Savant Capital LLC Purchases New Holdings in Lyft, Inc. (NASDAQ:LYFT)

Savant Capital LLC acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 80,146 shares of the ride-sharing company’s stock, valued at approximately $1,034,000.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its stake in shares of Lyft by 32.4% during the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock valued at $121,369,000 after acquiring an additional 2,302,248 shares during the period. Paragon Capital Management Inc. bought a new stake in Lyft during the 4th quarter worth about $1,681,000. KBC Group NV lifted its position in Lyft by 354.9% during the 4th quarter. KBC Group NV now owns 266,185 shares of the ride-sharing company’s stock valued at $3,434,000 after purchasing an additional 207,672 shares during the period. Nordea Investment Management AB boosted its stake in shares of Lyft by 59.6% in the 4th quarter. Nordea Investment Management AB now owns 382,463 shares of the ride-sharing company’s stock valued at $5,006,000 after purchasing an additional 142,880 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in shares of Lyft by 10,225.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 424,384 shares of the ride-sharing company’s stock worth $5,475,000 after buying an additional 420,274 shares during the period. 83.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on LYFT shares. Loop Capital increased their price objective on shares of Lyft from $16.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Barclays reduced their price target on Lyft from $20.00 to $19.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Bank of America upped their price objective on Lyft from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday. Cantor Fitzgerald reduced their target price on Lyft from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, BMO Capital Markets lowered their price target on Lyft from $18.00 to $15.00 and set a “market perform” rating for the company in a research note on Wednesday. Twenty-six investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $17.22.

Lyft Stock Performance

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

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

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

Insider Activity

In related news, Director Logan Green sold 10,919 shares of the stock in a transaction 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 sale, the director now owns 314,492 shares in the company, valued at approximately $5,424,987. This represents a 3.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.07% of the company’s stock.

About Lyft

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.