Empowered Funds LLC Increases Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Empowered Funds LLC raised its holdings in Lyft, Inc. (NASDAQ:LYFT) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,292 shares of the ride-sharing company’s stock after purchasing an additional 1,382 shares during the period. Empowered Funds LLC’s holdings in Lyft were worth $275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Pacer Advisors Inc. raised its position 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 valued at $121,369,000 after buying an additional 2,302,248 shares during the last quarter. Paragon Capital Management Inc. acquired a new position in shares of Lyft in the fourth quarter valued at approximately $1,681,000. KBC Group NV raised its position in shares of Lyft by 354.9% in the fourth quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company’s stock valued at $3,434,000 after buying an additional 207,672 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Lyft by 59.6% in the fourth quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company’s stock valued at $5,006,000 after buying an additional 142,880 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Lyft by 10,225.6% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company’s stock valued at $5,475,000 after buying an additional 420,274 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Insiders Place Their Bets

In other Lyft news, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $17.25, for a total transaction of $188,352.75. Following the completion of the transaction, the director now directly owns 314,492 shares of the company’s stock, valued at $5,424,987. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.07% of the stock is owned by company insiders.

Lyft Price Performance

Shares of LYFT stock opened at $13.05 on Friday. The firm has a market cap of $5.41 billion, a P/E ratio of 217.42, a P/E/G ratio of 1.89 and a beta of 2.16. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.76 and a quick ratio of 0.75. Lyft, Inc. has a 1-year low of $8.93 and a 1-year high of $20.82. The firm has a fifty day moving average of $13.66 and a two-hundred day moving average of $13.59.

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

Lyft declared that its board has approved a stock buyback 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 repurchase up to 8.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

LYFT has been the subject of a number of analyst reports. BMO Capital Markets cut their price objective on shares of Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a research report on Wednesday, February 12th. Benchmark raised shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, January 6th. Morgan Stanley boosted their price objective on shares of Lyft from $16.50 to $18.00 and gave the company an “equal weight” rating in a research report on Thursday, November 7th. Tigress Financial upped their price target on shares of Lyft from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Canaccord Genuity Group upped their price target on shares of Lyft from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. 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. Based on data from MarketBeat.com, Lyft has an average rating of “Hold” and an average price target of $17.22.

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.