Lyft, Inc. (NASDAQ:LYFT) Shares Sold by Maple Rock Capital Partners Inc.

Maple Rock Capital Partners Inc. trimmed its stake in Lyft, Inc. (NASDAQ:LYFT) by 12.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 5,435,000 shares of the ride-sharing company’s stock after selling 751,000 shares during the period. Lyft accounts for approximately 2.1% of Maple Rock Capital Partners Inc.’s portfolio, making the stock its 3rd biggest position. Maple Rock Capital Partners Inc.’s holdings in Lyft were worth $70,112,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Lyft by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 36,002,611 shares of the ride-sharing company’s stock valued at $464,434,000 after acquiring an additional 984,907 shares during the last quarter. Pacer Advisors Inc. grew its stake in Lyft by 32.4% in the fourth quarter. Pacer Advisors Inc. now owns 9,408,466 shares of the ride-sharing company’s stock worth $121,369,000 after purchasing an additional 2,302,248 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Lyft by 282.0% in the fourth quarter. Renaissance Technologies LLC now owns 8,623,227 shares of the ride-sharing company’s stock valued at $111,240,000 after acquiring an additional 6,365,727 shares during the period. Capital World Investors boosted its stake in Lyft by 49.4% in the fourth quarter. Capital World Investors now owns 6,775,478 shares of the ride-sharing company’s stock valued at $87,404,000 after acquiring an additional 2,240,478 shares during the period. Finally, Geode Capital Management LLC raised its holdings in shares of Lyft by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 6,309,681 shares of the ride-sharing company’s stock valued at $81,419,000 after buying an additional 443,109 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

Lyft Trading Up 0.5 %

LYFT stock opened at $12.46 on Friday. The firm has a fifty day moving average price of $11.76 and a 200 day moving average price of $13.60. Lyft, Inc. has a fifty-two week low of $8.93 and a fifty-two week high of $19.07. The firm has a market cap of $5.21 billion, a PE ratio of 207.67, a price-to-earnings-growth 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 (NASDAQ:LYFT) last posted its quarterly earnings results on Tuesday, February 11th. The ride-sharing company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.10). Lyft had a net margin of 0.39% and a return on equity of 8.03%. Sell-side analysts anticipate that Lyft, Inc. will post 0.22 earnings per share for the current fiscal year.

Lyft declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 11th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the ride-sharing company to purchase up to 8.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

LYFT has been the subject of several analyst reports. KeyCorp reaffirmed a “sector weight” rating on shares of Lyft in a report on Wednesday, March 26th. Needham & Company LLC reissued a “hold” rating on shares of Lyft in a research note on Thursday, April 17th. Morgan Stanley dropped their price target on Lyft from $17.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 17th. Susquehanna decreased their price target on Lyft from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Cantor Fitzgerald decreased their price objective on Lyft from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, twenty-seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.45.

Insider Activity

In other Lyft news, Director Logan Green sold 11,411 shares of the firm’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $13.34, for a total value of $152,222.74. Following the transaction, the director now owns 297,640 shares in the company, valued at approximately $3,970,517.60. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Patrick Zimmer sold 2,424 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $12.52, for a total transaction of $30,348.48. Following the sale, the director now owns 911,922 shares of the company’s stock, valued at approximately $11,417,263.44. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,407 shares of company stock valued at $203,778 in the last ninety days. Insiders own 3.07% of the company’s stock.

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.