Huber Capital Management LLC Sells 64,729 Shares of Lyft, Inc. (NASDAQ:LYFT)

Huber Capital Management LLC cut its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 759,433 shares of the ride-sharing company's stock after selling 64,729 shares during the period. Lyft comprises approximately 2.0% of Huber Capital Management LLC's investment portfolio, making the stock its 20th biggest position. Huber Capital Management LLC owned 0.18% of Lyft worth $9,797,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. QRG Capital Management Inc. lifted its stake in Lyft by 3.8% in the 4th 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 during the last quarter. Sanctuary Advisors LLC boosted its holdings 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 valued at $363,000 after acquiring an additional 969 shares in the last quarter. XTX Topco Ltd grew its position in Lyft by 2.5% during the 3rd quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company's stock worth $538,000 after acquiring an additional 1,043 shares during the last quarter. US Bancorp DE increased 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 purchasing an additional 1,045 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in Lyft by 42.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 3,538 shares of the ride-sharing company's stock valued at $46,000 after purchasing an additional 1,058 shares during the last quarter. Institutional investors and hedge funds own 83.07% of the company's stock.

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Lyft Stock Down 5.6 %

Shares of NASDAQ:LYFT traded down $0.64 during midday trading on Friday, hitting $10.84. 19,189,049 shares of the company's stock were exchanged, compared to its average volume of 15,408,403. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $19.55. The company has a market cap of $4.53 billion, a PE ratio of 180.67, a price-to-earnings-growth ratio of 1.90 and a beta of 2.13. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. The stock has a 50 day moving average price of $12.76 and a 200-day moving average price of $13.83.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. On average, sell-side analysts anticipate 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 plan on Tuesday, February 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Lyft

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

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LYFT. Piper Sandler reaffirmed an "overweight" rating and issued a $18.00 price objective (down previously from $23.00) on shares of Lyft in a research note on Wednesday, February 12th. Needham & Company LLC restated a "hold" rating on shares of Lyft in a research report on Monday, March 24th. Citigroup reiterated an "overweight" rating on shares of Lyft in a report on Wednesday, February 12th. Bank of America downgraded Lyft from a "buy" rating to an "underperform" rating and set a $10.50 price objective for the company. in a report on Thursday. Finally, Loop Capital cut their target price on Lyft from $23.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, twenty-seven have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $16.66.

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.