Lyft, Inc. $LYFT Shares Acquired by Heartland Advisors Inc.

Key Points

• Heartland Advisors Inc. boosted its Lyft stake by 46% in the first quarter, ending with 823,200 shares valued at about $10.95 million. Institutional investors still own a large majority of the company, with 83.07% of shares held by hedge funds and other institutions.
• Lyft reported Q1 revenue of $1.65 billion, up 17.2% year over year and slightly above estimates, but earnings disappointed at $0.04 EPS versus the expected $0.30. The company also posted a negative return on equity and a net margin of 43.82%.
• Analyst sentiment remains mixed: Lyft has an overall Hold rating with an average target price of $19.40, though some firms recently raised targets or upgraded the stock while others cut ratings. Insiders also sold shares in recent months, including the chief accounting officer and another executive.

Heartland Advisors Inc. increased its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 46.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 823,200 shares of the ride-sharing company's stock after buying an additional 259,450 shares during the period. Heartland Advisors Inc. owned about 0.21% of Lyft worth $10,949,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LYFT. Brown Brothers Harriman & Co. boosted its position in Lyft by 23.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,399 shares of the ride-sharing company's stock valued at $75,000 after buying an additional 639 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Lyft by 5.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 12,808 shares of the ride-sharing company's stock worth $248,000 after acquiring an additional 681 shares during the last quarter. Allegiance Financial Group Advisory Services LLC increased its position in shares of Lyft by 4.3% during the fourth quarter. Allegiance Financial Group Advisory Services LLC now owns 18,153 shares of the ride-sharing company's stock worth $352,000 after acquiring an additional 756 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Lyft by 0.5% in the third quarter. Public Employees Retirement System of Ohio now owns 167,399 shares of the ride-sharing company's stock worth $3,684,000 after acquiring an additional 771 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Lyft by 34.7% in the fourth quarter. GAMMA Investing LLC now owns 3,279 shares of the ride-sharing company's stock worth $64,000 after acquiring an additional 845 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Stock Performance

Shares of Lyft stock opened at $15.52 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. Lyft, Inc. has a 1 year low of $12.46 and a 1 year high of $25.54. The firm's 50-day simple moving average is $14.34 and its 200-day simple moving average is $14.93. The firm has a market cap of $5.89 billion, a PE ratio of 2.27, a price-to-earnings-growth ratio of 0.92 and a beta of 1.80.

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

Insider Transactions at Lyft

In other news, CAO Stephen W. Hope sold 5,460 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $75,129.60. Following the completion of the sale, the chief accounting officer directly owned 335,463 shares in the company, valued at approximately $4,615,970.88. The trade was a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of the company's stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $15.00, for a total value of $172,365.00. Following the sale, the insider directly owned 853,731 shares in the company, valued at approximately $12,805,965. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 45,535 shares of company stock worth $637,456. 0.92% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on LYFT shares. Truist Financial increased their price target on Lyft from $15.00 to $16.00 and gave the company a "hold" rating in a report on Friday, May 8th. Guggenheim restated a "buy" rating on shares of Lyft in a report on Wednesday, June 10th. Rothschild & Co Redburn raised Lyft from a "neutral" rating to a "buy" rating and set a $22.00 target price on the stock in a research report on Wednesday, June 17th. Zacks Research cut Lyft from a "hold" rating to a "strong sell" rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Lyft in a research note on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating, twenty have given a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, Lyft presently has an average rating of "Hold" and an average target price 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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