Neo Ivy Capital Management Reduces Holdings in Lyft, Inc. (NASDAQ:LYFT)

Neo Ivy Capital Management reduced its position in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 53.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 110,024 shares of the ride-sharing company's stock after selling 125,116 shares during the period. Neo Ivy Capital Management's holdings in Lyft were worth $1,402,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LYFT. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Lyft by 0.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company's stock worth $230,174,000 after buying an additional 80,675 shares during the period. Jacobs Levy Equity Management Inc. grew its holdings in Lyft by 27.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company's stock valued at $103,456,000 after purchasing an additional 1,735,208 shares during the period. Pacer Advisors Inc. bought a new position in Lyft in the third quarter valued at approximately $90,604,000. Primecap Management Co. CA lifted its stake in Lyft by 3.8% in the third quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company's stock valued at $82,768,000 after buying an additional 235,510 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. lifted its stake in Lyft by 84.8% in the third quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company's stock valued at $78,872,000 after buying an additional 2,838,000 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Lyft news, insider Lindsay Catherine Llewellyn sold 4,243 shares of the business's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $12.00, for a total value of $50,916.00. Following the transaction, the insider now directly owns 760,089 shares of the company's stock, valued at approximately $9,121,068. The trade was a 0.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Logan Green sold 10,919 shares of the business's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the sale, the director now owns 314,492 shares in the company, valued at $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,909 shares of company stock worth $505,686. Insiders own 3.07% of the company's stock.

Lyft Price Performance

Shares of NASDAQ LYFT traded down $1.00 during mid-day trading on Wednesday, reaching $15.19. The company's stock had a trading volume of 16,662,562 shares, compared to its average volume of 15,040,484. The stock has a 50-day moving average of $15.11 and a two-hundred day moving average of $13.58. The stock has a market capitalization of $6.30 billion, a P/E ratio of -94.25, a P/E/G ratio of 4.62 and a beta of 2.09. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.75 and a current ratio of 0.75. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $20.82.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.09. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The business had revenue of $1.52 billion during the quarter, compared to analysts' expectations of $1.44 billion. During the same period in the prior year, the business earned ($0.02) earnings per share. The company's quarterly revenue was up 31.6% compared to the same quarter last year. On average, equities research analysts anticipate that Lyft, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on LYFT shares. Benchmark reissued a "hold" rating on shares of Lyft in a research report on Thursday, November 7th. UBS Group increased their target price on shares of Lyft from $13.00 to $18.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Roth Mkm raised their price objective on shares of Lyft from $13.00 to $16.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. Piper Sandler reissued an "overweight" rating and set a $23.00 target price (up previously from $17.00) on shares of Lyft in a research report on Thursday, November 7th. Finally, Evercore ISI raised their price objective on shares of Lyft from $17.00 to $19.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Twenty-eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $17.77.

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.