Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC trimmed its position in shares of Lyft, Inc. (NASDAQ:LYFT) by 25.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,000 shares of the ride-sharing company’s stock after selling 14,000 shares during the period. Quinn Opportunity Partners LLC’s holdings in Lyft were worth $516,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Lyft during the fourth quarter worth approximately $29,000. ORG Wealth Partners LLC acquired a new position in Lyft during the 4th quarter worth $31,000. Byrne Asset Management LLC bought a new position in shares of Lyft in the fourth quarter worth $35,000. Plato Investment Management Ltd acquired a new position in shares of Lyft during the fourth quarter valued at $35,000. Finally, Harbour Investments Inc. raised its stake in shares of Lyft by 259.7% during the fourth quarter. Harbour Investments Inc. now owns 2,770 shares of the ride-sharing company’s stock valued at $36,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors own 83.07% of the company’s stock.

Lyft Stock Up 0.9 %

Lyft stock opened at $11.03 on Friday. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $19.47. 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 firm has a market cap of $4.61 billion, a PE ratio of 183.83, a P/E/G ratio of 1.90 and a beta of 2.13. The firm’s 50 day moving average price is $12.34 and its two-hundred day moving average price is $13.72.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a return on equity of 8.03% and a net margin of 0.39%. On average, research analysts predict 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 authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the ride-sharing company to buy up to 8.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Lyft

In other Lyft news, Director John Patrick Zimmer sold 2,424 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $12.52, for a total value of $30,348.48. Following the completion of the sale, the director now directly owns 911,922 shares of the company’s stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Logan Green sold 11,411 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total transaction of $152,222.74. Following the transaction, the director now owns 297,640 shares in the company, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,407 shares of company stock worth $203,778 over the last 90 days. 3.07% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LYFT has been the subject of a number of recent analyst reports. Benchmark upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Monday, January 6th. Barclays lowered their price objective on shares of Lyft from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Citigroup restated an “overweight” rating on shares of Lyft in a research report on Wednesday, February 12th. Wells Fargo & Company lowered their price target on Lyft from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 3rd. Finally, Wedbush cut 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. One equities research analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $16.60.

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.