Lyft, Inc. (NASDAQ:LYFT) Shares Acquired by Neo Ivy Capital Management

Neo Ivy Capital Management increased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 52.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,718 shares of the ride-sharing company's stock after buying an additional 57,694 shares during the period. Neo Ivy Capital Management's holdings in Lyft were worth $2,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. QRG Capital Management Inc. lifted its holdings in Lyft by 3.8% during the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company's stock valued at $316,000 after purchasing an additional 903 shares in the last quarter. Guggenheim Capital LLC lifted its stake in Lyft by 6.4% in the 4th quarter. Guggenheim Capital LLC now owns 16,023 shares of the ride-sharing company's stock valued at $207,000 after buying an additional 970 shares in the last quarter. US Bancorp DE boosted its holdings in Lyft by 2.6% in the 4th quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company's stock worth $536,000 after buying an additional 1,045 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in Lyft by 42.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company's stock worth $46,000 after buying an additional 1,058 shares in the last quarter. Finally, Manchester Capital Management LLC raised its holdings in shares of Lyft by 13.8% during the fourth quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company's stock valued at $115,000 after acquiring an additional 1,080 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 11,411 shares of the company's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the transaction, the director now owns 297,640 shares in the company, valued at $3,970,517.60. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of Lyft stock in a transaction dated 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 now owns 959,697 shares in the company, valued at $11,948,227.65. This trade represents a 2.31% decrease in their position. The disclosure for this sale can be found here. Insiders own 3.07% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on LYFT. BMO Capital Markets dropped their price target on Lyft from $18.00 to $15.00 and set a "market perform" rating for the company in a research report on Wednesday, February 12th. Roth Capital reaffirmed a "neutral" rating on shares of Lyft in a research note on Wednesday, February 12th. Royal Bank of Canada reiterated an "outperform" rating and issued a $21.00 target price on shares of Lyft in a research report on Monday, March 17th. Cantor Fitzgerald lowered their price target on shares of Lyft from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Finally, Citigroup reaffirmed an "overweight" rating on shares of Lyft in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, twenty-five have given a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Lyft currently has a consensus rating of "Hold" and a consensus target price of $16.63.

Lyft Stock Down 1.4%

Shares of LYFT stock traded down $0.22 on Wednesday, reaching $16.10. 5,019,897 shares of the stock were exchanged, compared to its average volume of 16,235,107. The company has a market capitalization of $6.73 billion, a price-to-earnings ratio of 268.75, a PEG ratio of 1.90 and a beta of 2.14. The business's 50 day moving average price is $12.96 and its 200 day moving average price is $13.77. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly 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 0.39% and a return on equity of 8.03%. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the company earned $0.15 earnings per share. The business's revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, sell-side analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft announced that its Board of Directors has approved a share repurchase plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board believes its shares are undervalued.

Lyft 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.