Stevens Capital Management LP Takes $232,000 Position in Lyft, Inc. (NASDAQ:LYFT)

Stevens Capital Management LP purchased a new position in shares of Lyft, Inc. (NASDAQ:LYFT) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,981 shares of the ride-sharing company’s stock, valued at approximately $232,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC purchased a new position in shares of Lyft during the 3rd quarter worth approximately $27,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lyft in the fourth quarter worth $29,000. ORG Wealth Partners LLC purchased a new stake in shares of Lyft during the 4th quarter worth $31,000. Byrne Asset Management LLC acquired a new position in shares of Lyft during the 4th quarter worth $35,000. Finally, Plato Investment Management Ltd purchased a new position in shares of Lyft in the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 83.07% of the company’s stock.

Insiders Place Their Bets

In related news, Director John Patrick Zimmer sold 2,424 shares of Lyft stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now owns 911,922 shares of the company’s stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Logan Green sold 11,411 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $13.34, for a total transaction of $152,222.74. Following the completion of the transaction, the director now directly owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 15,407 shares of company stock worth $203,778 over the last quarter. 3.07% of the stock is owned by corporate insiders.

Lyft Stock Up 2.0 %

LYFT opened at $12.22 on Tuesday. The company has a market cap of $5.11 billion, a PE ratio of 203.67, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.40. The firm has a 50 day moving average price of $13.03 and a 200 day moving average price of $13.81.

Lyft (NASDAQ:LYFT) last issued its earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. Sell-side analysts expect that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of analysts recently commented on LYFT shares. Susquehanna decreased their price objective on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. UBS Group decreased their price target on Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 12th. Wells Fargo & Company dropped their price objective on Lyft from $17.00 to $14.00 and set an “equal weight” rating for the company in a research note on Thursday, January 16th. Cantor Fitzgerald decreased their target price on Lyft from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. Finally, Loop Capital dropped their price target on Lyft from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Twenty-six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $17.03.

Lyft Company Profile

Lyft, Inc operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips.