Stevens Capital Management LP Acquires Shares of 17,981 Lyft, Inc. (NASDAQ:LYFT)

Stevens Capital Management LP bought a new position in Lyft, Inc. (NASDAQ:LYFT) in the 4th quarter, Holdings Channel.com reports. The fund bought 17,981 shares of the ride-sharing company’s stock, valued at approximately $232,000.

Other institutional investors have also modified their holdings of the company. Maple Rock Capital Partners Inc. increased its holdings in shares of Lyft by 84.8% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock valued at $78,872,000 after acquiring an additional 2,838,000 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after purchasing an additional 2,302,248 shares during the period. Los Angeles Capital Management LLC increased its stake in Lyft by 7,536.2% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company’s stock valued at $23,927,000 after purchasing an additional 1,830,533 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Lyft by 27.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock worth $103,456,000 after purchasing an additional 1,735,208 shares during the period. Finally, Point72 Asset Management L.P. bought a new position in shares of Lyft in the 3rd quarter worth about $13,430,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LYFT. Evercore ISI lowered their price objective on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating for the company in a research report on Wednesday, February 12th. Roth Capital reaffirmed a “neutral” rating on shares of Lyft in a report on Wednesday, February 12th. Truist Financial cut their price target on Lyft from $20.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, February 12th. Cantor Fitzgerald lowered their price objective on Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Finally, DA Davidson cut their target price on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Twenty-six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.03.

Lyft Trading Up 2.0 %

Shares of LYFT opened at $12.22 on Tuesday. 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 1-year low of $8.93 and a 1-year high of $20.40. The stock has a market capitalization of $5.11 billion, a P/E ratio of 203.67, a P/E/G ratio of 1.90 and a beta of 2.15. The business’s 50-day moving average price is $13.03 and its 200 day moving average price is $13.81.

Lyft (NASDAQ:LYFT) last issued its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS 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%. Analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft announced that its board has authorized a share buyback program on Tuesday, February 11th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the ride-sharing company to repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Lyft news, Director Logan Green sold 11,411 shares of Lyft stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the sale, the director now owns 297,640 shares of the company’s stock, valued at $3,970,517.60. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Patrick Zimmer sold 2,424 shares of the company’s stock in a transaction 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 directly owns 911,922 shares in the company, valued at $11,417,263.44. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,407 shares of company stock worth $203,778. 3.07% of the stock is owned by corporate insiders.

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.