Quantbot Technologies LP Invests $6.11 Million in Lyft, Inc. (NASDAQ:LYFT)

Quantbot Technologies LP purchased a new position in Lyft, Inc. (NASDAQ:LYFT) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 473,780 shares of the ride-sharing company’s stock, valued at approximately $6,112,000. Quantbot Technologies LP owned about 0.11% of Lyft at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. QRG Capital Management Inc. raised its holdings in Lyft by 3.8% in the fourth quarter. QRG Capital Management Inc. now owns 24,493 shares of the ride-sharing company’s stock worth $316,000 after buying an additional 903 shares during the last quarter. Sanctuary Advisors LLC increased its position in shares of Lyft by 3.5% during the third quarter. Sanctuary Advisors LLC now owns 28,454 shares of the ride-sharing company’s stock valued at $363,000 after acquiring an additional 969 shares in the last quarter. XTX Topco Ltd raised its holdings in Lyft by 2.5% in the 3rd quarter. XTX Topco Ltd now owns 42,203 shares of the ride-sharing company’s stock worth $538,000 after acquiring an additional 1,043 shares during the last quarter. US Bancorp DE lifted its position in Lyft by 2.6% in the 4th quarter. US Bancorp DE now owns 41,539 shares of the ride-sharing company’s stock valued at $536,000 after acquiring an additional 1,045 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its stake in Lyft by 13.8% during the 4th quarter. Manchester Capital Management LLC now owns 8,879 shares of the ride-sharing company’s stock valued at $115,000 after purchasing an additional 1,080 shares during the last quarter. Institutional investors own 83.07% of the company’s stock.

Analyst Upgrades and Downgrades

LYFT has been the topic of a number of research analyst reports. Benchmark raised Lyft from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and set a $21.00 target price on shares of Lyft in a research note on Tuesday, February 18th. UBS Group reduced their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Wednesday, February 12th. Evercore ISI lowered their price objective on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating on the stock in a research report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut their target price on shares of Lyft from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Wednesday, February 12th. Twenty-six research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.13.

Lyft Price Performance

LYFT stock opened at $11.27 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. The company’s fifty day moving average price is $13.28 and its 200-day moving average price is $13.76. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. The company has a market capitalization of $4.71 billion, a PE ratio of 187.83, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15.

Lyft (NASDAQ:LYFT) last released its quarterly earnings data on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. On average, equities analysts anticipate that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft announced that its board has initiated a stock repurchase plan on Tuesday, February 11th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the ride-sharing company to purchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Lyft

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

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.