897,009 Shares in Lyft, Inc. (NASDAQ:LYFT) Bought by Meridiem Capital Partners LP

Meridiem Capital Partners LP purchased a new stake in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 897,009 shares of the ride-sharing company's stock, valued at approximately $11,571,000. Meridiem Capital Partners LP owned approximately 0.22% of Lyft at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Lyft in the 4th quarter valued at approximately $29,000. Byrne Asset Management LLC bought a new stake in shares of Lyft in the 4th quarter valued at approximately $35,000. Plato Investment Management Ltd bought a new stake in shares of Lyft in the 4th quarter valued at approximately $35,000. Harbour Investments Inc. lifted its stake in shares of Lyft by 259.7% in the 4th quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company's stock valued at $36,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Lyft in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Stock Performance

Shares of LYFT traded up $0.54 during midday trading on Friday, reaching $16.77. 22,236,165 shares of the stock were exchanged, compared to its average volume of 16,219,635. The business's 50-day moving average price is $12.32 and its 200 day moving average price is $13.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $19.07. The company has a market capitalization of $7.01 billion, a price-to-earnings ratio of 279.50, a PEG ratio of 1.90 and a beta of 2.14.

Lyft (NASDAQ:LYFT - Get Free Report) last posted its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.19). The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.47 billion. Lyft had a return on equity of 8.03% and a net margin of 0.39%. The firm's revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. On average, sell-side analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft declared that its Board of Directors has authorized a stock repurchase program on Tuesday, February 11th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

LYFT has been the subject of a number of research analyst reports. DA Davidson reissued a "neutral" rating and set a $15.00 price target on shares of Lyft in a research note on Wednesday, April 16th. JPMorgan Chase & Co. boosted their price target on Lyft from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Barclays boosted their target price on Lyft from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Friday, May 9th. UBS Group boosted their price target on Lyft from $12.00 to $14.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Oppenheimer restated an "outperform" rating and issued a $17.00 target price (up previously from $15.00) on shares of Lyft in a research note on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, twenty-five have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Lyft presently has a consensus rating of "Hold" and a consensus target price of $16.56.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 11,411 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the sale, the director now owns 297,640 shares in the company, valued at approximately $3,970,517.60. This represents a 3.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Patrick Zimmer sold 2,424 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value of $30,348.48. Following the transaction, the director now directly owns 911,922 shares in the company, valued at approximately $11,417,263.44. This represents a 0.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,143 shares of company stock worth $486,841 in the last quarter. Company insiders own 3.07% of the company's stock.

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.