Los Angeles Capital Management LLC Boosts Stock Position in Lyft, Inc. (NASDAQ:LYFT)

Los Angeles Capital Management LLC raised its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 7,536.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,854,823 shares of the ride-sharing company’s stock after purchasing an additional 1,830,533 shares during the quarter. Los Angeles Capital Management LLC owned 0.45% of Lyft worth $23,927,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Lyft by 0.4% during 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 purchasing an additional 80,675 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Lyft by 32.4% in the 4th 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 period. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Lyft by 27.2% in the 3rd 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 buying an additional 1,735,208 shares during the period. Primecap Management Co. CA lifted its holdings in shares of Lyft by 3.8% in 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 during the period. Finally, Maple Rock Capital Partners Inc. lifted its holdings in shares of 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 valued at $78,872,000 after buying an additional 2,838,000 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Price Performance

NASDAQ:LYFT opened at $12.74 on Wednesday. Lyft, Inc. has a one year low of $8.93 and a one year high of $20.82. 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 stock has a market cap of $5.32 billion, a PE ratio of 212.30, a P/E/G ratio of 1.90 and a beta of 2.16. The stock has a 50 day moving average price of $13.58 and a 200 day moving average price of $13.69.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results 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%. Equities research analysts expect that Lyft, Inc. will post 0.22 EPS for the current fiscal year.

Lyft announced that its board has initiated a stock repurchase program on Tuesday, February 11th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the ride-sharing company to buy up to 8.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several analyst reports. JPMorgan Chase & Co. decreased their price objective on Lyft from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Wedbush decreased their price objective on Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. DA Davidson decreased their price objective on Lyft from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a report on Wednesday, February 12th. Finally, Morgan Stanley increased their price target on Lyft from $16.50 to $18.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 7th. Twenty-six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.