Rhumbline Advisers trimmed its position in Lyft, Inc. (NASDAQ:LYFT - Free Report) by 5.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 389,352 shares of the ride-sharing company's stock after selling 20,878 shares during the quarter. Rhumbline Advisers owned approximately 0.09% of Lyft worth $5,023,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. True Wealth Design LLC purchased a new stake in Lyft in the 3rd quarter worth about $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Lyft in the 4th quarter worth approximately $29,000. ORG Wealth Partners LLC acquired a new stake in shares of Lyft during the 4th quarter valued at $31,000. Byrne Asset Management LLC acquired a new position in shares of Lyft in the fourth quarter worth $35,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Lyft during the third quarter worth $38,000. Hedge funds and other institutional investors own 83.07% of the company's stock.
Lyft Price Performance
Shares of LYFT traded down $0.72 during mid-day trading on Monday, reaching $12.62. The company had a trading volume of 13,692,970 shares, compared to its average volume of 20,268,480. 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 company has a market capitalization of $5.28 billion, a P/E ratio of 210.08, a P/E/G ratio of 1.90 and a beta of 2.16. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The company's 50-day moving average is $13.55 and its 200-day moving average is $13.76.
Lyft (NASDAQ:LYFT - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) 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%. On average, equities analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current year.
Lyft announced that its Board of Directors has approved a stock repurchase program on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.
Insider Buying and Selling
In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the company'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 sale, the director now directly owns 911,922 shares of the company's stock, valued at approximately $11,417,263.44. This represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.07% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
LYFT has been the topic of a number of research reports. UBS Group dropped their price objective on Lyft from $16.00 to $15.00 and set a "neutral" rating on the stock in a report on Wednesday, February 12th. Morgan Stanley lifted their price objective on shares of Lyft from $16.50 to $18.00 and gave the company an "equal weight" rating in a research note on Thursday, November 7th. Piper Sandler reissued an "overweight" rating and set a $18.00 target price (down from $23.00) on shares of Lyft in a research report on Wednesday, February 12th. TD Cowen boosted their price target on Lyft from $16.00 to $18.00 and gave the stock a "hold" rating in a research report on Thursday, November 7th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Lyft in a report on Wednesday, February 12th. Twenty-six equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $17.22.
Check Out Our Latest Stock Analysis on LYFT
About Lyft
(
Free Report)
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.
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