Lyft, Inc. (NASDAQ:LYFT) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC boosted its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 7,536.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 1,854,823 shares of the ride-sharing company’s stock after buying an additional 1,830,533 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Lyft were worth $23,927,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. True Wealth Design LLC acquired a new stake in shares of Lyft in the third quarter valued at $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Lyft in the fourth quarter valued at $29,000. ORG Wealth Partners LLC acquired a new stake in shares of Lyft in the fourth quarter valued at $31,000. Byrne Asset Management LLC acquired a new stake in shares of Lyft in the fourth quarter valued at $35,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Lyft in the third quarter valued at $38,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Up 0.1 %

LYFT opened at $12.74 on Wednesday. The business’s 50-day simple moving average is $13.58 and its 200-day simple moving average is $13.69. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. The stock has a market capitalization of $5.32 billion, a P/E ratio of 212.30, a price-to-earnings-growth ratio of 1.90 and a beta of 2.16.

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

Lyft declared that its board has initiated a stock buyback program on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the ride-sharing company to reacquire up to 8.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LYFT shares. Truist Financial dropped their price objective on Lyft from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday, February 12th. Morgan Stanley lifted their price objective on Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, November 7th. Cantor Fitzgerald decreased their target price on Lyft from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Piper Sandler reiterated an “overweight” rating and issued a $18.00 target price (down from $23.00) on shares of Lyft in a report on Wednesday, February 12th. Finally, Benchmark upgraded Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, January 6th. Twenty-six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.22.

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.