CWA Asset Management Group LLC Acquires Shares of 100,527 Lyft, Inc. $LYFT

CWA Asset Management Group LLC acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 100,527 shares of the ride-sharing company’s stock, valued at approximately $1,947,000.

Other hedge funds also recently made changes to their positions in the company. Heartland Advisors Inc. raised its stake in shares of Lyft by 68.2% during the 3rd quarter. Heartland Advisors Inc. now owns 594,800 shares of the ride-sharing company’s stock worth $13,092,000 after buying an additional 241,250 shares in the last quarter. CWM LLC lifted its holdings in shares of Lyft by 52.1% in the 3rd quarter. CWM LLC now owns 819,677 shares of the ride-sharing company’s stock valued at $18,041,000 after buying an additional 280,886 shares during the period. Abacus FCF Advisors LLC purchased a new stake in shares of Lyft in the third quarter valued at approximately $6,442,000. Hussman Strategic Advisors Inc. acquired a new position in Lyft during the third quarter worth $2,080,000. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in Lyft by 15.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 426,314 shares of the ride-sharing company’s stock worth $9,029,000 after acquiring an additional 56,117 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Up 0.7%

LYFT opened at $13.47 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 1.98, a PEG ratio of 0.81 and a beta of 1.92. Lyft, Inc. has a one year low of $9.66 and a one year high of $25.54. The business’s fifty day moving average is $15.35 and its two-hundred day moving average is $18.75.

Lyft declared that its Board of Directors has authorized a share buyback program on Tuesday, February 10th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the ride-sharing company to purchase up to 15.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Lyft

In other Lyft news, insider Lindsay Catherine Llewellyn sold 23,661 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $13.30, for a total transaction of $314,691.30. Following the completion of the transaction, the insider directly owned 696,850 shares in the company, valued at approximately $9,268,105. This trade represents a 3.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Stephen W. Hope sold 5,284 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $13.83, for a total transaction of $73,077.72. Following the transaction, the chief accounting officer owned 300,570 shares of the company’s stock, valued at $4,156,883.10. This trade represents a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 31,038 shares of company stock valued at $416,841 in the last 90 days. 3.07% of the stock is currently owned by insiders.

Analyst Ratings Changes

LYFT has been the subject of a number of recent analyst reports. Mizuho reduced their target price on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, March 3rd. Wells Fargo & Company lowered their price target on shares of Lyft from $26.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 11th. Arete Research set a $20.00 price target on shares of Lyft and gave the company a “neutral” rating in a report on Wednesday, December 3rd. Cantor Fitzgerald reduced their price objective on shares of Lyft from $21.00 to $14.00 and set a “neutral” rating for the company in a research note on Wednesday, February 11th. Finally, Guggenheim decreased their price objective on shares of Lyft from $26.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. Nine analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $19.62.

Lyft Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.