Savant Capital LLC Invests $1.03 Million in Lyft, Inc. (NASDAQ:LYFT)

Savant Capital LLC purchased a new stake in Lyft, Inc. (NASDAQ:LYFT) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 80,146 shares of the ride-sharing company’s stock, valued at approximately $1,034,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in shares of Lyft in the third quarter valued at about $27,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Lyft during the 4th quarter worth approximately $29,000. ORG Wealth Partners LLC bought a new position in shares of Lyft during the fourth quarter worth approximately $31,000. Byrne Asset Management LLC acquired a new stake in shares of Lyft in the fourth quarter valued at approximately $35,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Lyft in the third quarter valued at approximately $38,000. 83.07% of the stock is owned by institutional investors and hedge funds.

Lyft Stock Down 0.3 %

Shares of NASDAQ:LYFT opened at $13.43 on Friday. The business’s 50-day moving average is $13.88 and its 200-day moving average is $13.52. Lyft, Inc. has a 1 year low of $8.93 and a 1 year high of $20.82. The company has a market capitalization of $5.57 billion, a price-to-earnings ratio of -83.94, a P/E/G ratio of 1.94 and a beta of 2.16. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.75 and a quick ratio of 0.75.

Lyft (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.10). Lyft had a negative return on equity of 1.58% and a negative net margin of 1.19%. Equities research analysts predict that Lyft, Inc. will post 0.06 earnings per share for the current year.

Lyft announced that its board has initiated a stock repurchase plan on Tuesday, February 11th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the ride-sharing company to reacquire up to 8.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Lyft news, Director Logan Green sold 10,919 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $17.25, for a total value of $188,352.75. Following the transaction, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. This represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on LYFT shares. Evercore ISI lowered their price objective on Lyft from $19.00 to $15.00 and set an “in-line” rating on the stock in a research note on Wednesday. Truist Financial dropped their price target on Lyft from $20.00 to $17.00 and set a “hold” rating for the company in a research note on Wednesday. Wedbush reduced their price objective on shares of Lyft from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday. Jefferies Financial Group boosted their target price on shares of Lyft from $10.50 to $13.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Finally, Barclays reduced their price target on shares of Lyft from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Twenty-six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Lyft has a consensus rating of “Hold” and an average price target of $17.22.

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.