Quantitative Investment Management LLC Buys 106,480 Shares of Lyft, Inc. $LYFT

Quantitative Investment Management LLC grew its stake in Lyft, Inc. (NASDAQ:LYFT) by 708.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,508 shares of the ride-sharing company’s stock after purchasing an additional 106,480 shares during the quarter. Quantitative Investment Management LLC’s holdings in Lyft were worth $2,674,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of LYFT. Empowered Funds LLC grew its holdings in Lyft by 13.7% during the first quarter. Empowered Funds LLC now owns 24,213 shares of the ride-sharing company’s stock worth $287,000 after buying an additional 2,921 shares in the last quarter. Focus Partners Wealth lifted its stake in Lyft by 44.0% during the 1st quarter. Focus Partners Wealth now owns 51,102 shares of the ride-sharing company’s stock valued at $607,000 after acquiring an additional 15,621 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Lyft during the 2nd quarter valued at $470,000. Acadian Asset Management LLC boosted its holdings in Lyft by 8.7% during the 2nd quarter. Acadian Asset Management LLC now owns 350,799 shares of the ride-sharing company’s stock worth $5,525,000 after acquiring an additional 27,965 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its holdings in Lyft by 111.8% during the 2nd quarter. Illinois Municipal Retirement Fund now owns 195,315 shares of the ride-sharing company’s stock worth $3,078,000 after acquiring an additional 103,118 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Price Performance

Shares of NASDAQ:LYFT opened at $12.95 on Friday. The company has a market capitalization of $5.16 billion, a P/E ratio of 1.90, a price-to-earnings-growth ratio of 0.80 and a beta of 1.92. The company’s 50-day moving average is $16.07 and its 200 day moving average is $18.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.65 and a current ratio of 0.65. Lyft, Inc. has a fifty-two week low of $9.66 and a fifty-two week high of $25.54.

Lyft declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 10th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the ride-sharing company to purchase up to 15.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

Key Lyft News

Here are the key news stories impacting Lyft this week:

• Positive Sentiment: Safety and demand initiatives: Lyft partnered with road-safety groups and regional programs (including Nevada discounts for St. Patrick’s Day) to promote safe rides and drive incremental trip volume and PR goodwill. Zero Fatalities, Lyft team up to promote road safety
• Positive Sentiment: EV driver earnings edge: Reports show EV drivers on rideshare platforms have seen relative gains as gas prices rise, which may help Lyft retain or attract drivers and limit supply-side service degradation. EV Owners On Uber, Lyft Benefited From Rising Gas Prices
• Neutral Sentiment: Legal settlement leads to nationwide policy change: After a Minnesota suit over a blind passenger denied a ride with her service dog, Lyft agreed to a settlement and will guarantee service-animal rides across the U.S., improving compliance and reducing litigation risk but likely adding operational/training costs. Lyft settles MN complaint over denied rides
• Negative Sentiment: LAX surcharge could reduce ride volume/demand: Los Angeles International Airport approved a substantial per-trip rideshare fee (reports cite up to a $12 surcharge) that will likely push fares higher for riders to/from LAX, potentially reducing trip volume and hurting revenue growth in a key market. Uber and Lyft fees to LAX are going up
• Negative Sentiment: Near-term margin and sentiment pressure: Coverage notes Lyft is still unprofitable and the stock has moved lower since its last earnings — investors are focused on when operating leverage will meaningfully improve amid higher fuel costs and potential incremental compliance expenses. Lyft (LYFT) Down 4.9% Since Last Earnings Report
• Negative Sentiment: Driver behavior and fuel-cost headwinds: Rising gas prices are causing some ICE vehicle drivers to ration trips, which can reduce supply and raise per-trip driver costs or lead to higher incentives from Lyft to maintain availability. Drivers rethinking trips amid soaring gas prices

Insiders Place Their Bets

In other Lyft news, Director Jill Beggs sold 2,093 shares of Lyft stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $13.89, for a total value of $29,071.77. Following the sale, the director owned 32,185 shares of the company’s stock, valued at approximately $447,049.65. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Stephen W. Hope sold 5,284 shares of the business’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $13.83, for a total transaction of $73,077.72. Following the completion of the transaction, the chief accounting officer owned 300,570 shares in the company, valued at approximately $4,156,883.10. The trade was a 1.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 31,038 shares of company stock valued at $416,841. Company insiders own 3.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Guggenheim lowered their target price on shares of Lyft from $26.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Needham & Company LLC restated a “hold” rating on shares of Lyft in a report on Wednesday, February 11th. Wells Fargo & Company reduced their price objective on shares of Lyft from $26.00 to $18.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 11th. Piper Sandler reiterated an “overweight” rating on shares of Lyft in a research note on Wednesday, February 11th. Finally, Cantor Fitzgerald dropped their target price on shares of Lyft from $21.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 11th. Ten investment analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.63.

Lyft Company Profile

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.