Epoch Investment Partners Inc. Makes New $1.63 Million Investment in Lyft, Inc. (NASDAQ:LYFT)

Epoch Investment Partners Inc. acquired a new stake in Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 126,577 shares of the ride-sharing company’s stock, valued at approximately $1,633,000.

Other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC grew its stake in Lyft by 282.0% during the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock worth $111,240,000 after buying an additional 6,365,727 shares during the period. Norges Bank purchased a new stake in Lyft during the 4th quarter worth $49,599,000. Pacer Advisors Inc. increased its holdings in 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 purchasing an additional 2,302,248 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of Lyft by 274.6% during the fourth quarter. Marshall Wace LLP now owns 2,959,267 shares of the ride-sharing company’s stock worth $38,175,000 after purchasing an additional 2,169,255 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in shares of Lyft by 7,536.2% in the fourth quarter. Los Angeles Capital Management LLC now owns 1,854,823 shares of the ride-sharing company’s stock worth $23,927,000 after buying an additional 1,830,533 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Trading Up 3.0 %

NASDAQ:LYFT opened at $11.16 on Monday. The stock has a market cap of $4.66 billion, a price-to-earnings ratio of 186.00, a PEG ratio of 1.90 and a beta of 2.13. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.75 and a current ratio of 0.76. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $19.07. The business has a fifty day moving average of $12.02 and a 200-day moving average of $13.67.

Lyft (NASDAQ:LYFT) last issued 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%. Equities analysts predict that Lyft, Inc. will post 0.22 earnings per share for the current year.

Lyft announced that its board has initiated a stock buyback program on Tuesday, February 11th that authorizes the company to buyback $500.00 million in outstanding 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 often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Lyft

In other news, Director John Patrick Zimmer sold 2,424 shares of Lyft 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 transaction, the director now owns 911,922 shares of the company’s stock, valued at $11,417,263.44. The trade was a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Logan Green sold 11,411 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 297,640 shares in the company, valued at $3,970,517.60. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,407 shares of company stock valued at $203,778. 3.07% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on LYFT. Morgan Stanley dropped their target price on Lyft from $17.00 to $15.00 and set an “equal weight” rating on the stock in a report on Thursday. Evercore ISI dropped their price objective on shares of Lyft from $19.00 to $15.00 and set an “in-line” rating on the stock in a research note on Wednesday, February 12th. Truist Financial lowered their price target on shares of Lyft from $20.00 to $17.00 and set a “hold” rating for the company in a report on Wednesday, February 12th. Benchmark upgraded shares of Lyft from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, January 6th. Finally, DA Davidson reissued a “neutral” rating and issued a $15.00 price objective on shares of Lyft in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, twenty-seven have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lyft has an average rating of “Hold” and an average price target of $16.45.

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.