Hillsdale Investment Management Inc. Sells 58,300 Shares of Lyft, Inc. $LYFT

Hillsdale Investment Management Inc. cut its stake in shares of Lyft, Inc. (NASDAQ:LYFT) by 22.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 200,100 shares of the ride-sharing company’s stock after selling 58,300 shares during the quarter. Hillsdale Investment Management Inc. owned approximately 0.05% of Lyft worth $3,876,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LYFT. Empowered Funds LLC boosted its stake in Lyft by 13.7% during the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after acquiring an additional 2,921 shares in the last quarter. Focus Partners Wealth boosted its stake in Lyft by 44.0% during the first quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock worth $607,000 after acquiring an additional 15,621 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Lyft during the second quarter worth $470,000. Invesco Ltd. boosted its stake in Lyft by 87.5% during the second quarter. Invesco Ltd. now owns 1,064,930 shares of the ride-sharing company’s stock worth $16,783,000 after acquiring an additional 497,118 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in Lyft by 12.6% during the second quarter. California Public Employees Retirement System now owns 709,188 shares of the ride-sharing company’s stock worth $11,177,000 after acquiring an additional 79,634 shares in the last quarter. 83.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on LYFT shares. Wells Fargo & Company cut their target price 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. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lyft from $25.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, February 11th. Piper Sandler restated an “overweight” rating on shares of Lyft in a report on Wednesday, February 11th. Oppenheimer set a $20.00 price objective on shares of Lyft in a report on Friday, May 8th. Finally, KeyCorp restated a “sector weight” rating on shares of Lyft in a report on Wednesday, February 11th. Eight research analysts have rated the stock with a Buy rating, twenty-three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $18.83.

Lyft Stock Performance

LYFT opened at $14.11 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $13.74 and its two-hundred day moving average price is $16.44. Lyft, Inc. has a 1-year low of $12.46 and a 1-year high of $25.54. The company has a market cap of $5.36 billion, a price-to-earnings ratio of 2.06, a PEG ratio of 0.88 and a beta of 1.82.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Thursday, May 7th. The ride-sharing company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.26). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The business’s quarterly revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 EPS. On average, analysts expect that Lyft, Inc. will post 0.66 EPS for the current fiscal year.

Lyft announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 10th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the ride-sharing company to buy up to 15.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $13.69, for a total value of $157,311.79. Following the completion of the sale, the insider owned 865,222 shares in the company, valued at $11,844,889.18. This represents a 1.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of the stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $75,129.60. Following the completion of the sale, the chief accounting officer owned 335,463 shares of the company’s stock, valued at approximately $4,615,970.88. This represents a 1.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 42,705 shares of company stock worth $616,156 over the last quarter. Insiders own 0.92% of the company’s stock.

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.