Neo Ivy Capital Management Purchases 57,694 Shares of Lyft, Inc. (NASDAQ:LYFT)

Neo Ivy Capital Management lifted its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 52.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,718 shares of the ride-sharing company's stock after acquiring 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).

Several other hedge funds have also recently made changes to their positions in LYFT. Spurstone Advisory Services LLC purchased a new stake in Lyft in the fourth quarter valued at $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Lyft during the 4th quarter worth about $29,000. Plato Investment Management Ltd acquired a new stake in shares of Lyft during the 4th quarter valued at about $35,000. Byrne Asset Management LLC acquired a new stake in shares of Lyft during the 4th quarter valued at about $35,000. Finally, Harbour Investments Inc. grew its position 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 valued at $36,000 after acquiring an additional 2,000 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lyft

In related news, insider Lindsay Catherine Llewellyn sold 22,736 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.45, for a total value of $283,063.20. Following the transaction, the insider now owns 959,697 shares in the company, valued at approximately $11,948,227.65. This represents a 2.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Logan Green sold 11,411 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the transaction, the director now owns 297,640 shares in the company, valued at approximately $3,970,517.60. This trade represents a 3.69% decrease in their position. The disclosure for this sale can be found here. 3.07% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group upgraded Lyft from a "neutral" rating to a "buy" rating and set a $20.00 target price on the stock in a research report on Friday, May 9th. KeyCorp restated a "sector weight" rating on shares of Lyft in a research report on Wednesday, March 26th. Oppenheimer restated an "outperform" rating and issued a $17.00 target price (up previously from $15.00) on shares of Lyft in a research report on Friday, May 9th. Wells Fargo & Company decreased their target price on Lyft from $14.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 3rd. Finally, BMO Capital Markets decreased their target price on Lyft from $18.00 to $15.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $16.63.

Lyft Stock Performance

Shares of LYFT stock traded up $0.22 on Tuesday, reaching $16.32. The stock had a trading volume of 19,130,316 shares, compared to its average volume of 19,270,520. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The firm's 50-day moving average is $12.87 and its two-hundred day moving average is $13.75. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of 272.00, a P/E/G ratio of 1.90 and a beta of 2.14. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $19.07.

Lyft (NASDAQ:LYFT - Get Free Report) last issued 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). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a net margin of 0.39% and a return on equity of 8.03%. The firm's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.15 earnings per share. On average, research analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft declared that its Board of Directors has initiated a share buyback program on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is 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.