Counterpoint Mutual Funds LLC Purchases 21,992 Shares of Lyft, Inc. (NASDAQ:LYFT)

Counterpoint Mutual Funds LLC lifted its holdings in Lyft, Inc. (NASDAQ:LYFT) by 97.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 44,455 shares of the ride-sharing company’s stock after purchasing an additional 21,992 shares during the period. Counterpoint Mutual Funds LLC’s holdings in Lyft were worth $573,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in LYFT. Janney Montgomery Scott LLC grew its stake in shares of Lyft by 31.0% in the third quarter. Janney Montgomery Scott LLC now owns 58,785 shares of the ride-sharing company’s stock worth $750,000 after acquiring an additional 13,915 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Lyft during the 3rd quarter worth about $310,000. Victory Capital Management Inc. raised its position in shares of Lyft by 2.1% during the third quarter. Victory Capital Management Inc. now owns 120,443 shares of the ride-sharing company’s stock valued at $1,536,000 after buying an additional 2,476 shares during the last quarter. SouthState Corp lifted its stake in shares of Lyft by 13.0% in the third quarter. SouthState Corp now owns 23,972 shares of the ride-sharing company’s stock valued at $306,000 after buying an additional 2,765 shares during the period. Finally, EULAV Asset Management grew its position in Lyft by 10.7% during the third quarter. EULAV Asset Management now owns 310,000 shares of the ride-sharing company’s stock worth $3,952,000 after buying an additional 30,000 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.

Lyft Stock Performance

LYFT stock opened at $11.92 on Monday. Lyft, Inc. has a twelve month low of $8.93 and a twelve month high of $20.82. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.74. The company has a market cap of $4.98 billion, a P/E ratio of 198.67, a price-to-earnings-growth ratio of 1.90 and a beta of 2.15. The business’s fifty day moving average is $13.24 and its 200-day moving average is $13.79.

Lyft (NASDAQ:LYFT) last released its earnings results 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 net margin of 0.39% and a return on equity of 8.03%. Equities research analysts forecast that Lyft, Inc. will post 0.22 EPS for the current year.

Lyft announced that its board has initiated a share 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 repurchase up to 8.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have commented on LYFT shares. Wedbush cut their price target on Lyft from $18.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, February 12th. Bank of America raised their target price on Lyft from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. UBS Group lowered their price target on shares of Lyft from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Wednesday, February 12th. Truist Financial lowered their price target on Lyft from $20.00 to $17.00 and set a “hold” rating on the stock in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company reduced their price target on shares of Lyft from $17.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 16th. Twenty-six equities 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. According to data from MarketBeat.com, Lyft currently has a consensus rating of “Hold” and a consensus target price of $17.13.

Insider Activity at Lyft

In other Lyft news, Director Logan Green sold 11,411 shares of the business’s 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 directly owns 297,640 shares of the company’s stock, valued at approximately $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total value 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 disclosure for this sale can be found here. Insiders have sold 15,407 shares of company stock worth $203,778 in the last ninety days. Company insiders own 3.07% of the company’s stock.

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.