Lyft, Inc. (NASDAQ:LYFT) Shares Acquired by Manchester Capital Management LLC

Manchester Capital Management LLC raised its holdings in shares of Lyft, Inc. (NASDAQ:LYFT) by 13.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,879 shares of the ride-sharing company’s stock after buying an additional 1,080 shares during the period. Manchester Capital Management LLC’s holdings in Lyft were worth $115,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Van ECK Associates Corp increased its position in shares of Lyft by 14.0% during the fourth quarter. Van ECK Associates Corp now owns 398,880 shares of the ride-sharing company’s stock worth $5,146,000 after purchasing an additional 49,138 shares in the last quarter. Summit Trail Advisors LLC increased its position in shares of Lyft by 4.5% in the 4th quarter. Summit Trail Advisors LLC now owns 27,249 shares of the ride-sharing company’s stock valued at $352,000 after acquiring an additional 1,182 shares during the period. Savant Capital LLC acquired a new position in shares of Lyft in the 4th quarter valued at $1,034,000. Entropy Technologies LP increased its position in shares of Lyft by 86.3% in the 4th quarter. Entropy Technologies LP now owns 149,898 shares of the ride-sharing company’s stock valued at $1,934,000 after acquiring an additional 69,436 shares during the period. Finally, Empowered Funds LLC increased its position in shares of Lyft by 6.9% in the 4th quarter. Empowered Funds LLC now owns 21,292 shares of the ride-sharing company’s stock valued at $275,000 after acquiring an additional 1,382 shares during the period. 83.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lyft

In other news, Director Logan Green sold 10,919 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 314,492 shares in the company, valued at $5,424,987. This trade represents a 3.36 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.07% of the company’s stock.

Lyft Stock Down 0.3 %

LYFT stock opened at $13.43 on Friday. The company has a market cap of $5.57 billion, a price-to-earnings ratio of -83.94, a PEG ratio of 1.94 and a beta of 2.16. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.88. Lyft, Inc. has a 12 month low of $8.93 and a 12 month high of $20.82. The firm has a 50-day moving average of $13.83 and a two-hundred day moving average of $13.53.

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 analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a negative net margin of 1.19% and a negative return on equity of 1.58%. As a group, analysts forecast that Lyft, Inc. will post 0.06 earnings per share for the current fiscal year.

Lyft announced that its board has authorized a stock buyback 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 buy up to 8.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

LYFT has been the topic of several research reports. Jefferies Financial Group upped their target price on Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Piper Sandler reissued an “overweight” rating and issued a $18.00 target price (down from $23.00) on shares of Lyft in a research report on Wednesday. Barclays cut their target price on Lyft from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday. TD Cowen upped their target price on Lyft from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Thursday, November 7th. Finally, Susquehanna lowered their price target on shares of Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday. Twenty-six equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $17.22.

About Lyft

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.