Anchor Capital Advisors LLC Acquires New Position in Lyft, Inc. $LYFT

Anchor Capital Advisors LLC bought a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, HoldingsChannel.com reports. The fund bought 35,880 shares of the ride-sharing company’s stock, valued at approximately $695,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. International Assets Investment Management LLC acquired a new stake in shares of Lyft during the fourth quarter worth $40,000. Huntington National Bank lifted its position in Lyft by 171.8% during the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock worth $42,000 after acquiring an additional 1,374 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in Lyft during the 3rd quarter valued at about $50,000. CI Investments Inc. increased its holdings in shares of Lyft by 39.1% in the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after purchasing an additional 653 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of Lyft by 410.6% in the second quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock worth $51,000 after purchasing an additional 2,587 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Stock Down 0.1%

Shares of NASDAQ LYFT opened at $14.09 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.33. The firm has a market cap of $5.35 billion, a price-to-earnings ratio of 2.06, a PEG ratio of 0.88 and a beta of 1.82. Lyft, Inc. has a 52-week low of $12.46 and a 52-week high of $25.54. The business’s 50 day moving average is $13.80 and its two-hundred day moving average is $16.23.

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). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.63 billion. Lyft had a net margin of 43.82% and a negative return on equity of 2.09%. The company’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS. Research analysts predict that Lyft, Inc. will post 0.66 EPS for the current year.

Lyft declared that its Board of Directors has initiated a share repurchase 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 repurchase up to 15.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on LYFT. Deutsche Bank Aktiengesellschaft cut their price target 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. KeyCorp reiterated a “sector weight” rating on shares of Lyft in a research note on Wednesday, February 11th. Wells Fargo & Company decreased their price target on Lyft from $26.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, February 11th. JPMorgan Chase & Co. upped their price target on Lyft from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lyft in a research report on Wednesday, May 6th. Eight equities 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.83.

Insider Transactions at Lyft

In related news, Director Jill Beggs sold 2,093 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total value of $28,799.68. Following the transaction, the director directly owned 30,092 shares of the company’s stock, valued at $414,065.92. This trade represents a 6.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of Lyft stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $15.00, for a total value of $172,365.00. Following the transaction, the insider directly owned 853,731 shares in the company, valued at approximately $12,805,965. This trade represents a 1.33% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 54,196 shares of company stock worth $788,521. 0.92% of the stock is currently owned by insiders.

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.