Maven Securities LTD Makes New Investment in Lyft, Inc. (NASDAQ:LYFT)

Maven Securities LTD acquired a new stake in shares of Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,500 shares of the ride-sharing company’s stock, valued at approximately $161,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LYFT. Renaissance Technologies LLC raised its position in shares of Lyft by 282.0% during the 4th quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock valued at $111,240,000 after purchasing an additional 6,365,727 shares during the period. Norges Bank bought a new stake in shares of Lyft during the 4th quarter valued at $49,599,000. Pacer Advisors Inc. raised its position in shares of Lyft by 32.4% during the 4th 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 during the period. Capital World Investors raised its position in shares of Lyft by 49.4% during the 4th quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company’s stock valued at $87,404,000 after purchasing an additional 2,240,478 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Lyft by 274.6% during the 4th quarter. Marshall Wace LLP now owns 2,959,267 shares of the ride-sharing company’s stock valued at $38,175,000 after purchasing an additional 2,169,255 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Insider Transactions at Lyft

In related news, Director John Patrick Zimmer sold 2,424 shares of Lyft 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 completion of the sale, the director now owns 911,922 shares in the company, valued at $11,417,263.44. This trade represents a 0.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Lindsay Catherine Llewellyn sold 22,736 shares of Lyft stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $12.45, for a total transaction of $283,063.20. Following the sale, the insider now owns 959,697 shares of the company’s stock, valued at $11,948,227.65. The trade was a 2.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 38,143 shares of company stock worth $486,841. 3.07% of the stock is currently owned by insiders.

Lyft Price Performance

Lyft stock opened at $16.86 on Thursday. The firm has a 50-day moving average price of $12.12 and a 200-day moving average price of $13.66. The firm has a market capitalization of $7.05 billion, a PE ratio of 281.00, a price-to-earnings-growth ratio of 1.90 and a beta of 2.14. 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 12-month low of $8.93 and a 12-month high of $19.07.

Lyft (NASDAQ:LYFT) last released its earnings results on Thursday, May 8th. The ride-sharing company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.19). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.47 billion. Lyft had a return on equity of 8.03% and a net margin of 0.39%. Lyft’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. As a group, equities research analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 11th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have recently commented on LYFT shares. The Goldman Sachs Group upgraded shares of Lyft from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Friday, May 9th. Loop Capital decreased their price objective on shares of Lyft from $23.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. KeyCorp reaffirmed a “sector weight” rating on shares of Lyft in a research note on Wednesday, March 26th. Oppenheimer reaffirmed an “outperform” rating and set a $17.00 target price (up from $15.00) on shares of Lyft in a research note on Friday, May 9th. Finally, Truist Financial cut their target price on shares of Lyft from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.56.

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.