Illinois Municipal Retirement Fund Acquires 103,118 Shares of Lyft, Inc. $LYFT

Illinois Municipal Retirement Fund increased its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 111.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,315 shares of the ride-sharing company’s stock after acquiring an additional 103,118 shares during the period. Illinois Municipal Retirement Fund’s holdings in Lyft were worth $3,078,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Lyft by 162.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,943 shares of the ride-sharing company’s stock valued at $31,000 after purchasing an additional 1,203 shares during the last quarter. Atwood & Palmer Inc. purchased a new position in Lyft during the second quarter valued at $32,000. Bogart Wealth LLC boosted its holdings in Lyft by 1,242.2% in the second quarter. Bogart Wealth LLC now owns 2,161 shares of the ride-sharing company’s stock worth $34,000 after acquiring an additional 2,000 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Lyft in the first quarter worth $35,000. Finally, Signaturefd LLC increased its holdings in shares of Lyft by 89.5% during the first quarter. Signaturefd LLC now owns 4,021 shares of the ride-sharing company’s stock valued at $48,000 after acquiring an additional 1,899 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LYFT. Sanford C. Bernstein upped their price target on shares of Lyft from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Monday. Jefferies Financial Group upped their target price on shares of Lyft from $15.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, September 18th. Morgan Stanley increased their price target on shares of Lyft from $19.00 to $20.50 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Susquehanna boosted their price objective on shares of Lyft from $14.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Finally, Evercore ISI increased their target price on Lyft from $15.00 to $30.00 and gave the company an “in-line” rating in a research note on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twenty-two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.72.

Lyft Trading Down 3.1%

Shares of LYFT stock opened at $23.80 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.76. Lyft, Inc. has a 12-month low of $9.66 and a 12-month high of $25.54. The stock has a market capitalization of $9.67 billion, a P/E ratio of 62.63, a P/E/G ratio of 2.44 and a beta of 2.36. The firm’s 50 day moving average is $20.88 and its 200 day moving average is $17.17.

Lyft (NASDAQ:LYFT) last released its quarterly earnings results on Wednesday, November 5th. The ride-sharing company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.17). The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.71 billion. Lyft had a net margin of 2.40% and a return on equity of 18.29%. Lyft’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.29 earnings per share. Research analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

Insider Transactions at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 28,356 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $15.85, for a total value of $449,442.60. Following the transaction, the insider directly owned 850,388 shares in the company, valued at approximately $13,478,649.80. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John David Risher purchased 5,926 shares of the company’s stock in a transaction dated Wednesday, September 3rd. The shares were acquired at an average price of $16.88 per share, for a total transaction of $100,030.88. Following the purchase, the chief executive officer directly owned 11,797,266 shares in the company, valued at approximately $199,137,850.08. The trade was a 0.05% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 74,427 shares of company stock worth $1,252,686 in the last quarter. Company insiders own 3.07% of the company’s stock.

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.