Y Intercept Hong Kong Ltd Cuts Stake in Lyft, Inc. (NASDAQ:LYFT)

Y Intercept Hong Kong Ltd trimmed its holdings in shares of Lyft, Inc. (NASDAQ:LYFT - Free Report) by 88.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,012 shares of the ride-sharing company's stock after selling 127,110 shares during the period. Y Intercept Hong Kong Ltd's holdings in Lyft were worth $219,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC bought a new stake in shares of Lyft during the 3rd quarter worth $27,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Lyft during the 4th quarter worth $29,000. ORG Wealth Partners LLC bought a new stake in shares of Lyft during the 4th quarter worth $31,000. Byrne Asset Management LLC bought a new stake in shares of Lyft during the 4th quarter worth $35,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Lyft during the 3rd quarter worth $38,000. 83.07% of the stock is currently owned by institutional investors.

Lyft Trading Down 0.4 %

LYFT stock traded down $0.05 during midday trading on Wednesday, hitting $12.36. The company had a trading volume of 16,181,841 shares, compared to its average volume of 14,982,641. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.74. Lyft, Inc. has a 52 week low of $8.93 and a 52 week high of $20.82. The stock's 50 day moving average price is $13.50 and its 200 day moving average price is $13.78. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of 206.00, a PEG ratio of 1.90 and a beta of 2.15.

Lyft (NASDAQ:LYFT - Get Free Report) last announced its quarterly earnings data 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 net margin of 0.39% and a return on equity of 8.03%. As a group, equities research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its board has initiated 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 reacquire up to 8.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LYFT. Canaccord Genuity Group boosted their price objective on Lyft from $18.00 to $22.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Loop Capital boosted their price objective on Lyft from $16.00 to $23.00 and gave the company a "buy" rating in a research note on Wednesday, December 4th. Bank of America boosted their price objective on Lyft from $19.00 to $21.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Barclays lowered their price objective on Lyft from $20.00 to $19.00 and set an "equal weight" rating on the stock in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. lowered their price objective on Lyft from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 12th. Twenty-six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $17.22.

Insider Activity at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of the company'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 in the company, valued at $11,417,263.44. This represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Logan Green sold 11,411 shares of the company'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 transaction, the director now owns 297,640 shares of the company's stock, 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. Insiders sold a total of 15,407 shares of company stock worth $203,778 over the last quarter. 3.07% of the stock is owned by corporate insiders.

Lyft Company 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.