Savant Capital LLC Makes New $1.03 Million Investment in Lyft, Inc. (NASDAQ:LYFT)

Savant Capital LLC purchased a new stake in shares of 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 institutional investor purchased 80,146 shares of the ride-sharing company's stock, valued at approximately $1,034,000.

Other institutional investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC boosted its holdings in Lyft by 3.5% in the third 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 last quarter. XTX Topco Ltd raised its position in Lyft by 2.5% in the third 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 period. Miracle Mile Advisors LLC raised its position in Lyft by 11.0% in the fourth quarter. Miracle Mile Advisors LLC now owns 12,864 shares of the ride-sharing company's stock worth $166,000 after acquiring an additional 1,277 shares during the period. The Manufacturers Life Insurance Company raised its position in Lyft by 1.6% in the third quarter. The Manufacturers Life Insurance Company now owns 82,690 shares of the ride-sharing company's stock worth $1,054,000 after acquiring an additional 1,315 shares during the period. Finally, Empowered Funds LLC raised its position in Lyft by 6.9% in the fourth quarter. Empowered Funds LLC now owns 21,292 shares of the ride-sharing company's stock worth $275,000 after acquiring an additional 1,382 shares during the period. Hedge funds and other institutional investors own 83.07% of the company's stock.

Lyft Stock Performance

NASDAQ:LYFT traded up $0.90 during trading hours on Tuesday, hitting $14.33. 11,907,398 shares of the company were exchanged, compared to its average volume of 19,910,281. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of -89.43, a PEG ratio of 1.94 and a beta of 2.16. Lyft, Inc. has a 52-week low of $8.93 and a 52-week high of $20.82. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. The company's 50 day moving average price is $13.77 and its 200-day moving average price is $13.57.

Lyft (NASDAQ:LYFT - Get Free Report) last released 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 negative return on equity of 1.58% and a negative net margin of 1.19%. As a group, research analysts forecast that Lyft, Inc. will post 0.06 earnings per share for the current year.

Lyft declared that its board has authorized a share buyback program on Tuesday, February 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the ride-sharing company to purchase 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 stock is undervalued.

Wall Street Analyst Weigh In

LYFT has been the topic of several recent research reports. Susquehanna decreased their price target on shares of Lyft from $18.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Needham & Company LLC restated a "hold" rating on shares of Lyft in a research report on Wednesday, February 12th. BMO Capital Markets decreased their price objective on shares of Lyft from $18.00 to $15.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 12th. Wedbush decreased their price objective on shares of Lyft from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 12th. Finally, Evercore ISI decreased their price objective on shares of Lyft from $19.00 to $15.00 and set an "in-line" rating on the stock in a research report on Wednesday, February 12th. Twenty-six investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $17.22.

Insider Activity

In other news, Director Logan Green sold 10,919 shares of the company's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total value of $188,352.75. Following the sale, the director now directly owns 314,492 shares of the company's stock, valued at $5,424,987. This represents a 3.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.07% of the company's stock.

Lyft Profile

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.