Quantbot Technologies LP Buys Shares of 473,780 Lyft, Inc. (NASDAQ:LYFT)

Quantbot Technologies LP acquired a new position in Lyft, Inc. (NASDAQ:LYFT - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 473,780 shares of the ride-sharing company's stock, valued at approximately $6,112,000. Quantbot Technologies LP owned approximately 0.11% of Lyft as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in LYFT. Van ECK Associates Corp raised its position in Lyft by 14.0% during the fourth quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company's stock valued at $5,146,000 after purchasing an additional 49,138 shares in the last quarter. Pacer Advisors Inc. raised its position in Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company's stock valued at $121,369,000 after purchasing an additional 2,302,248 shares in the last quarter. Paragon Capital Management Inc. purchased a new stake in Lyft during the fourth quarter valued at about $1,681,000. KBC Group NV raised its position in Lyft by 354.9% during the fourth quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company's stock valued at $3,434,000 after purchasing an additional 207,672 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Lyft by 33.9% in the fourth quarter. Bank of New York Mellon Corp now owns 3,878,369 shares of the ride-sharing company's stock worth $50,031,000 after buying an additional 981,186 shares during the period. Hedge funds and other institutional investors own 83.07% of the company's stock.

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Insider Transactions at Lyft

In related news, Director Logan Green sold 11,411 shares of the business's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total value of $152,222.74. Following the completion of the transaction, the director now directly owns 297,640 shares in the company, valued at $3,970,517.60. The trade was a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the business's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the completion of the transaction, 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 have sold a total of 15,407 shares of company stock valued at $203,778 in the last ninety days. 3.07% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LYFT shares. Wells Fargo & Company decreased their price objective on Lyft from $17.00 to $14.00 and set an "equal weight" rating on the stock in a report on Thursday, January 16th. BMO Capital Markets decreased their price objective on Lyft from $18.00 to $15.00 and set a "market perform" rating on the stock in a report on Wednesday, February 12th. JPMorgan Chase & Co. decreased their price objective on Lyft from $19.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Cantor Fitzgerald decreased their price objective on Lyft from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Lyft in a report on Wednesday, February 12th. Twenty-six investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $17.03.

Lyft Stock Down 4.2 %

Shares of LYFT traded down $0.50 during mid-day trading on Tuesday, reaching $11.53. The company had a trading volume of 10,327,674 shares, compared to its average volume of 14,996,110. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The firm has a 50-day moving average price of $13.19 and a 200 day moving average price of $13.80. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82. The company has a market capitalization of $4.82 billion, a price-to-earnings ratio of 192.17, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15.

Lyft (NASDAQ:LYFT - Get Free Report) last issued its quarterly earnings results 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 forecast that Lyft, Inc. will post 0.22 EPS for the current year.

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

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.