Abacus FCF Advisors LLC Purchases Shares of 50,095 Lyft, Inc. (NASDAQ:LYFT)

Abacus FCF Advisors LLC bought a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 50,095 shares of the ride-sharing company's stock, valued at approximately $646,000.

Several other large investors have also recently modified their holdings of LYFT. QRG Capital Management Inc. boosted its stake 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 worth $316,000 after buying an additional 903 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Lyft by 3.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company's stock worth $363,000 after purchasing an additional 969 shares during the period. XTX Topco Ltd grew its holdings in Lyft by 2.5% during the 3rd quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company's stock valued at $538,000 after purchasing an additional 1,043 shares during the last quarter. US Bancorp DE lifted its stake in Lyft by 2.6% in the fourth quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company's stock worth $536,000 after purchasing an additional 1,045 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its position in shares of Lyft by 42.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company's stock valued at $46,000 after buying an additional 1,058 shares during the period. Institutional investors own 83.07% of the company's stock.

Insider Buying and Selling

In other news, Director Logan Green sold 11,411 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the transaction, the director now directly owns 297,640 shares of the company's stock, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director John Patrick Zimmer sold 2,424 shares of the firm's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now owns 911,922 shares of the company's stock, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,407 shares of company stock worth $203,778 in the last 90 days. Insiders own 3.07% of the company's stock.

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Lyft Price Performance

Shares of LYFT stock traded down $0.09 during mid-day trading on Monday, hitting $10.94. 3,073,834 shares of the stock were exchanged, compared to its average volume of 15,541,173. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $19.34. The firm has a fifty day moving average of $12.34 and a 200 day moving average of $13.72. The company has a market cap of $4.57 billion, a PE ratio of 182.33, a price-to-earnings-growth ratio of 1.90 and a beta of 2.13.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. Research analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current year.

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Piper Sandler reissued an "overweight" rating and set a $18.00 price target (down from $23.00) on shares of Lyft in a research note on Wednesday, February 12th. BMO Capital Markets cut their price target on shares of Lyft from $18.00 to $15.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. Cantor Fitzgerald lowered their price objective on shares of Lyft from $15.00 to $14.00 and set a "neutral" rating for the company in a research report on Wednesday, February 12th. JPMorgan Chase & Co. decreased their price target on shares of Lyft from $16.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, UBS Group lowered their price target on Lyft from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $16.60.

About Lyft

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.