AXQ Capital LP Acquires 72,738 Shares of Lyft, Inc. $LYFT

AXQ Capital LP boosted its holdings in Lyft, Inc. (NASDAQ:LYFT) by 402.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 90,817 shares of the ride-sharing company’s stock after purchasing an additional 72,738 shares during the period. AXQ Capital LP’s holdings in Lyft were worth $1,759,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in LYFT. International Assets Investment Management LLC bought a new stake in Lyft in the fourth quarter worth $40,000. Huntington National Bank raised its stake in shares of Lyft by 171.8% during the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after acquiring an additional 1,374 shares during the last quarter. Abich Financial Wealth Management LLC bought a new position in shares of Lyft during the third quarter valued at about $50,000. CI Investments Inc. raised its stake in shares of Lyft by 39.1% during the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after acquiring an additional 653 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of Lyft by 410.6% during the second quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock valued at $51,000 after acquiring an additional 2,587 shares during the last quarter. 83.07% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Lindsay Catherine Llewellyn sold 11,491 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $13.69, for a total transaction of $157,311.79. Following 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jill Beggs sold 2,093 shares of the stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the sale, the director owned 30,092 shares in the company, valued at approximately $414,065.92. The trade was a 6.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 42,705 shares of company stock worth $616,156 over the last 90 days. 0.92% of the stock is currently owned by insiders.

Lyft Price Performance

Shares of LYFT opened at $14.86 on Tuesday. The stock has a market cap of $5.64 billion, a PE ratio of 2.17, a price-to-earnings-growth ratio of 0.88 and a beta of 1.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. Lyft, Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The firm’s 50-day simple moving average is $13.77 and its two-hundred day simple moving average is $16.38.

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

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lyft in a research note on Wednesday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Lyft from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. Mizuho lowered their price objective on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Lyft from $25.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, February 11th. Finally, Wedbush lowered their price objective on shares of Lyft from $16.00 to $13.00 and set an “underperform” rating for the company in a research note on Wednesday, February 11th. Eight equities research analysts have rated the stock with a Buy rating, twenty-three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Lyft currently has an average rating of “Hold” and an average target price of $18.83.

About Lyft

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.