter was up 13.5% on a year-over-year basis. As a group, sell-side analysts expect that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft Company Profile

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.