Lecap Asset Management Ltd. Decreases Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Lecap Asset Management Ltd. cut its position in Lyft, Inc. (NASDAQ:LYFT) by 51.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 106,247 shares of the ride-sharing company’s stock after selling 113,029 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Lyft were worth $1,371,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Lyft by 0.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 18,052,879 shares of the ride-sharing company’s stock valued at $230,174,000 after acquiring an additional 80,675 shares during the period. Pacer Advisors Inc. increased its stake in shares of Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after purchasing an additional 2,302,248 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of Lyft by 27.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 8,114,166 shares of the ride-sharing company’s stock valued at $103,456,000 after purchasing an additional 1,735,208 shares during the period. Primecap Management Co. CA lifted its stake in shares of Lyft by 3.8% during the 3rd quarter. Primecap Management Co. CA now owns 6,491,590 shares of the ride-sharing company’s stock valued at $82,768,000 after buying an additional 235,510 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. boosted its holdings in Lyft by 84.8% in the 3rd quarter. Maple Rock Capital Partners Inc. now owns 6,186,000 shares of the ride-sharing company’s stock worth $78,872,000 after buying an additional 2,838,000 shares during the period. Institutional investors own 83.07% of the company’s stock.

Lyft Price Performance

Shares of Lyft stock opened at $14.17 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. The business’s 50 day simple moving average is $14.16 and its two-hundred day simple moving average is $13.46. The stock has a market capitalization of $5.88 billion, a P/E ratio of -88.56, a price-to-earnings-growth ratio of 1.86 and a beta of 2.16.

Lyft (NASDAQ:LYFT) last issued its earnings results on Wednesday, November 6th. The ride-sharing company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.20 by $0.09. The company had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.44 billion. Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. The firm’s revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) earnings per share. Analysts forecast that Lyft, Inc. will post 0.06 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. TD Cowen boosted their target price on shares of Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, November 7th. Bank of America dropped their price objective on Lyft from $21.00 to $19.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. UBS Group reduced their target price on Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, February 3rd. Loop Capital increased their price target on shares of Lyft from $16.00 to $23.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Susquehanna boosted their price objective on shares of Lyft from $10.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Twenty-seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Lyft presently has an average rating of “Hold” and a consensus price target of $17.78.

Insider Buying and Selling at Lyft

In other news, Director Logan Green sold 10,919 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total transaction of $188,352.75. Following the transaction, the director now directly owns 314,492 shares of the company’s stock, valued at approximately $5,424,987. The trade was a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.07% of the company’s stock.

Lyft 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.