Mawer Investment Management Ltd. Purchases New Holdings in Lyft, Inc. $LYFT

Mawer Investment Management Ltd. acquired a new position in shares of Lyft, Inc. (NASDAQ:LYFT) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 508,078 shares of the ride-sharing company’s stock, valued at approximately $9,841,000.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Lyft in the fourth quarter valued at $40,000. Huntington National Bank grew its holdings in shares of Lyft by 171.8% during the fourth quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after buying an additional 1,374 shares in the last quarter. Abich Financial Wealth Management LLC acquired a new position in Lyft during the third quarter valued at $50,000. CI Investments Inc. raised its position in Lyft by 39.1% during the third quarter. CI Investments Inc. now owns 2,321 shares of the ride-sharing company’s stock valued at $51,000 after buying an additional 653 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in Lyft by 410.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,217 shares of the ride-sharing company’s stock worth $51,000 after acquiring an additional 2,587 shares in the last quarter. 83.07% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lyft

In related news, Director Jill Beggs sold 2,093 shares of the business’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $13.76, for a total value of $28,799.68. Following the completion of the sale, the director directly owned 30,092 shares in the company, valued at approximately $414,065.92. The trade was a 6.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Lindsay Catherine Llewellyn sold 11,491 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $13.69, for a total value of $157,311.79. Following the transaction, the insider owned 865,222 shares in the company, valued at approximately $11,844,889.18. This trade represents a 1.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 42,705 shares of company stock worth $616,156. 0.92% of the stock is owned by corporate insiders.

Lyft Trading Up 5.3%

NASDAQ:LYFT opened at $14.86 on Tuesday. The company has a market capitalization of $5.64 billion, a P/E ratio of 2.17, a P/E/G ratio of 0.88 and a beta of 1.84. The stock’s 50 day moving average price is $13.77 and its 200 day moving average price is $16.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.58. Lyft, Inc. has a 52 week low of $12.46 and a 52 week high of $25.54.

Lyft (NASDAQ:LYFT) last posted its earnings results on Thursday, May 7th. The ride-sharing company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.26). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.63 billion. Lyft had a negative return on equity of 2.09% and a net margin of 43.82%.The business’s revenue was up 17.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 earnings per share. On average, research analysts forecast that Lyft, Inc. will post 0.66 EPS for the current fiscal year.

Lyft announced that its board has initiated a stock buyback program on Tuesday, February 10th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the ride-sharing company to repurchase up to 15.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

LYFT has been the topic of several research analyst reports. Royal Bank Of Canada lowered their target price on Lyft from $22.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. Evercore set a $21.00 price target on shares of Lyft in a research report on Wednesday, February 11th. Wedbush lowered their price objective on shares of Lyft from $16.00 to $13.00 and set an “underperform” rating on the stock in a research report on Wednesday, February 11th. Wells Fargo & Company dropped their price objective on shares of Lyft from $26.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 11th. Finally, Truist Financial increased their target price on shares of Lyft from $15.00 to $16.00 and gave the stock a “hold” rating in a research report on Friday, May 8th. Eight investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.83.

About Lyft

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.