1492 Capital Management LLC Has $4.39 Million Stock Holdings in Lyft, Inc. $LYFT

1492 Capital Management LLC lessened its holdings in Lyft, Inc. (NASDAQ:LYFT) by 14.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 226,604 shares of the ride-sharing company’s stock after selling 39,016 shares during the quarter. Lyft comprises about 1.7% of 1492 Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. 1492 Capital Management LLC’s holdings in Lyft were worth $4,389,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Heartland Advisors Inc. boosted its holdings in Lyft by 68.2% in the third quarter. Heartland Advisors Inc. now owns 594,800 shares of the ride-sharing company’s stock worth $13,092,000 after purchasing an additional 241,250 shares in the last quarter. Strs Ohio boosted its stake in Lyft by 4,527.6% during the 4th quarter. Strs Ohio now owns 440,405 shares of the ride-sharing company’s stock valued at $8,531,000 after purchasing an additional 430,888 shares during the period. Nierenberg Investment Management Company Inc. boosted its stake in Lyft by 1,811.8% during the 3rd quarter. Nierenberg Investment Management Company Inc. now owns 813,555 shares of the ride-sharing company’s stock valued at $17,906,000 after purchasing an additional 771,000 shares during the period. American Century Companies Inc. boosted its stake in Lyft by 56.8% during the 3rd quarter. American Century Companies Inc. now owns 1,571,726 shares of the ride-sharing company’s stock valued at $34,594,000 after purchasing an additional 569,074 shares during the period. Finally, Neo Ivy Capital Management lifted its position in shares of Lyft by 331.4% in the 3rd quarter. Neo Ivy Capital Management now owns 117,646 shares of the ride-sharing company’s stock worth $2,589,000 after acquiring an additional 90,376 shares during the period. Institutional investors and hedge funds own 83.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on LYFT. Canaccord Genuity Group reduced their price objective on Lyft from $16.00 to $15.00 and set a “hold” rating for the company in a research report on Friday, May 8th. Needham & Company LLC reiterated a “hold” rating on shares of Lyft in a research report on Wednesday, February 11th. Oppenheimer set a $20.00 price objective on Lyft in a research report on Friday, May 8th. Barclays reduced their price objective on Lyft from $27.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. Finally, DA Davidson reduced their price objective on Lyft from $19.00 to $14.50 and set a “neutral” rating for the company in a research report on Monday, May 18th. Eight equities research analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Lyft currently has an average rating of “Hold” and an average target price of $18.83.

Lyft Trading Down 0.1%

LYFT stock opened at $14.09 on Thursday. The business has a fifty day moving average price of $13.80 and a 200 day moving average price of $16.23. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of 2.06, a P/E/G ratio of 0.88 and a beta of 1.82. Lyft, Inc. has a fifty-two week low of $12.46 and a fifty-two week high of $25.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.58 and a quick ratio of 0.58.

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

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

Insider Activity

In related news, insider Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $15.00, for a total value of $172,365.00. Following the sale, the insider owned 853,731 shares of the company’s stock, valued at approximately $12,805,965. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Stephen W. Hope sold 5,460 shares of Lyft stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $75,129.60. Following the completion of the sale, the chief accounting officer directly owned 335,463 shares in the company, valued at approximately $4,615,970.88. This represents a 1.60% 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 54,196 shares of company stock worth $788,521 over the last three months. Corporate 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.